If you’re a new coin collector or are interested in buying coins for the first time, you may be wondering how quality and potential damage affect a coin’s worth. Particularly, if coins were found in a shipwreck, does salt water severely damage in a coin and are they unsellable? Make sure you understand the worth of a shipwrecked coin before selling or investing by following the guide below.  

What Every Coin Collector Should Know About Shipwreck Effect

What is shipwreck effect?

Shipwreck effect is when a coin’s surface is disturbed from exposure to salt water. This disturbance can range from minimal to severe and is graded on a 70-point scale called the NGC Coin Grading Scale.

How are coins with shipwreck effect graded?

Coin collectors talk about shipwreck effect in terms of four categories: Shipwreck Effect A, B, C, and Shipwreck Effect. Coins in the “A” category show very little disturbance and are appealing to the eye. Coins in the “B” category are slightly damaged by saltwater, but the main design of the coin is not affected. Shipwreck Effect C coins are moderately disturbed but remain somewhat visually appealing and can be identified by an expert. Finally, coins graded “Shipwreck Effect” are damaged so severely that the design of the coin is affected, and a coin expert can’t properly identify it. 

How is wear graded?

After a numismatist determines a shipwreck effect grade, coins graded A-C are also inspected for wear. Coin collectors describe the wear of a shipwreck coin using seven different terms, which is determined by how much the detail of a coin has been affected by saltwater exposure. From least to most wear, possible grades are Uncirculated, About Uncirculated, Extremely Fine, Very Fine, Fine, Very Good, and Good.

How are gold and silver affected?

Saltwater affects gold and silver differently because of their distinct compositions. Gold is a stronger metal and doesn’t react much to saltwater, so these coins are less likely to be disturbed. On the other hand, silver coins are more easily corroded and will exhibit signs of shipwreck effect.

Whether you’re a seasoned coin collector or you’re just getting started, Coins & Carats, Inc. in Kalispell, MT, will help you buy or sell rare coins. Since 1991, their professional and knowledgeable staff has been proudly serving their customers with unique coins, and owner J.B. Love comes from a family of numismatists. If you have any questions about their coins or services, call (406) 752-2646 or visit them online.