NGC Shipwreck “Genuine” vs “Shipwreck Effect” via /r/numismatics

NGC Shipwreck “Genuine” vs “Shipwreck Effect”

Can anyone tell me the difference between the two designations? When I look at NGC's webpage on shipwrecks, I see the description of the "Shipwreck Effect" but it does not show any description for "Genuine".

As far as I can gather, "Shipwreck Effect" means that the coin has damage done to it that appears to be from years of being in salt water, like a coin found in a shipwreck lull have. Whereas "Genuine" means that NGC was provided proper photographs and/or documentation to validate and certify that the coin was in fact recovered from that specific shipwreck. But I am speculating a bit there.

If I am correct about that, then when a coin is NGC slabbed with the shipwreck designation, but it is labeled "Shipwreck Effect" but not labeled "Genuine" is that certifying that the coin was indeed found in that shipwreck or not?

Submitted March 20, 2016 at 03:47PM by buylowstackhigh
via reddit


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