So, I hadn't been on in a long time and recently returned. I did search the threads, but the last one I found about it was from 2013. 

So, coral. I have two in my inventory (from when I first signed up a loooong time ago, probably). Does coral do anything now or is it still useless?

As far as I know, its useless.  I have never seen it used since I got her a couple months of go.

Strange. I was about to post this.... I have 28 of them doing nothing. Angel wrote this about it: 

Coral and Laminaria are materials which are planned for constructing buildings that are not in the game yet. They are not in the drop now but we noticed that they are still on the tutorial maps only a couple of days ago. It will be a resource of the same rarity as hops or cotton, so you can save it for future or destroy to empty inventory space since it's not something special.

Not sure what it is for.... But thank you for posting. I am working on an item list with Pinkdragonwings and Aelisk and this question came up so I was doing some digging... That is all I have found so far.

Thank you, guys for posting. 

I guess I'll keep it around for now, heh. I do hope they come up with a use for it, as it's been quite a while.