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Tips for buying sunken treasure coins

Ian Harvey

Recently, sales of sunken treasure ship coins have been on the rise. These coins are appealing because we think they retain their value and so are currently a bargain, or we believe they will eventually increase in value.

This would make coins a good investment. However, the hype surrounding the coin can determine whether or not the coin is a good investment. The more hype made about a sunken treasure coin sale, the more likely the coins will decrease in value over time. In most cases, business works on supply and demand spectrum. You would expect the coin’s value to increase since there is more demand, but not so much in this case.

Coins from the reign of Charles IV of Spain salvaged by Odyssey from the “Black Swan” site and ready for sale. Photo Credit

Coins from the reign of Charles IV of Spain salvaged by Odyssey from the “Black Swan” site and ready for sale. Photo Credit

Short-Term Hype

Collectors look to find old sunken treasure coins because it is their hobby and passion. Once in a while, a collector may not know what they are purchasing and may get lucky with a rare coin that holds tremendous value. But before buying a lost treasure, think about the asking price and what is driving it. Find out why the price for the coin is high and whether or not that value will be relevant past the short-term hype. Do not just buy an expensive coin without any knowledge – make sure it is authentic and special. The chances are that in a couple of years, that coin is going to be useless.

New Discoveries -Fall in Prices

As coins are being discovered, the previous coins on the market will always fall in price due to supply and demand. Once coins get outdated, they may also no longer be special. If tomorrow a huge sunken treasure discovery is made that floods the market with tons of new coins, then the focus is on these new coins and not on the old ones, About Home reported.

Sample of coins Photo Credit

Sample of coins Photo Credit

Investor Quality Coins

If you want to invest in treasure ship coins, make sure they are authentic and are of the highest-grade quality. Authenticity and grade quality are the two key things to look at when purchasing for purely investment purpose. There are many fake coins out there!

Taking a Look at the Coin

Pay attention to the details and the specifications of the coin. Do not buy into what the provider is telling you about the sunken treasure or the discovery.

Rare 8 Escudos Lima dated 1710 recovered from the 1715 Fleet. Photo Credit

Rare 8 Escudos Lima dated 1710 recovered from the 1715 Fleet. Photo Credit

Read another story from us: Old hand, coins, and treasure map found in Florida attic

Make sure to look for authenticity and grade. Then use that to find the value and make a decision as to whether or not it will serve the coin market well within the next five years.