1845 1c SS New York (1845 SS New York Large Cent) NGC SE Unc. This brown, shipwreck effect, uncirculated large cent has a full strike. The coin shows full details on the stars centers, the front of the coronet, and the leaves on the reverse. The coin is almost completely brown with hints of red showing on both sides. No wear is seen on the coin, as expected for a mint state grade. The coin is designated Shipwreck Effect A, which means, according to NGC, that it exhibits minimal surface disturbance from exposure to saltwater and has superior eye appeal for a shipwreck coin.

Christian Gobrecht designed the Liberty Head, Braided Hair large cent. He used the coronet motif for his design. It shows a profile of Liberty facing left. Her hair is tied in the back with beads as two curls flow down her neck. On the coronet the word LIBERTY is inscribed. She is surrounded by thirteen six-pointed stars and the date, which is below the truncation. At the periphery are dentils on both sides of the coin. The reverse shows the denomination, ONE CENT, written on two lines, enclosed in a wreath of laurel, which is tied at the bottom with a ribbon. The wreath is surrounded by the legend UNITED STATES OF AMERICA.

The S.S. 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 S.S. 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. Coins recovered were conserved by Numismatic Conservation Services (NCS) and then certified by NGC.