The site of the Foam has not been located and therefore its archaeological significance cannot be assessed. It is representative of a typical vessel trading around the south-eastern coast of Australia, and has some historical significance for its role in the Tasmanian, and Lorne coastal trades. In particular it was associated with two well known families, the Taylors and the Andersons, who played important roles in the development of their northern Tasmanian and the Lorne communities respectively.