1842-O Half Eagle SSNY - 1842-O $5 SSNY, SS New York, NGC AU Shipwreck Effect. The shipwreck effect of this rare, Southern branch mint 1842-O half eagle confirms its provenance. The coin has an above average strike with full details on the centers of the stars. Aside from some small scratches between Stars 1 and 3, the surfaces are clean for the grade. Even, light wear is present on the high points of the coin, as expected for an AU piece.

Christian Gobrecht designed the Liberty Head half eagle. The design shows a left facing profile of Liberty wearing a LIBERTY inscribed coronet. Her hair is tied in the back and there are two loose curls that hang down her neck. Around the head are thirteen six-pointed stars, and the date is below the truncation. At the periphery of the coin are dentils. The coin also has a reeded edge. The reverse shows a heraldic eagle similar to the one on the Classic Head half eagle except that the eagle is smaller and its neck is not bent so aggressively. The inscription UNITED STATES OF AMERICA surrounds the eagle, except for its wing tips, in an arc. The denomination is below, separated with dots, and written as FIVE D.

The SS New York was a luxurious 160 foot side-wheel steamship with a wooden hull that was built in New York City in 1837. During most of its career it traveled between New Orleans and Galveston, Texas. It transported merchandise, provisions, and passengers. Now and then it carried troops to south Texas in support of the war against Mexico.

On September 5, 1846, while on route from Galveston, the ship found itself in the middle of a huge hurricane. After battling the high winds and giant waves, the ship sank. Of the 53 passengers, only 36 survived. In addition to the 17 people lost at sea were thirty to forty thousand dollars in United States gold and silver coins.

In 1990 a Louisiana oil field worker and an amateur diver found the wreckage. They used the oil workers electronic fish finder and information from shrimpers in the area. There was a snag at the bottom of the ocean that was dangerous to dragging nets. It was the remains of the SS New York. At first few coins were found near the wreck. The site was again searched in 1997 and 1998 but to no avail. It was in the summer of 2005 the group knew it was close to finally finding all that was left in the wreckage. However, salvage plans were on hold for a year when Hurricanes Katrina and Rita hit Louisiana's coast in August and September 2005. Later, in 2006, the sight was explored again and the coins were found.

While still out in the Gulf, the group of explorers took steps to form a limited liability company, Gentlemen of Fortune, for the purpose of securing legal rights to the treasure claim.

The 1842-O half eagle is a very rare issue. Less than 100 coins are known in all conditions. Coins recovered from the SS New York were conserved by Numismatic Conservation Services (NCS) and then certified by NGC. However, their population report does not distinguish coins with the shipwreck provenance. In total 20 coins have been certified in all AU grades by NGC with only 2 in Uncirculated grades.