2018-02-07 Wed

Treasure salvors have reported recovering a number of gold and silver coins at a site off the coast of North Carolina. It is believed to be the final resting place for the SS Pulaski, a vessel lost in 1838.

The Blue Water Ventures International and the Endurance Exploration Group have been on a salvage operation since past two months.

Micah Eldred, founder, and CEO of Endurance Exploration Group said the equivalent of as much as $150,000 face value in coins is reported to have been carried aboard the vessel.

On 14th June 1838, the American steam packet Pulaski strayed 30 miles off the coast of North Carolina when its starboard boiler exploded. Packet trade generally refers to any regularly scheduled cargo, passenger and mail trade conducted by ship. The ships are called “packet boats” as their original function was to carry mail.

Blue Water Ventures marine archaeologist James Sinclair accompanied the crew and dove the site earlier in January.

The coins recovered thus far were located approximately 115 feet below the ocean’s surface. Approximately 70 U.S., Spanish, British and Mexican coins have been retrieved.

Eldred said Endurance Exploration enlisted Blue Water because of the latter’s experience in shallow water salvage. Eldred said the salvage operations have employed both human divers, using commercial diving gear and specialists directing remote-operated vehicles.

Eldred said that salvors are not revealing any information about the coins retrieved as the finds are still subject to admiralty law, and the courts will still have to establish title before any of the finds can be sold. Eldred said Endurance Exploration is the physical custodian for items recovered from the wreck site.

Numismatic Guaranty Corp. in Sarasota, Florida, is assisting the salvors in cataloging the coins as they are retrieved. NGC will ultimately authenticate and encapsulate coins after they are conserved through the removal of encrustations by NGC affiliate Numismatic Conservation Services.