Toll Free 800-650-9030 International 239-948-6915
Order By Fax 239-949-9537
Toll Free 800-650-9030 International 239-948-6915
Order By Fax 239-949-9537
© 2007 Atocha Treasure Company LLC All Rights Reserved
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DIVISION COMMITTEE
GOOD NEWS! Division for the 1715 wreck sites has been set for the second week in June and the target date for the Margarita and Atocha divisions is early September.
The Division Committee for Atocha 1985 has met five times in an effort to deal with the overwhelming material found. Many points have been discussed, experts called in for appraisals, formulas worked out and refined, and several decisions made. |
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| Although everyone was anxious for a division as early as possible, we had to determine the rate at which we could physically prepare our inventory, and how to set fair values for the material. The enormous bulk of the past year’s find, combined with factors that we never dealt with before, has made the task of the Division Committee formidable! Some of the points we had to deal with before realistically setting a division date are as follows: | |
| EMERALDS: Atocha 1985 yielded3l5 rough emeralds from under one carat to 77.73 carats. These emeralds were not listed on the manifest but have been identified to be from the Muzo mine region in Colombia. We had to educate ourselves quickly about rough gems, appraising, and possibilities of cutting. Five appraisers have looked at our collection and have greatly increased our knowledge. | |
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The Division Committee voted that the emeralds will not be cut by Treasure Salvors prior to division. The risks of cutting cannot be entirely known, and the Company is not willing to take the responsibility.
A problem with dividing rough stones is that each emerald has a different value per carat depending on its quality. If rough stones were distributed in division, an investor could possibly have it cut and increase its value several times. But if the stone did not survive the cutting process the value would be decreased or lost. The Committee is still collecting information on the best and fairest possible way of dealing with the emerald collection. |
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GOLD BARS:
We have
116 gold bars, bits, and disks from 1985. The Division Committee has worked
out an evaluation formula that has been accepted as equitable. This formula
takes the purity of the gold into consideration, along with factors such as
the presence of tax stamps, karat stamps, foundry marks, and listing on the
manifest. Our formula works to vary with the weight of the bar to avoid
unnecessary inflation of point value. SILVER BARS: We have cleaned almost three-quarters of the 950 large silver bars. A formula for setting points for the bars has been approved by the Division Committee. Many silver bars are being matched to the manifest, and the Committee is working on a method of documentation of this process which will accompany each bar, thus increasing its historical value. |
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SILVER COINS: The cleaning, grading, and making certificates for the silver coins in 1985 has been a major factor in delaying the date of division, but our new, sophisticated computer systems should enable us to achieve this in time for a division later this year. To date, we have cleaned over 60,000 coins and processed about half of them. Every day we come closer to our goal of 2,000 per day, and it begins to look like we’ll get the job done in time.
COPPER INGOTS: We have about 300 copper ingots from 1985. The Division Committee is still investigating marketing possibilities to increase their value above the current market price, so that the historical value is taken into consideration. |
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| ARTIFACTS: We have about 960 artifacts (plates, spoons, bowls, candlesticks, etc.) from 1985. About half have been ‘cleaned” (gone through the conservation process). Approximately 400 artifacts are in very poor shape and can’t survive the process of conservation. These will be stabilized as is. On the recommendation of the Division Committee, several experts in various fields have seen the collection and appraised it in academic rather than monetary terms. They have consistently underlined the importance. | |
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From The Archives Of
The Search For The Atocha |
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