The “Faithful Steward” Legend
After heavy easterly storms many coins have been found — and are still being found — along the Delaware Coast near the Indian River Coast Guard Station. These coins are mostly Irish halfpence coppers of the period 1780-1783, although a few gold and silver coins have been found.
It is supposed that the coins came from the strongbox of a vessel wrecked off the coast, and some believe the vessel to be the “Faithful Steward” which foundered in 1785 while bound for Philadelphia. Her cargo consisted of barrels of English and Irish half-pence copper coins dated from 1740 to 1783. Local residents forgot about the vessel until 1930 when the Indian River Inlet was dredged. This changed the offshore currents and coins began washing up on the beach. Literally hundreds have been found since.
Recent information says that the “Faithful Steward” went down at about 38 degrees, 44 minutes and 40 seconds Latitude. It now lies at about 38 degrees, 39 minutes, and 30 seconds Latitude. The depth at the original sinking was 19 feet at low tide. At the present location it would be about 50 feet deep.