The Copper Pot

From the Charlotte Observer (hat tip: Judi Irvine):

19th-century shipwreck is suddenly turning up gold coins off South Carolina coast

A 180-year-old shipwreck popular with scuba divers is proving to be a trove of rare coins and artifacts for a salvage project launched 20 miles off the South Carolina coast.

Known to divers as “The Copper Pot,” the wreck is actually the Steamship North Carolina, which collided with another boat in 1840 with hundreds of gold coins stuffed in passengers’ steamer trunks.

The first of the newly found coins — “several” $5 gold pieces dating from the mid-1830s — were brought up in late September, along with 19th Century dinnerware and marble, according to Blue Water Ventures International based in Florida.

“I can’t believe what we’re finding,” Keith Webb, president of Blue Water Ventures, told McClatchy news group. “The coins look almost as if they were just minted and it’s blowing our minds. It’s because they were hidden by a large piece of copper and were not moved around in the sand by the current.”

Blue Water Ventures and its partner Endurance Exploration Group issued a report that contends “the aggregate loss in money was large” when the ship went down, and would today be valued in the tens of millions of dollars — mostly in gold coins. This includes one passenger who claimed he lost $15,000 in the incident.

However, Webb’s research suggests these won’t be the usual gold coins found on 19th Century shipwrecks. Many of the passengers were likely carrying coins from the newly commissioned U.S. Mint in Dahlonega, Georgia, which operated only 24 years.

Coins from the Dahlonega mint are rare and coveted by collectors and historians.

“Regardless of denomination, any high grade Dahlonega gold coin with a good strike… is a real treasure and based on past history has been a blue chip coin investment,” according to the DahlonegaGold.com.

The S.S. North Carolina was previously searched for treasure by an outfit called MAREX, which salvaged $700,000 worth of coins in the late 1990s. MAREX ceased working the site in part because the coins were difficult to salvage.

More at the link.

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