USA. Franklin Mint interested in acquiring Black Swan coins

Monday, 21 May 2007

The Franklin Mint, which recently offered treasure from the El Cazador shipwreck in one of the most successful sales of authentic coins in history, today announced its interest in pursuing discussions with Odyssey Marine Exploration (AMEX:OMR) to acquire all or part of the immense treasure trove of silver and gold coins recently discovered along with the “Black Swan” shipwreck.

The Franklin Mint is no stranger to multi-million dollar “buried treasure” finds. This March, the company announced that it had acquired hundreds of thousands of coins from the famous El Cazador, “the shipwreck that changed the world” by sparking a series of events that led to the Louisiana Purchase and the doubling in size of the United States over 200 years ago. This was the most historically impactful find of its kind in U.S. history.

“Coins recovered from shipwrecks are truly one-of-a-kind pieces of treasure, and The Franklin Mint has a long history of enhancing and securing the potential value of historic finds such as El Cazador,” commented M. Moshe Malamud, chairman of The Franklin Mint and a life-long collector. “To many consumers, being able to own an authentic piece of American history and pass it on from generation to generation is priceless. We congratulate Odyssey on this extraordinary discovery, and it is our intent to discuss ways in which we can work with Odyssey to maximize its great potential value.”

Recovered, restored and then authenticated by the Numismatic Guaranty Corporation, the El Cazador silver Reale coins – the immediate predecessor to the U.S. Dollar – were made available to the public for the first time in April. The Franklin Mint kicked off its offering of El Cazador treasure with a multimillion-dollar sales event on QVC, and the ship’s artifacts hold an estimated value of over $100,000,000.

Last Updated ( Monday, 21 May 2007 )