Ferromanganese crusts on raised areas of the ocean floor have joined abyssal manganese nodules and hydrothermal sulfides as potential marine resources. Significant volumes of cobalt-rich (about 1% Co) crusts have been identified to date within the US Exclusive Economic Zone (EEZ) in the Central Pacific: in the NW Hawaiian Ridge and Seamount region and in the seamounts in the Johnston Island and Palmyra Island regions. Large volumes of lower grade crusts, slabs, and nodules are also present in shallow ( greater than 1000 m) waters on the Blake plateau, off Florida-South Carolina in the Atlantic Ocean. Data on ferromanganese crusts have been increased by recent German and USGS cruises, but are still sparse, and other regions having crust potential are under current investigation. The authors discuss economic potentials for cobalt-rich crusts in the Central Pacific and Western North Atlantic oceans, with special reference to US EEZ areas. Additional research is needed before more quantitative resource estimates can be made.