SS Republic

The SS Republic was an American side-wheel steamer lost in a hurricane off Savannah, Georgia in October 1865 while carrying coin to New Orleans for the post-Civil War reconstruction economy. Odyssey Marine Exploration located her in 2003 in roughly 1,700 feet of water and recovered tens of thousands of US gold and silver coins — a documented, archaeologically recorded recovery, which is exactly why buyers should read the coin and not the box. Common-date silver from this wreck is genuinely inexpensive: a nicely packaged half in a presentation case is often a $75 coin behind a $300 ask.

What was the SS Republic carrying?

United States coin — gold double eagles and silver half dollars prominent among it — shipped south in the autumn of 1865 to supply a New Orleans economy rebuilding after the Civil War. This is not Spanish colonial material; it is American federal coinage, and it is priced in a different market with published rarity data.

How was she lost and found?

She foundered in a hurricane off the Georgia coast in October 1865. In 2003 Odyssey Marine Exploration located the wreck at roughly 1,700 feet and conducted a documented, recorded recovery — one of the better-published deep-water coin salvages of the modern era.

What are SS Republic coins worth?

Judge them as US coins with a provenance premium, not as rarities. Common-date 1860s half dollars from this cargo exist in quantity, and their value follows the ordinary US market plus a modest wreck pedigree. Elaborate packaging is where buyers most often overpay: an E-letter half in a handsome box is frequently a $75 coin offered at $300.

Gold from the wreck behaves differently — date, mintmark and grade drive it, and premiums over type value can be real when the holder names the wreck.

Rule for this wreck: price the coin against the US market first, then decide what the pedigree is worth to you. Never price the presentation case.

How do you verify an SS Republic coin?

Frequently asked questions

Sources

American sidewheel steamer lost in a hurricane off Georgia in October 1865, carrying a reported $400,000 in gold and silver coin bound for post-Civil War New Orleans.

History

The SS Republic was a 210-foot wooden-hulled sidewheel steamer built in 1853 as the Tennessee and seized by the Confederacy in 1861, then captured by Union forces at New Orleans in 1862 and served as USS Tennessee and USS Mobile, before returning to commercial passenger and cargo service. On 18 October 1865, six months after the end of the war, she sailed from New York for New Orleans carrying passengers, hardware, and a specie shipment of an estimated $400,000 in gold and silver coin intended to help re-monetize the devastated Southern economy. Caught in a hurricane off the Georgia coast, she foundered and sank on 25 October 1865 in roughly 1,700 feet of water.

Recovery

Odyssey Marine Exploration located the wreck in 2003 roughly 100 miles southeast of Savannah using side-scan sonar and ROV survey. Between 2003 and 2005 they recovered more than 51,000 gold and silver coins — including thousands of $20 Liberty double eagles from multiple mints — along with thousands of shipboard artifacts. The recovery is one of the largest documented deep-water coin recoveries in U.S. history.

Timeline

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