The Paul Jones has historical and technical significance as an American built medium clipper built for the China trade. It can be usefully compared with the W.B. Godfrey , a British built composite (iron and wood) clipper built for the same trade and wrecked in the same study area. Both wrecks reflect the shipbuilding technology and experimentation occurring in Britain and the United States with respect to fast sailing ships, and the need to find alternative trades when the lucrative tea trade became dominated by more reliable steamships. Although the site has not yet been located, it is predicted to have archaeological significance for the material remains on the wreck that were unsalvaged at the time.