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1807 8 Reales Cuban Waters Wreck

 
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Pillar of the Community
United States
540 Posts
 Posted 01/05/2020  1:18 pm Show Profile   Bookmark this topic Add CherryPicker1 to your friends list Get a Link to this Message
I was wondering what this coin is worth? Thanks

Pillar of the Community
United States
1856 Posts
 Posted 01/05/2020  1:22 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply
I used your post title to search with google and found this:
https://www.vcoins.com/en/stores/co...Default.aspx
Pillar of the Community
United States
540 Posts
 Posted 01/05/2020  1:24 pm  Show Profile   Bookmark this reply Add CherryPicker1 to your friends list Get a Link to this Reply
Wasn't sure if the value would be different because the condition on this one is better and a different date.
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 Posted 01/05/2020  7:28 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
the condition on this one is better


? Is it?

Anyhow, I think the link gives a good order of magnitude reference if that is a coin you are interested in buying.

Rarity aside, I find the very uneven environmental damage to detract from the coin's appeal. But that's just me.
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United States
1 Posts
 Posted 01/09/2020  11:30 pm  Show Profile   Bookmark this reply Add Lopezcoins911 to your friends list Get a Link to this Reply
They are very rare and brand new to the market. I know this because I was the one that certified them.

Brand new to the market and fresh from NGC
"Cuban Waters Wreck c. 1807" genuine Spanish shipwreck 8 reale coins

This is a batch that I personally located and brought back from Cuba, with paperwork to prove the pedigree and get them certified as officially from Cuban waters. You will not see these unless they passed through my hands at some point.
Divers located the coins off 20' of water off the coast of Cuba, could not find a ship site, but chiseled these out of the coral. I have been back and there are none left. I've been able to certify only about 75 coins and they range in dates from 1780-1807 more common from mints Mexico City and scarcer from Lima Peru, New Guatemala and Bolivia.
Pillar of the Community
Canada
3169 Posts
 Posted 01/10/2020  03:08 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
In my view the lack of an identified wreck makes them much less interesting.
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United Kingdom
17 Posts
 Posted 01/16/2020  4:58 pm  Show Profile   Bookmark this reply Add offimatrix to your friends list Get a Link to this Reply
There's a flood of wreck coins on market and privet sites.

There can go for anything if there's a COA with them.
The more famous a wreck is the more they could be worth.
Pillar of the Community
United States
4920 Posts
 Posted 01/17/2020  11:15 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Wreck coins are a mixed bag - from good to bad. Unlike most collector coins they are typically damaged. I prefer to view and value them as historical artifacts. It is the actual context of the coins that provides value.

One warning - Market price is a heavily manipulated number that I place no trust in whatsoever. Buyers are often kept in the dark about the actual number and grades of the coins discovered. The methods used to market these coins is often directly opposed to the actual historical value of the coins themselves.

So if you like the coin - it is worth what you are willing to pay for it. Don't expect to get top dollar when you go to sell the coin, in particular if you hold onto the coin until long after the wreck has been forgotten again.

Over my 60 plus years of collecting and buying collections, I have picked up quite a few. Most were encapsulated and I did not intend to buy them - they fall into the category of collateral acquisitions - like the inevitable can or jar of wheatie pennies that comes with every collection.

The only wreck I really find interesting is the SS New York which sunk in 1846. It coincides with the time frame of John L. Riddell's "Monograph of the Silver Dollar" and is of most interest to me because it provides data that confirms the estimate Riddell made in the book regarding the percentage of counterfeit dollar coins circulating in the US. Unless or until another period wreck is discovered carrying a cross section of circulating coinage, it is the only confirmation there will ever be for Riddell's statistics.

Since I collect counterfeit Mexican 8Rs - those are the only wreck coins I am interested in buying. Genuine coins from wrecks do not interest me.

My book on Counterfeit Portrait 8Rs is available from Amazon http://ccfgo.com/TheUnrealReales or from me directly if you want it signed.
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United States
698 Posts
 Posted 01/18/2020  08:19 am  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply

Quote:
They are very rare and brand new to the market. I know this because I was the one that certified them.


How cool is that? Are you one of the divers?


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