Sunday, October 23, 2011

10/23/11 Report - Real Eight Company 1977 Auctioned Lots

Written by the TreasureGuide for the exclusive use of

February 1977 Auction Catalog.

I've been talking about the upcoming Sedwick Coins auction, but here is a catalog from an auction held back in 1977. Among the coins auctioned were a large number from the Real Eight Company. They also sold artifacts and bars.

The auction catalog also gives some of the history of the early 1715 Fleet salvage efforts.

Auction catalogs can be very useful for research. I recommend browsing as much material as you can about treasure items. That information can be very useful in a variety of ways.

This auction catalog also has the list of prices realized for each of the lots. It is good to have such a list, but very often you will not find the list along with the catalog.

It is interesting to see the prices that things brought 34 years ago. But if you want to see how things have appreciated in value, you also should take into account the value of the dollar. Today's dollar does not have near the value of a dollar back in the 1970s.

Just as an example here is how some of the coins were being sold and the prices realized.

Catalog Illustration.

There were seven lots of five coins like those shown in this photo. Here is the description for those seven lots.

Each of the following lots contain 8-reales with some portion of the crown detail visible, with a partial upper shield.

As I said, each lot contained five cobs. Those lots brought from $125 to $85 per lot.

That seems cheap today, doesn't it? Eight-reales in decent condition for under $25 per reale! Again, you have to remember that those were 1977 dollars.

Anyhow, old auction catalogs can be very good research tools. And it is fun to look through the photos of items and whatever additional information might be included.

I remember one time when some guys came along and were hunting cobs for the first time. When I showed them where to look, they actually found a half reale. They were shocked at what it looked like. I think they might have thrown it away if I didn't tell them what it was. Their image of what they were looking for was a big shiny piece of eight. What they found was much smaller than what they expected and totally black. I still remember their look of amazement as they looked at each other wondering why it looked so different than what they imagined.

People don't expect silver to be as black as it sometimes is when it has been in salt water for a long time.

Treasure Coast Beach Detecting Forecast and Conditions.

Tropical depression 18 is down by Central America, and there is another disturbance over by the windward isles. I don't think they'll affect us too much real soon.

On the Treasure Coast, the wind is still mostly out of the north. Monday the seas will be relatively calm. The surf web sites are still predicting higher seas, up around five feet, on Tuesday.

That might cause some improvement. I'm still rating the Treasure Coast conditions as poor.

I need to remind you that my conditions rating is based upon the likelihood of finding old treasure coins on the beach. It does not tell you anything about the probability of finding other types of artifacts or items on the mainland.

Happy hunting,