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 Replies: 41 / Views: 11,032 |
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Bedrock of the Community
United States
11951 Posts |
I was offered this coin .. for what I think is a low price so I bought it, with no real chance to research it. I did read a couple of threads, before posting. In one swamperbob posted that NGC has slabbed these and sometimes they were not genuine. The coin does look better than it looks in picture, I don't have good luck taking pictures of coins in slabs. There does seem to be corrosion on the surface, I am guessing from being a ship wreck coin. Any opinions and comments are welcome. I guess MO is the Mexico mint ... what is FF? 1783MO FF 2 real    |
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Pillar of the Community
United States
1801 Posts |
GR58, you are correct, the Mo stands for Mexico City mint, the FF stands for the assayer in charge at the time. Nice coin for a Cazador shipwreck coin. A cool addition to any collection.
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Pillar of the Community
United States
2543 Posts |
I also have 2 of these, an 8 reales and a 2 reales. They are great coins to have in a collection. My kids lve the history of these coin and can't stop showing them off and telling the story of the El Cazador. This one looks in especially nice shape. I have seen some where the portrait and the shield are barely distinquishable. Nice pick up  What did you pick them up for if you don't mind me asking ? |
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Pillar of the Community
United States
5362 Posts |
That is actually a great looking coin for the Cazador. I think it is most likely an original.
The type that were slabbed (as a test by the former owner of the shop I authenticate for) were 8Rs that were cast fakes and could only be identified from the edge seam that went around the perimeter at the center of the coin. I would have to refer to my notes but I do not believe I bothered with SG tests on those two. I wish I had.
Those two were placed in holders of the type that covered the edge just as this one does. (Personally I hate these holders - there are a lot of clues on the edge.)
If you ask for the coin to be re-holdered by NGC, I wonder if you could request the support that allows the edge of the coin to be seen? Then there would be no chance of hiding a seam and a re-sale would be easier.
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Bedrock of the Community
 United States
11951 Posts |
Quote:
What did you pick them up for if you don't mind me asking ? I hope I didn't' pay to much .. the world coin price guide had .. I think .. VG $7 .. Fine $15 I gave $12 |
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Bedrock of the Community
United States
11951 Posts |
Quote:
If you ask for the coin to be re-holdered by NGC, I wonder if you could request the support that allows the edge of the coin to be seen? I will have to check with NGC on that |
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Pillar of the Community
United States
5362 Posts |
Good price $12 even if it is a counterfeit you can make back your investment easily.
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Pillar of the Community
United States
2543 Posts |
That is a great price. The T.V. coin show was selling that exact same coin for $149.99 |
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Bedrock of the Community
United States
11951 Posts |
Quote:Quote:
The T.V. coin show was selling that exact same coin for $149.99 Good price $12 even if it is a counterfeit you can make back your investment easily. $149 .. Sounds like a crazy price .. So I guess the higher price .. is because of the ship wreck .. I can't see the coin being anywhere near that |
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Pillar of the Community
United States
2543 Posts |
Yeah, the ones they were hawking came with a " COA " and a little booklet on the history of the El Cazador and how it's sinking affected U.S. history.
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Bedrock of the Community
United States
11951 Posts |
The guy I bought it from .. did say he had a case .. and papers .. he says he will look for it
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Pillar of the Community
United States
5362 Posts |
There was so much silver on the Cazador that it depressed the value of shipwreck coins in general.
You can collect shipwreck material - it has one market value. Or you can collect coins - they have a different take on value.
It is like chops - some collectors add value for chops while others deduct.
When it comes down to it a coin is only worth what you can get for it - all the books in the world not withstanding.
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Bedrock of the Community
United States
11951 Posts |
Thank you both for your opinions .. I was thinking $7 to $8 would have been a good price but offered $12, because I liked how it looked. Quote:
You can collect shipwreck material - it has one market value. Or you can collect coins - they have a different take on value. I will go with the coin value ... but the ship wreck sounds interesting .. I will google it later today .. |
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Pillar of the Community
France
1591 Posts |
The coin you have gets most of its value from being from an identified shipwreck.
As a coin on its own, it's damaged, without that history it would be valued around melt.
I can confirm that you indeed got a great price in both cases :)
Edited by MathieuMa
04/02/2013 08:31 am
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Pillar of the Community
Hong Kong
1270 Posts |
Should all ship-wrecked coins like this one El Cazador have a COA? GR58, do you have one? I bought a 1783 8R on ebay recently and it is claimed a ElCazador specimen, and with a COA (as follows), can anyone tell me this certificate is a valid guarantee to my coin? Sorry for the poor photography  This coin weighs 24.22 grams, S.G. will be done later.   ?Silver lining peeling off  |
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Pillar of the Community
United States
1757 Posts |
Shipwreck coins are interesting ... the copper and zinc leach out of the coins due to seawater action ... the %Ag on these coins do rise up ... I have recorded some in the 98-99% Ag range along with silver surface enrichment effects. Its common to see them with this coppery surface ... its the copper ... bleeding out ... in some cases.
John Lorenzo
United States
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Replies: 41 / Views: 11,032 |
Posted 04/01/2013 10:32 pm
