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Actually, stainless steel, in the right grade, would make a dandy anchor for most rich people. Stainless relies on exposure to oxygen to form a thin protective oxide coating. It can get that oxygen from air or from oxygen dissolved in water. It doesn't like being starved for any significant period of time.

So your shiny anchor is on your bow, you drop it and bury it in mud for a few days, maybe rub some of the oxide off, but then the New York Yacht Club cruise moves on, so you pull it up and voila!, the oxide coating replenishes itself.

But it really should be 316L stainless, and that's really, really expensive, hence the dilemma. Most of the people with enough disposable money to buy a polished stainless anchor just to drag through rocks and mud, are too busy working to actually go use the thing a lot.

I see a lot of them, and have never been tempted, because you really need to buy the all-stainless chain to go with it, and that's just a little much. Plus, I'm not a member of the NYYC.
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