12/28/2022 | 3 min read

a shipwreck coin? What the what?

A shipwreck coin is just that - a coin that has been recovered from a shipwreck. Shipwrecks can occur for a variety of reasons, such as storms, navigational errors, or attacks by pirates or other vessels.

Here’s the interesting part that you may not have thought of - when a ship sinks, it often takes its cargo with it to the bottom of the sea. This can include a variety of items, such as jewelry, art, and you guess it - silver and gold coins.

Over time, these shipwrecks can be discovered by treasure hunters or archaeologists, who may recover the coins and other items from the wreckage. The coins that are recovered from shipwrecks can be quite valuable, as they are often rare or historical specimens that are not often seen in circulation. Many shipwreck coins are well-preserved, as the conditions at the bottom of the ocean can be ideal for preserving metal objects.

In the case of the coin we’re talking about today - The El Cazador was a Spanish merchant ship that sank in the Gulf of Mexico in 1784. Its cargo of coins, including the 1783 El Cazador NGC shipwreck coin, were intended for use in Spanish colonies in the New World.

so… is it gold? silver? valyrian steel?

The coin is made of silver and was minted in Mexico. It is classified as a Type II Cob coin, which was produced in Spanish America from the 16th to the 18th centuries and had a rough, uneven surface due to the casting process.

In the 18th century, Spain was a major global power and had a vast empire that included many territories in the Americas, including Mexico and much of Central and South America.

These territories were rich in precious metals, and the Spanish used these resources to mint a large number of gold and silver coins, which were used as currency throughout the empire.

It is possible that the El Cazador was carrying a shipment of these coins back to Spain when it sank.

how many coins were lost in the shipwreck?

It’s difficult to determine how many coins were lost in the 1783 El Cazador shipwreck, as there is limited information available about the specific details of the shipwreck and its cargo.

El Cazador was believed to have been carrying a large amount of gold and silver coins when it sank in the Gulf of Mexico in 1783.

Not all of the ship and treasure have been found, so it is impossible to know for certain how many coins were lost in the shipwreck.

Some estimates suggest that the ship was carrying as much as $60 million worth of coins and other valuable cargo, but this is purely speculative and there is no way to confirm this estimate.

in conclusion…

For over 200 years, the El Cazador and its treasure remained lost, until it was finally discovered in the 1990s. Among the coins recovered from the shipwreck were a number of 1783 NGC Shipwreck Coins, which have since become highly sought after by collectors and enthusiasts.

At Pocket Pawn, we love nothing more than getting our hands on these rare and beautiful coins. And when we do, we like to make them available to our customers at a fair price. So if you're in the market for an El Cazador 1783 NGC Shipwreck Coin, keep an eye on our inventory - you never know when one of these treasures might turn up!

If you're a coin collector, don't miss the chance to add this amazing piece to your collection – stop by Pocket Pawn today to see if we have it in stock!