Gold and Energy Advisor: Gold, Oil & Energy Markets Investment Research
James DiGeorgia, Mr. Macro
- Chief Editor -
Mr. Macro
Geoff Garbacz, Mr. Micro
- Chief Strategist -
Mr. Micro
Dan Hassey, Mr. Retirement
- Senior Stock Analyst -
Mr. Retirement

Gold and Energy Advisor's Real Wealth

Real Wealth #104  05/21/2007



Shipwreck Salvage Yields Enormous Colonial Treasure: Is this an investment you should be buying into or avoiding like the plague?

Dear Subscribers,

 

There's a great deal of excitement being generated over news of what may well be considered the richest recovered shipwreck in history.

 

While details about the ship itself are being held in extreme secrecy, it is believed that they are bringing home 17 tons of colonial-era silver and gold coins from somewhere in the Atlantic Ocean. The project itself was conducted by the Odyssey Marine Exploration a publicly listed Sea Salvage and exploration company which has titled the project "Black Swan".

 

The reason for the secrecy is pretty obvious, as when you find a treasure of this size, it is important to make sure that poachers don't come along to make a similar claim. According to Odyssey co-chairman Greg Stemms, more than 500,000 pieces were extracted from the wreck and are expected to fetch an average of $1,000 each from collectors and investors.

The company has been declining to release specifics on exactly where the ship was, what country of origin that the coins came from, or what exactly the ship may be where this find was rescued from. The plan is to release a formal statement when the time is right, when all of the facts have been verified surrounding the find. Nick Bruyer, who is a rare coin expert that examined the coins said that, "For this colonial era, I think is unprecedented... I don't know of anything equal or comparable to it."

 

This morning I received and email offering coins from this shipwreck graded and certified by Numismatic Guarantee Corporation which is one of the two very best coin certification and grading services in the world.

 

In addition to, grading and certifying NGC has a sister company that is capable of professionally cleaning and recovering coins from the ocean. The only problem is the silver and gold coins from shipwreck like these even when professionally curated, and cleaned still exhibit damage from the sea water.   

 

I've had the opportunity to examine coins from this shipwreck last year and while they are wonderful collectors coins THEY ARE NOT RECOMMENDED AS AN INVESTMENT.

 

With over 40 years of rare coin collecting, investing and being a dealer as experience I can tell you the coins I've seen offered from this shipwreck are way overpriced.

 

The $500 million value that's being touted based on $1,000 a coin is an ultra-retail figure and is for coins that have ALL been impaired by seawater and as a result are damaged.

 

If you're thinking of buying some of these shipwreck coins, you should know that if you decide to ever sell these coins you may wind up with as little as 25% of the purchase price. These are cool coins but not investments.

 

Buy a coin or two if you like them and get a kick out of this kind of stuff. As an investment however --- please don't. Please don't.

 

Best Wishes,

 

James DiGeorgia

Editor and Publisher

 

P.S If you're interested in really investing in gold, silver and platinum start with a BONUS GOLD when you sign up for the best deal and investor can make for himself in the market today. You get access to this country's top 22 investment newsletters, investor intelligence services and even 3 institutional stock evaluation tools that are incredibly powerful yet so easy a 10 year old can use them to pinpoint winning and losing stocks.

 

 

-------------Announcement--------------

Update on our Dow 13,000

www.21stCenturyAlert.com

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(Gold & Energy Advisor subscribers are eligible!)

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This all started on the very day the Dow Jones broke 13,000 when a really exciting little gold coin deal walked through the doors here in Boca Raton. I bought this gold deal immediately, thinking these gold coins would make a really wild and wonderful renewal or subscription bonus offer for www.21st Century Alert.com. Besides the Olympic $5 gold coins in this little gold deal, I also purchased 45 1987-W Constitution U.S. $5 Gold Coins in Flawless, Gem Proof PR70 Ultra Cameo condition, graded by NGC, one of the top two independent rare coin grading and authentication services in the world.

 

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These 1987-W Constitution $5 coins were struck at the West Point Mint and commemorate the 200th anniversary of the United States Constitution. These gorgeous gold coins trend for a whopping $1,350 in PR70 Ultra Cameo condition. These coins are also RARE. Less than 9% of the original proof mintage of these gold treasures has graded Gem Proof condition (PR70 Ultra Cameo) out of an original mintage of 651,659. That's rare!

 

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