Friday, June 24, 2011

6/24/11 Report - Atocha Silver Bar & New Sedwick Auction Open

Atocha Silver Bar in New Sedwick Auction.

Really neat silver bar with a lot of information inscribed.

Here is the lot description.

Large silver bar #56, 84 lb 1.4 oz troy, Class Factor 0.9. Choice bar. Markings: ATS monogram to left, HE to right, V at upper right corner. manifest number IUCCXXIX, fineness IIU C C C L X X X (2380 = 99.2% pure) to left of partial IoV.Ess. / MEXIA assayer cartouche, also 3 nearly complete tax stamps and posible 1622 (faint) date with P initial for Potosí [top left], very deep "double-scoop" assayer's "bite" in middle. From the Atocha (1622), with Fisher photo-certificate #56

Last night I received an email from Sedwick Coins with an announcement about two auctions. The first auction is the First Sedwick Coins All Internet Auction, which is now open for bidding online. Here is the information they sent about that.

Our first “Internet Only” Auction #1 is now available for viewing on iCollector!

Due to consignor demand we are holding our first “Internet Only” absentee-bid auction online from now until the closing at 9 pm EDT on July 28. Here is how it works:

Sign in and register to bid for Internet-Only Auction #1 (Summer 2011) powered by iCollector (click here), just as you do with our regular auctions (or set up a new account on iCollector in seconds). Then browse the lots and bid on them or bookmark them to watch. Bid your maximum so you won’t lose the item you really want. The iCollector platform will treat it as a “secret maximum” and only show the current high bid (which is reduced to one increment above the next highest bid). Your maximum can only be seen by YOU. If you are outbid, iCollector will notify you instantly. The difference is that there is no LIVE bidding at the end, and all the lots will close at the same time. Terms and conditions are the same as for any of our other auctions. Also, since everything will be starting at LOW levels (practically all without reserves), we expect high participation, and there will NOT be a post-auction sale.

This auction of 789 lots features our first offering of silver cobs from the Sao Jose wreck of 1622 (read more) , consisting of over 350 coins in over 90 lots, most of them in groups of 3, 6 and 9 coins, as well as key dates and rarities in individual lots. You will also find a large Atocha silver bar, shipwreck and world coins (silver and gold), artifacts, books and documents. There is plenty here for the budget-conscious buyer, so take a look and plan to BUY!

We are posting the lot titles and photos now and opening the auction for bidding, although the cataloging is not complete. Watch for additional descriptions over the coming weeks.

We are posting the lot titles and photos now and opening the auction for bidding, although the cataloging is not complete. Watch for additional descriptions over the coming weeks.

You can view the auction lots in person at the Summer FUN show, July 7-9, at the Orange County Convention Center in Orlando, Florida. After the show (up until July 27), please make an appointment to view the lots at our office in Winter Park.

The second auction they mentioned is the Treasure World Coin Auction #10 that will be conducted in October. They are accepting consignments for that auction up until Aug. 1

Here is the contact information.

Daniel Frank Sedwick, LLC
P.O. Box 1964
Winter Park, FL 32790
telephone: 407.975.3325

fax: 407.975.3327

As you may recall, not too long ago Odyssey Marine stock was selling for over $4.00 per share, but then took a tumble when they announced that they were going to offer millions of additional shares.

Yesterday the stock (OMEX) closed at $3.05 per share. Here is the reason.

According to GLOBE NEWSWIRE, TAMPA, Fla., June 21, 2011,

Odyssey Marine, a pioneer in the field of deep-ocean exploration, today announced the closing of its previously announced public offering of common stock at a price to the public of $3.05 per share. The underwriters exercised in full their option to purchase 720,000 shares at the offering price, resulting in total sales of 5,520,000 shares.

Odyssey intends to use the net proceeds from the offering for shipwreck exploration and recovery projects, other working capital and general corporate purposes.

Yesterday I mentioned that the Whites Dual Field is a lot lighter than the Excalibur. I should have added that some people think the coil on the Dual Field is too buoyant and add a weight when detecting in the water.

Treasure Coast Beach Detecting Forecast and Conditions.

Still no change. Wind is out of the south and the sea is calm. The sea is expected to increase up to a couple of feet Monday and Tuesday, which isn't even hardly enough to mention. The predictions show the seas dropping back down right after that.

No signs of any storms in the Atlantic either. Its just a same old same old kind of thing. I'll bet we get some kind of storm before the summer is over.

Beach hunting here sure has been slow lately.

Happy hunting,