Tuesday, July 23, 2013

7/23/13 Report - Pendant Find, Gold Prices, Odyssey Marine, Fake Coins, Unlooted Tomb and Detecting Formula

Written by the TreasureGuide for the exclusive use of treasurebeachesreport.blogspot.com.

Heavy 14K & Diamond Pendant Find
The big news for me yesterday was the increase in the prices of gold and silver.  Gold went to over 1300 again.  You might remember it was way higher than that not too long ago, but took a dive.  Well yesterday, it regained over 6 percent in a day.  Not too bad!

Some are saying that silver will increase more rapidly and have a higher upside than gold.  And some are saying to expect another pull back in gold prices after the rapid increase.   You never know.

What I do know is that gold has risen dramatically over the past few years.

As for silver, I remember the days when the Hunt brothers once controlled so much silver that they pushed the prices up over $50 dollars an ounce.

This pendant find is heavier than a lot of rings.  Nice sized diamonds and sapphire.

As you know, the primary determinant of a diamonds value is quality, and after that, size.

The CEO of Odyssey Marine was on CNBC yesterday talking about the Gairsoppa and the business aspect of treasure hunting.

As you might know, there are a lot of fake coins out there.  The Chinese are making collectible and bullion coins and selling them like crazy.  I found a fake Credit Suisse bar once.   This article gives one quick and easy method for testing silver and gold coins.   Worthwhile, I think.


Archaeologists have found an unlooted royal tomb of a pre-Inca civilization from the year 700 to 100 in western Peru.  In the tomb they found more than 1,000 artifacts, including gold and silver jewelry and bronze axes.

Here is the link.


I've decided to create and refine the TreasureGuide (TG) MDS formula.  I've previously presented a little bit of it.

Here is the main part of the formula giving the four main factors in order of importance..    S = L x ToT x Sk x D

S stands for the amount of long term success.
L stands for the quality of the primary location where the detectorist lives.
ToT (Time on Task) is time spent detecting (includes research time as well as field time).
Sk for the skill level of the detectorist/
D stands for the quality of the detector or detectors used.

I was thinking of adding a fifth factor - E for effort.   Perhaps that factor could more accurately be described as Toughness.  Whichever I end up calling it, the factor indicates a willingness and ability to work in difficult circumstances and do difficult things.  For example, the willingness and ability to walk miles to reach an otherwise inaccessible location.  The willingness and ability to work in rough seas.  Living in a truck by the beach, etc.  That is a something that makes a definite difference.

I used to have a saying that I applied to detecting.  If you don't want to do it, do it.  One example would be working in rough seas when the bottom conditions are right and your ear phones keep getting knocked off of our head by the waves.   Or, working in a dip where it is impossible to use a scoop because of the packed rocks that won't give to a sand scoop.

That suggests another factor, C (creativity) for when you need to come up with alternate approaches to deal with difficult circumstances. 

Right now I have multiplication signs between the four main factors, but I'm sure as I refine this, some will be replaced by addition signs.  I doubt that all the factors are all multiplicative.  The only thing I feel real confident about at this point is the four main factors and their relative order. 

Let me know what you think.  What important factors am I leaving out?   Should any of the above factors be in another order?

One reader wants to do something about the current Florida laws that relate to detecting, but I haven't seen very much interest by others than that one fellow.  I'm a bit surprised by that.  

On the Treasure Coast beach detecting conditions remain unchanged.  We still have the south and southwest winds with a one to two foot surf.

For value, modern finds prevail right now.  Some rusty and encrusted artifacts are being found but not cobs or treasure coins in any number.

A nice low tide is coming up today around 3 PM.

One reader has maybe found an encrusted sward handle.  I'll report on that as we find out more.

Happy hunting,