She was lost on either September or November 18 or 20th in 1871 due to a collision with the bark Newsboy in a thick fog. The E.B. Allen is a wooden schooner sitting upright on her keel. There is a visible gash in the hull on the port side where the collision took place. The Hull, railing, flooring, windlass anchor chains and rudder are still in place. When originally found in the early 1970's she was mistakenly identified as the Corsican.