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This specimen, graded NGC AU-58, retains sharp details—nearly full liberty cap lines and bold eagle feathers—indicating minimal wear. Recovered from the 1865 wreck of the SS Republic, a sidewheel steamer lost in a hurricane off Georgia, it traveled in wooden kegs among $400,000 in gold and silver intended for post-war New Orleans.
Remarkably, it lacks "Shipwreck Effect"—no encrustation, corrosion, or saltwater etching typical of submerged silver. Such pristine preservation is exceptionally rare for shipwreck silver, as seawater usually reacts aggressively with the copper alloy, leaving pits or green patina. This coin’s survival in near-mint state, untouched by the sea’s chemistry, makes it a numismatic anomaly among SS Republic recoveries.
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