HERITAGE SHIPWRECK & TREASURE COINS SALE

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V27 2024 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 27, Number 32, August 11 2024, Article 12

An article from Heritage highlights several interesting lots in their upcoming Shipwreck & Treasure World Coins sale. -Editor

Our August 19 Spotlight: Shipwreck & Treasure World Coins Showcase Auction is a captivating auction dedicated to the treasures salvaged from the depths of history. This showcase features an array of gold "Finger" bars and Rincón 2 and 4 Reales from the famed "Golden Fleece" shipwreck. Additionally, you will find various gold and silver issues recovered from the historic 1715 Fleet, along with a remarkable Tumbaga bar, detailed below. The auction also includes fascinating examples from Spanish and Dutch shipwrecks, offering collectors and enthusiasts a unique glimpse into the nautical past.

The Tumbaga bar referenced above is a quite curious example and one of a few extant lacking original assayer markers. At 3.88 lbs, it measures 236x62x15mm. It was salvaged from the "Tumbaga wreck" (c. 1528 off Grand Bahama Island), nicknamed after the vast amount of Tumbaga pieces recovered. The Tumbaga, a term learnt by Conquistadors in their first expeditions, were low-fineness, gold or silver ornate relics treasured by original American cultures. From idols to jewelry, mortuary masks to ceremonial ornaments, these were the first precious metal spoils looted by the Spaniards during their incursions into the continent. Though a few intricate and lavish pieces were brought back to Spain, most were crudely melted down — some theorizing they used the native's methods of casting — and swiftly shipped to the King.

The "Tumbaga Wreck" is from perhaps the oldest shipwreck treasure yet unearthed in the New World. Before the salvaging of the wreck, in the early 1990's, little to no study had been done regarding these early, important pieces. Douglas R. Armstrong was hired by Marex, the salvaging company, to conserve about 200 bars retrieved. Armstrong promptly realized how important the discovery was and took the opportunity to do a thorough study of this unprecedented group of bars. An extensive analysis of the stamps and purity of the pieces made it possible to better understand these archaic Numismatic items from the first European settlers to dare conquer the Americas.

Philip III "Atocha" Cob 8 Reales ND (1612-1616) P-Q AU (Saltwater Effect), Potosi mint, KM10, Cal-916. 26.20gm. Grade 3. Salvaged from the "Nuestra Señora de Atocha" (sunk in 1622 off Key West, Florida). Surprisingly detailed given the saltwater exposure. Offering notable luminosity and saturated peripheral tone.

The Nuestra Señora de Atocha was the Admiral Galleon of the Tierra Firme Fleet, a twenty-eight-ship fleet carrying an unprecedented amount of treasure from the Americas. Sailing from Havana bound to Spain on the 4th of September 1622, the armada was hit by a massive hurricane in the Florida Keys, most of the fleet being decimated and the treasure sinking to the Atlantic seabed. The Spanish efforts to retrieve the precious cargo weren't fruitful, which led to the scattering of the vast amount of treasure across the Florida coast with subsequent hurricanes. The original manifesto of the Atocha was impressive: 24 tons of silver in 1038 ingots, 180,000 Pesos in silver coins, 582 copper ingots, 125 gold bars and discs, 1,200 pounds of worked silverware and other goods; and that's only what was officially transported, since smuggling treasure to avoid taxes was very common in the period, with some estimating that a large percentage of the total cargo was in contraband. In 1969, treasure hunter Mel Fisher began a long-lasting, 16-year quest to locate the treasure. Over the years, isolated coins and artifacts were found scattered across Florida's "treasure coast", many given to investors who funded the operation. In 1973 three silver bars were found and matched to the original 17th century manifesto, leading the crew closer to the main wreck site. By 1980 a significant part of the Santa Margarita had been located, counting with gold bars, silver coins and jewelry. On July 20th, 1985, the motherlode was located, when divers found a "reef of bars". The main pile of the Atocha provided countless artifacts which quickly became immersed in Florida's pop culture and would later become perhaps the world's most famous shipwreck treasure in history.

(1700-1714) Charles III Pretender gold "1715 Fleet" Cob 2 Escudos

Charles III Pretender gold "1715 Fleet" Cob 2 Escudos (1700-1714)-ARC MS64 NGC, Santa Fe de Nuevo Reino mint, Cal-Type 242. 6.6gm. Arce as assayer. 300th Anniversary Find. Luminous specimen with deep engraving to the visible motifs. Only three examples are presently certified higher at NGC, conditionally scarce thus. Accompanied by photo COA.

Cataloged by some as a posthumous issue of Charles II, under the reign of Philip V, this piece was in fact struck under the influence of the Holy Roman Emperor Charles VI, who partially reigned Spain during the 14-year war of succession that followed the death of Charles II. He was accepted in Catalonia, where he stayed for 6 years, until the death of his brother made him return to Vienna to be crowned Emperor, leaving the throne to Philip V.

On July 30th, 1715, a Spanish treasure fleet, which would later be famously known as the 1715 Fleet, encountered a hurricane that claimed a sizable portion of its galleons and crew. A reported 1,000 lives and 14 million pesos were lost, including an equal amount of treasure in contraband. It's hard to estimate the value lost when measured in today's currency, but one can imagine the extensive caliber of cargo when considering the convoy was a combination of two different fleets: the Nueva España Fleet, which got stuck in Veracruz for two years before it could join the Tierra Firme Fleet. After more delays in Havana, a 12-13 ship convoy left with an enormous amount of accumulated cargo, never to reach Spain. The Spaniards salvaged the wreck for a few years afterwards, recovering nearly half of the official cargo from shallow-water wreck sites. Modern salvaging began when Florida resident Kip Wagner found a "piece of eight" at a beach after a hurricane and was intrigued by its origins. With old maps, metal detectors, a small plane, and a permit from the state of Florida, Wagner located wreck sites and artifacts, ultimately putting together a team of archeologists, divers, and investors. This was the beginning of the Real Eight Company. As the Real Eight team combed the seabed with suction machines, they found jewels, emeralds, Chinese porcelain, silverware, and gold & silver ingots. Furthermore, they found as many as 10,000 gold Cobs and over 100,000 silver Cobs. These huge discoveries uncovered yet-unknown numismatic pieces and ultimately made rare gold Cobs "common" (though still very high-end for collectors). The salvaged coins were mainly from Mexico, Colombia, Peru, and Bolivia, minted primarily between 1711 and 1715, although numerous earlier pieces from the 1600's were also recovered. As modern salvaging continues in these underwater sites, we expect many more exciting discoveries to be made, including the recovery of the last five or six ships that have yet to be found.

Charles & Johanna "Golden Fleece Shipwreck" gold cut "Finger" Bar of 53.37gm ND (c. 1550), 30x25x13mm 53.37m. XRF scan: 20K. An enchanting piece cut from the end of a larger ingot and bearing the full XX stamp for 20K. One can still appreciate the bits of coral encrustation from the nearly 450 years under the seas. At this time, gold was not yet struck in coins, thus why larger ingots were chiseled/cut into smaller bits for change in trade. According to consignor, salvaged from the Golden Fleece shipwreck

The Golden Fleece shipwreck is a vessel in the northern Caribbean nicknamed for a royal stamping, known as Golden Fleece, that was found on several of the gold 'finger' ingots and coins. A few dozen of these gold and silver ingots were salvaged with varying purities, reminiscent of the famous "tumbaga" bars. Significantly, it is believed that the Golden Fleece ingots are the only known examples made in the colonies between the "tumbaga" era of the 1520s and the ones found on the 1554 Padre Island Fleet. Almost all the recovered coins are Mexican Carlos-Juana silver pieces (all assayers prior to S) apart from some extremely rare Santo Domingo pieces. Notably, three examples of the very first 8 Reales ever struck in the New World were found - the Rincón "Early Series" 8 Reales of 1538.

To read the complete item description, see:
(c. 1550) Charles & Johanna Gold Cut "Finger" Bar (https://coins.ha.com/itm/mexico/mexico-charles-and-johanna-golden-fleece-shipwreck-gold-cut-finger-bar-of-5337gm-nd-c-1550-/a/61405-21113.s)

Philip II Cob 8 Reales 1590 T-M AU55 NGC, Toledo mint, Cal-752. 27.51gm. Date at beginning of obverse legend. A scarce piece, here presented with well-struck peripheries with radiant crevices and very round flan.

To read the complete item description, see:
1590 Philip II Cob 8 Reales (https://coins.ha.com/itm/spain/spain-philip-ii-cob-8-reales-1590-t-m-au55-ngc-/a/61405-21247.s)