The Wreck Today: Located on a weed covered rock bottom, there is not much left at this shallow water site other than the anchor chain and some timbers.  This wreck is occasionally done as a shore dive.  However, the properties adjacent to the wreck site are privately owned and permission is needed to cross the property and enter the water.
Watch for heavy boat traffic, including the ferryboat dock to the west and marina entrance east.
Exchange
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Additional information on the Exchange is on page 73 of Erie Wrecks West.
Location: 200 feet south of Kelleys Island
Coordinates: LORAN:  43672.2   56974.0  GPS: 41 35.643    82 43.231
Official #: 7315
Lies: scattered                                  Depth: 15   feet
Type: schooner                                Cargo: stone
Power: sail
Owner(s) James Lawler of Sandusky
Built: 1857 at Vermilion, Ohio by I. W. Nicholas
Dimensions: 138’  x  26’  x  11’8”       Tonnage: 292.04
Date of Loss: Saturday, November 21, 1874
Cause of Loss: grounded