Historic, Recovered Andrea Doria Money Offered For 50th Anniversary of Shipwreck

news-antique.com 
Monday, July 24, 2006

Dana Point, California) -- More than 3,600 pieces of historic U.S. and Italian paper money recovered from a safe onboard the submerged Italian ocean liner, Andrea Doria, are being offered for sale to the public by Rare Coin Wholesalers (www.rcw1.com) of Dana Point, California. 

During a voyage from Genoa, Italy to New York City, the Andrea Doria and another liner, Stockholm, collided in heavy fog off the coast of Nantucket, Massachusetts on the night of July 25, 1956. 

A total of 52 passengers and crewmembers were killed, and more than 1,600 people were safely rescued before the 700-foot long, 30,000-ton Andrea Doria sank the next morning, July 26, 1956.

"This is the 50th anniversary of the sinking of the famous ship in the North Atlantic.   These remarkable pieces of paper money are gifts from the sea, appreciated by bank note enthusiasts as well as collectors of nautical history," said Steven L. Contursi, President of Rare Coin Wholesalers. 

"The Andrea Doria saga is a phenomenal story of a tragic nautical accident and a dramatic, incredible rescue of passengers and crew.    Each piece of the recovered paper money is history you can hold in your hands."

The recovered notes have been certified by PCGS Currency of Newport Beach, California, an independent paper money authentication and grading service.   The Andrea Doria notes have been graded with designations of A, B or C, depending on the note's state of preservation.

An "A" note is at least 90 percent or more intact; "B" notes are approximately 75 to 90 percent intact; and notes graded, "C," are less than 75 percent intact.   Prices for the recovered Silver Certificates range from $595 for a "C" grade to $2,495 for a star note in "A" condition. 

"Star notes have a star in front of the serial number indicating the original note with that number was replaced by the Treasury Department, perhaps because of a printing error," Contursi explained.

The Bank of Italy (Banca d'Italia) 1,000 Lire denomination notes are priced at $695.

On August 27, 1981, during Hurricane Dennis, marine explorer and department store heir, Peter Gimbel, and his team recovered the Banco di Roma (Bank of Rome) safe that had been submerged in the shipwreck 250 feet under the Atlantic Ocean for 25 years.   When the safe finally was opened during a live television broadcast three years later on August 3, 1984, the sunken treasure contents were revealed: stacks of U.S. $1 Silver Certificates and Italian bank notes in 50, 100 and 1,000 Lire denominations encased in mud. 

Gimbel and his wife, actress Elga Andersen, preserved and sold some of the notes in specially-made Lucite holders.

Rare Coin Wholesalers subsequently acquired the remaining 3,606 notes and submitted them to PCGS Currency for certification.

For information about the availability of the recovered Andrea Doria bank notes, contact Rare Coin Wholesalers, P.O. Box 3873, Dana Point, CA 92629. Phone: (800) 347-3250. E-mail: E-mail: RCWCoins@rcw1.com. Web: www.rcw1.com.