EX1A-13 TST WTRS 17 rsecex13z22.htm TESTING THE WATERS MATERIALS RELATING TO SERIES #1857COIN Testing the Waters Materials Related to Series #36OWENS (06121253).DOCX

Testing the Waters Materials Related to Series #1857COIN

From the Rally App:

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The interactive Comparable Asset Value Chart (the “Chart”) plots historical sales of assets comparable to the Underlying Asset, showing price values on the vertical axis against time on the horizontal axis.  The prices reflected on the Chart are not adjusted for inflation.  Users of the Platform can opt to display varying ranges of time on the Chart’s horizontal axis, from one month to one year or longer to the extent such data are available.  If multiple comparable asset sales occurred on a single day, the Chart provides an average for that day.  By hovering over the points on the Chart, users can view price and date of sale represented by each point.  

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DESCRIPTION OF SERIES 1857-S $20 COIN

Investment Overview

 

·Upon completion of the Series #1857COIN Offering, Series #1857COIN will purchase a 1857-S $20 Coin Salvaged from the SS Central America graded PCGS MS66 for Series #1857COIN (The “Series 1857-S $20 Coin” or the “Underlying Asset” with respect to Series #1857COIN, as applicable), the specifications of which are set forth below. 

·According to JMBullion.com: “The 1857 Liberty Head $20 Gold Coins were struck in the sizable quantity of 1.4 million pieces across the three mints then striking $20 gold coins: Philadelphia, New Orleans, and San Francisco, with the latter striking the bulk of that year’s output. What this means is that for the 1857 Liberty Head $20 Gold Coins, there are three different varieties you can get your hands on.” 

·#1857COIN was on board the S.S. Central America when it sank on a journey toward Panama City. According to SSCentralAmerica.com: “When the United States Mail Steamship Central America sank in deep water off the coast of the Carolinas during a monstrous 1857 hurricane, it created just such an accidental accumulation of treasure. Bound for New York with 578 passengers and crew, and 38,000 pieces of mail, the Central America also held tons of gold ingots, coins, nuggets, and dust mined from the western gold fields during a defining quarter-century when the country came of age.” 

·The Underlying Asset is an 1857-S $20 Coin Salvaged from the SS Central America graded PCGS MS66. 

 

Asset Description

 

Overview & Authentication

 

·According to PCGS.com: “On August 20, 1857, several hundred passengers boarded the S. S. Sonora, of the Pacific Mail Steamship Line, and left San Francisco headed south toward Panama City. Aboard was over $1.6 million in gold – thousands of freshly minted 1857-S Double Eagles, some earlier $20 coins as well, ingots, and gold in other forms.” 

·The S.S. Central America commanded the S.S. Central America. According to History.Navy.Mil: “William Lewis Herndon was born in Fredericksburg, Virginia, 13 October 1813. He was appointed an Acting Midshipman from Virginia 1 November 1828, accepting the appointment 1 December 1828. Warranted a Midshipman 15 February 1834, from 1 November 1828. Passed Midshipman 14 June 1834. Lieutenant 25 February 1841. Commander 14 September 1855. Lost at sea 12 September 1857.” 

·The S.S. Central America was first launched on October 28, 1852. Operated by United States Mail Steamship Company it was originally named the S.S. George Law. According to SSCentralAmerica.com: “it was a three-masted, 272-feet long sidewheel steamship that made 43 round trips between New York City and Panama. Each leg of the voyage usually took between 19 to 24 days to complete.” 

·The S.S. Central America sank between September 11 and 12, 1857. According to SSCentralAmerica.com: “SS Central America Friday, September 11, 1857: In the second day of a hurricane the ship sprang a leak at 9 a.m. Passengers were ordered to assist the crew in bailing. The ship sank at about 8 p.m. on Saturday, September 12, about 160 miles east of Cape Hatteras, North Carolina, drowning a total of 426 passengers and crew, including Captain William Lewis Herndon.” 

·In 1985 Thomas G Thompson, an ocean engineer from Ohio, founded the Columbus-America Discovery Group to research and locate the S.S. Central America shipwreck. 171 investors raised more than $10M. 

·In 1986 the Columbus-America Discovery Group located the ship and it’s in tact cargo. They were awarded 92% of the recovered treasure, with the remaining 8% going to insurance companies. 

·The first public exhibition of the treasure from S.S. Central America took place at the Long Beach, California Convention Center on February 10, 2000. 

·According to the Professional Numismatists Guild: “the aggregate prices realized for U.S. rare coins sold at major public auctions in 2020 totaled nearly $369 million. The aggregate total was $325 million in 2019; $345 million in 2018; and $316 million in 2017.” 

·The Underlying Asset has been issued a grade of MS66 by Professional Coin Grading Services (PCGS) with Certification No. 37587566. 

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Notable Features

 

·The Underlying Asset is an 1857-S $20 Coin Salvaged from the SS Central America graded PCGS MS66.  

·The Underlying Asset is graded MS66, or “Above average strike.” This grade requires a mint state requires a full mint luster. 

·The Underlying Asset was aboard the S.S. Central America known as the “Ship of Gold”. 

·The Underlying Asset is a Liberty Head double eagle with an 1857-S mintmark. 

·The Underlying Asset was minted in San Francisco, U.S. and is made of 90% gold and 10% copper, weighing 33.4 grams. 

 

Notable Defects

 

·The Underlying Asset is consistent with its condition grade from PCGS. 

 

Details

 

Series 1857-S $20 Coin

Memorabilia Type

Coin

Date, Mintmark

1857-S

Denomination

$20

Designer

James Barton Longacre

Mintage

970,500

Minted Location

The United States of America (San Francisco)

Significance

Recovered from S.S. Central America, “Ship of Gold”

Obverse

Liberty Head, 13 Stars

Reverse

“UNITED STATES OF AMERICA TWENTY D.”; US Seal

Rarity

1/223 with 36 higher

Authentication

PCGS

Grade

MS66

Diameter

34 mm

Weight

33.4 gm

Metal

90% Gold, 10% Copper

PCGS No.

8922

Certification No.

37587566

 

Depreciation

 

The Company treats Memorabilia Assets as collectible and therefore will not depreciate or amortize the Series 1857-S $20 Coin going forward.

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