RMS Titanic, Inc. - Specimen

RMS Titanic, Inc. - Specimen

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RMS Titanic, Inc. - Specimen
  • $99.95

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Beautifully engraved SPECIMEN certificate from the RMS Titanic, Inc. This historic document was printed by the Banknote Corporation of America and has an ornate border around it with an underprint of a ship. This item has the printed signatures of the Company’s President and Secretary. RMS Titanic, Inc. is the only company permitted by law to recover objects from the wreck of the Titanic. The Company was granted salvor-in-possession rights to the wreck of the Titanic by a United States Federal Court and is the sole exclusive owner of the valuable items recovered from the wreck site. The Company has conducted six research and recovery expeditions to the Titanic wreck site and recovered approximately 6000 artifacts, which represent less than 5% of the artifacts available for recovery. The Company continues to maintain its salvor-in-possession status by making periodic expeditions to the wreck site law and therefore shall be the sole and exclusive owner of items recovered from the Titanic in the future. RMS Titanic, Inc. is also engaged in the business of exhibiting the artifacts recovered from the Titanic wreck site. Titanic Company Postpones Shareholders' Meeting over Salvage Rights Feb. 1, 2003 --NORFOLK, Va. -- R.M.S. Titanic Inc. said it cannot meet with shareholders as scheduled on Wednesday because the Securities and Exchange Commission is still studying the company's latest proxy statement, according to filings with Norfolk's federal court and the SEC. Last year, the SEC notified R.M.S. Titanic's biggest stockholder, and perhaps other company leaders, that it is preparing civil charges against the company or its leaders. In its latest quarterly report, filed Jan. 22, the Atlanta-based company said it lost nearly $1.5 million during the past nine months and is consulting bankruptcy lawyers. The company began salvaging the Titanic in 1987, soon after the shipwreck's discovery. The company was awarded sole salvage rights by Norfolk's federal court in 1994. Norfolk judges have supervised the salvage work ever since. But since a hostile takeover in 1999, the company has faced economic and legal turmoil. It spent more than $550,000 on lawyers during the past year and expects greater legal expenses during the next six months, the report says. R.M.S. Titanic faces several expensive legal actions. First, a dissident stockholder is suing the company and its leaders, alleging fraud and self-dealing. That class-action lawsuit on behalf of all stockholders is pending in Norfolk's federal court. Second, a lawsuit is pending in Florida between the company and its former vice president, G. Michael Harris, who led the last salvage expedition in 2000 and was fired during the voyage. The trial is scheduled for April. Third, dissident stockholders are likely to sue the company to prevent it from relinquishing its salvage rights. That challenge probably would be filed in Norfolk. Finally, the company faces possible civil charges from the SEC, which has been investigating for two years. The investigation stems from the 1999 takeover by a group of entertainment industry executives. At the time of the takeover, company stock sold for about $3.50 a share. It recently closed Friday at 10 cents a share. Meanwhile, the fate of 6,000 artifacts recovered from the ocean floor around the Titanic remains uncertain. A Richmond appeals court ruled last year that R.M.S. Titanic does not own the artifacts but is merely their caretaker. The company now must apply for a salvage award -- compensation for salvage work -- from the Norfolk court. The amount of that award, where the money would come from and who would ultimately own the artifacts remain unknown About Specimens Specimen Certificates are actual certificates that have never been issued. They were usually kept by the printers in their permanent archives as their only example of a particular certificate. Sometimes you will see a hand stamp on the certificate that says "Do not remove from file". Specimens were also used to show prospective clients different types of certificate designs that were available. Specimen certificates are usually much scarcer than issued certificates. In fact, many times they are the only way to get a certificate for a particular company because the issued certificates were redeemed and destroyed. In a few instances, Specimen certificates we made for a company but were never used because a different design was chosen by the company. These certificates are normally stamped "Specimen" or they have small holes spelling the word specimen. Most of the time they don't have a serial number, or they have a serial number of 00000. This is an exciting sector of the hobby that grown in popularity and realized nice appreciation in value over the past several years.


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Item Details:

  • Reference #
  • rmstitanicinc1
  • Quantity
  • 1
  • Category
  • Coins & Currency
  • Department
  • Antiques
  • Year
  • See Description
  • Dimensions
  • Width: 0 inch
  • Height: 0 inch
  • Depth: 0 inch
  • Weight: 0 pound
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