By Doug Winter - www.raregoldcoins.com

I recently learned that the coins from the shipwreck S.S. New York will be sold by Stack’s in July at this firm’s pre-ANA auction. Unlike some of the other shipwrecks that have been uncovered in recent years, the coins found on the S.S. New York will have an impact on the branch mint gold market.

According to information gleaned from the NGC website, the S.S. New York was a light cargo and passenger ship vessel that operated between New Orleans and Galveston. It was destroyed during a hurricane on September 7, 1846. Seventeen crew members were killed and “thirty to forty thousand dollars in gold, silver and bank notes” were lost according to contemporary reports.

What is especially interesting about these coins is that they represent one of the most eclectic, diverse cross-sections of coins in circulation during the first part of the 19th century that has ever been found. Unlike the S.S. Republic and S.S. Central America, the coins in this group tend to be smaller denomination and much of the gold was produced in Dahlonega and the local New Orleans mint.(Even more interesting is the fact that only two Charlotte issues were included. This should tell us something about the geographic distribution of Charlotte coins).

The coins have been curated by NCS and, according to the reports that I’ve read, numismatists such as John Albanese, David Bowers and Mark Salzburg have commented on how exceptional they are from the standpoint of quality. In fact, Albanese was quoted as saying “…many of them look like they were just minted yesterday.”

NGC just published the first census of these S.S. New York coins and, from the look of it, there are some extremely interesting pieces that will be available. (more…)

A comprehensive population report of all the NGC-graded gold coins from the SS New York is now available. The SS New York operated a light cargo and passenger service between New Orleans and Galveston until it sank during a storm on September 7, 1846.

Coins recovered were conserved by Numismatic Conservation Services (NCS) and then certified by NGC. The newly released population report includes 297 gold coins representing a broad cross-section of coins used in commerce along Gulf of Mexico trade routes during the early nineteenth century.

Download: SS New York Graded Gold Coin Population Report (PDF)

Coins recovered from the SS New York are from Western Europe, South and Central America, and the United States. The US coins include several exemplary condition coins from southern mints.

For example, an 1845-D $2.50 graded NGC MS 64 is the highest graded example of this Dahlonega issue. Other notable examples include an 1844-D $5 NGC MS 63 PL, the only prooflike example of the date to be certified, and two 1844-O $10 NGC MS 63 pieces, tied as the two finest examples of the issue certified.

Read Full NGC Announcement

Numismatic Conservation Services (NCS) has been selected to conserve the coins recovered from the SS New York shipwreck. The coins comprise a diverse cross section of coins in circulation at the first part of the 19th Century, including an important group of exceptional quality southern mint gold coins. Numismatic Guaranty Corporation (NGC) has been chosen to certify the coins following their conservation.

The SS New York operated a light cargo and passenger service between New Orleans and Galveston including military and post office contract passage until it foundered during a hurricane on September 7, 1846. Seventeen of the 53 crew and passengers were lost, along with “thirty to forty thousand dollars in gold, silver, and bank notes,” according to contemporary reports. The ship was first discovered in 1990 by an amateur diver and Louisiana oilfield worker who relied on reports of snags from local shrimp fisherman to pinpoint the wreck. After completion of archeological survey conducted by the Minerals Management Service, and gaining legal title to the wreck, the original discoverers returned to recover the ship’s coins in 2006.

While primarily “treasure seekers,” they were also concerned about the historic value and preservation of the artifacts they salvaged. “We chose NCS to handle the post-recovery process because of their unique capabilities and expertise in working with shipwreck coins. Their process maintains the historical pedigree that was important to us and also renders the most beautiful artifacts,” comments Craig DeRouen of the recovery operation. NCS also conserved all coins recovered from the historic shipwreck SS Republic.

“Together NCS and NGC offer the only professional services to conserve shipwreck coins and then certify them, preserving the integrity and history of these coins. The coins from the SS New York demonstrate this with their wonderful quality and rich diversity, both markers of their considerable importance,” relates NGC Chairman Mark Salzberg, who oversaw the certification of the coins from the SS New York.

Read Full NGC Article Here

NGC has discovered that 2008-W Uncirculated Silver Eagles have been struck with two different reverse types. Many are aware that Silver Eagles issued in 2008 show numerous subtle modifications to their design. NGC has now confirmed that 2008-W Uncirculated Silver Eagles were also struck using reverse dies of the pre-modification style, or reverse type of 2007.

The two reverse styles are very easy to distinguish from one another. As NGC previously reported, the most obvious identification diagnostic is the U of UNITED on the coin’s reverse. On the Reverse of 2008, the U has a spur on the right side of the letter. The Reverse of 2007, has simply a bowl-shaped U, without spur or downstroke. A number of other diagnostics are evident and are illustrated below.

NGC is designating 2008-W Silver Eagles with reverse style of 2007 as REVERSE OF 2007. Coins of the newly modified style, or Reverse of 2008, are encapsulated without designation. “This is a significant hub variety,” comments Rick Montgomery, NGC President. “It has very clear diagnostics, and appears on one of the most widely collected of all US coins. We’re also very proud to be the first to present this information to the numismatic community and to attribute the variety as part of the NGC certification process.”

Read Full Article by NGC on the Discovery