If you’re new to the rare coins world, you may feel overwhelmed at the amount of terminology you’re not familiar with. Below, R & S Rare Coins, in Cabool, MO, shares an explanation of the shipwreck effect and what it means for coin value. This information will help you in your collection efforts and when you have them assessed to be sold.

Understanding Shipwreck Effect Coins

What Is the Shipwreck Effect?

Coins that have spent time underwater, like when found in a shipwreck, are likely to have incurred damage due to exposure to salt water. The degree of damage is measured by surface disturbance and is decided on a scale created by the Numismatic Guaranty Corporation®. They range from shipwreck effect A (featuring minimal exposure and a superior eye appeal) to shipwreck effect D (coins that have lost design elements because of saltwater and may not be discernable due to this damage).

Wear grades also rate coins rated shipwreck C or better:

• UNC: no wear or evidence of having been used as currency
• AU: uncirculated, light signs of wear on the coin’s high points
• XF: extremely fine design features but light wear indications
• F: moderate to heavy wear on high points but most of the coin design is clearly seen
• VG: heavy wear that can flatten high design elements but still show the main design points.
• G: parts of the design are no longer visible, and heavy wear has worn away high design points

What Happens to Coin Value When They’re Shipwrecked?

Depending on the wreck, being part of a sunken ship can add value to a find even if the item is worn down. So long as coins were verifiably found on a particularly notable shipwreck, like one that has been missing for a long time or carried famous people, this factor adds value.

For regular shipwrecks, like merchant vessels that sank, the ship wreckage effect is different and will depend on the clarity of the coin markings and whether it was in circulation. 

In some instances, having been a part of a wreck can increase a coin's value. Other times, it will only be worth the gold or silver it’s made from. To learn more about ship wreckage and have your coins assessed, call R & S Rare Coins at (417) 962-5213. Visit the website for information on their gold and silver appraisals. The skilled staff offers fair prices on the spot for rare coins. They also provide new and used safes for sale so you can purchase vaults, floor or wall safes, and gun security safes to keep your prized coins and other valuables safe.