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Stash of first-ever US gold coins (worth $100K each) found in Gulf of Mexico shipwreck

Added to the Old Boat Blog on May 15, 2008 at 1:02 am EST

Divers exploring wrecks in shallow water in the Gulf of Mexico have located the remains of a 19th-century paddle wheeler that had, among other exciting treasures, a bunch of coins that are the first gold coins ever minted in the United States.

Gold coin minted in Dahlonega, Georgia, 1840 The coins were minted in New Orleans; in Charlotte, NC; and in Dahlonega, Ga. The Civil War stopped the minting for a time.

Experts think that the ones in the best condition from this latest find could be worth up to $100,000 each. This is very exciting news for shipwreck enthusiasts as well as coin collectors.

The boat, called the New York, sank in a storm off the Louisiana coast in 1846. The coins date from a time before paper money was printed in the States. The coins number in the hundreds, and are certainly worth several thousand dollars each — with the top ones values between $50,000 and $100,000.

The coins are likely to be put up for auction once the collecting, sorting and appraising stages are completed.

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