St Petersburg, FL, Feb. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Endurance Exploration Group (OTC: EXPL) and expedition partner, Blue Water Ventures International (OTCPK: BWVI), are pleased to announce that they have sold a portion of the rare coins recovered from the SB Pulaski wreck site during the 2018 dive season. The joint venture partners have retained certain coins, as well as unique and valuable artifacts for monetization at a later date, and will provide the opportunity for display, academic study, and public viewing.
The proceeds from the sale of these coins was sufficient to recoup the costs of salvage efforts in 2018 and will provide sufficient working capital for the upcoming 2019 salvage season. The coin sales will allow the expedition partners to continue excavating the 1838 SB Pulaski wreck site, which is estimated to still contain 98% of its coins, precious metals, and additional valuable artifacts. The JV Partners estimate that they have only recovered approximately 2% of the valuable cargo from the shipwreck and are eager to commence the 2019 dive season and continue the potentially lucrative salvage effort.
Further, the proceeds from the coin sales will provide additional working capital to commence salvage operations on additional wreck sites, such as the recently arrested 1840 loss of steamship, ‘North Carolina’, which was once owned by the Vanderbilt shipping line.
Selected coins were sold to one of the world’s largest coin distribution companies, Asset Marketing Services (AMS) who is making selected coins available to their numismatic collecting clients. Collectors interested in acquiring coins from the Pulaksi shipwreck may contact AMS at Govmint.com.
AMS CEO, Bill Gale, commented, “At the time the SS Pulaski sailed, Americans carried both foreign and U.S. coins in their pockets and they made no distinction between the two in daily commerce. This changed in 1857, when foreign coins were no longer considered U.S. legal tender, but the Pulaski treasure offers a fascinating glimpse into how Americans viewed their money during our first 80 years as a country. Another thing that impressed me was the high quality of the U.S. coins recovered from the wreck. Even though the coins were lost at sea over 180 years ago, many of the recovered coins are in astonishingly good condition.”
Blue Water Ventures CEO, Keith Webb, commented, “To see these coins come to life after almost 200 years underwater, is a site to behold. We are thrilled that Asset Marketing Services will be able to share these special coins with the public.”
About Asset Marketing Services, Inc:
Since 1984 Asset Marketing Services (AMS) has provided collectors, history buffs and others with ancient coins that date back more than 2,000 years to the latest three-dimensional works of modern coin art and everything in between. Asset Marketing Services® / AMS® is a private distributor of coin and currency issues and privately licensed collectibles, and is not affiliated with the U.S. government. ModernCoinMart®, MCM® and GovMint.com® are brands of AMS
About Endurance Exploration Group, Inc.:
Endurance Exploration Group, Inc. specializes in historic shipwreck research, subsea search, survey and recovery of lost ship containing valuable cargoes. Over the last 5 years, Endurance has developed a research database of over 1,400 ships that are known to be lost with valuable cargoes in the world oceans. For more information go to http://www.expl.com.
About Blue Water Ventures International, Inc.:
The Company is engaged in the business of conducting archaeologically-sensitive recoveries of cargo and artifacts from shipwrecks. Its operations to date have focused on shallow water search and recovery projects in less than 150 feet of water. The Company is now expanding its focus to include deep-water salvage of historic and modern-day shipwrecks. For more information go to http://www.bwvint.com
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to certain risks and uncertainties including, but not limited to: ability to further strengthen our balance sheet, ability to raise funding for continued operations, ability to successfully and profitably locate additional wrecks and cargo, ability to establish ownership, and other factors. Therefore, actual results may differ materially from those indicated or implied by such forward-looking statements. Except as required by law, the Company disclaims any obligation to publicly update such statements.