$1 Million In Gold & Silver Coins Discovered From Shipwreck Along Florida’s Treasure Coast

Divers from a shipwreck salvage company have found a Spanish treasure worth atleast $ 1 million off Florida’s Treasure Coast.

It includes over 1,000 silver and gold coins minted in the Spanish colonies of Bolivia, Peru, and Mexico.

According to the 1715 Fleet Society, hundreds of years ago, Spanish ships laden with jewels and precious items from the ‘New World’ were sailing to Spain when they were hit by a hurricane on July 31, 1715, spilling the treasure into the waters.

Sal Guttuso, director of operations for the salvage company, said that the discovery is not only about the treasure but the stories they unravel.

He added that each coin is a piece of history and a tangible link to the people who lived and worked during the Golden Age of the Spanish Empire.

His team used divers, boats and underwater metal-detection devices along with hand-fanning of sand or sand suction.

In 2024, officials revealed that dozens of gold coins were stolen by salvagers from the wreck site. The suspect was found to be a family member of the team contracted by 1715-Queen Jewels LLC to work on the site.

Under Florida Law, any treasure trove or other historic artefacts which are abandoned on state-owned lands or in state waters belong to the state, though excavators can carry out ‘recovery services’.

Per law, 20% of the recovered material would be retained by the government for keeping in museums and for research purposes.

Guttuso also said that his team keeps a detailed inventory of all the artefacts recovered each season to be reviewed by the state, and the officials select a few of the items to be displayed.

Remaining artefacts are split among the salvage company’s owners and subcontractors.

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