Imagine owning a rare gold-encased coin which has lain at the bottom of the ocean for years.

It can happen, especially now that such pieces can be purchased at Astwood Dickinson Jewellers.

Some of the artefacts which were recovered from the Spanish shipwreck Nuestra Senora De Atocha in 1985 can now be seen in a new light after jewellery designer and fabricator Mr. Jim Grahl, owner of J. Grahl Design on Balboa Island in California, has worked wonders in creating a new and beautiful piece of jewellery which in itself boasts an incredible history.

Mr. Grahl, who owns about 100 of the coins which were aboard the ship which sunk in a raging storm off Florida in September 1622 said he wanted to do something different with the coins. "I have an appreciation for cultures, and most of coins are from the 16th century Mayan, Olmac, and Toltec cultures.

These cultures held precious medals as religious objects and the shields that are on each coin are the only way to date them. For every year there was a different shield.

"Doing the jewellery work for the coins enabled me to turn it back to art.'' Mr. Grahl added that the way in which he designed each particular piece starts with the coin's shape, colouring and texture.

"If the coin is clear and in good shape then the design is simple, if the coin is more eroded and has less distinct markings then the design will be busier.'' Now that Mr. Grahl has completed this project, which he said began with a client who wanted a different view on marketing artefacts, the jewellery will be on sale at Astwood Dickinson until Christmas Eve.

The 110-foot Atocha was heavily laden with treasure when it went down after striking a reef. More than 260 people lost their lives.

All attempts to locate the shipwreck failed until the location of the primary cultural deposit was made by Treasure Salvors, Inc., on July 20, 1985.

Also on display for sale are the exquisite Tahitian cultured pearls in settings of gold and platinum.