Beneath the clear blue waters of an region known as the “treasure coast”, a group of underwater explorers representing a shipwreck salvage company has located a missing Spanish treasure valued at around $1 million dollars.
A Historic Find
Over 1,000 gold and silver coins believed to be minted in old Spain's colonies—in areas that are now Bolivia, Mexico, and Peru territories—were recovered this summer season off the Atlantic coast of Florida.
According to historical records, the wealth was being transported back to the Spanish empire when a hurricane sank the fleet's ships on 31 July 1715, sending the valuables into the ocean depths.
Features of the Recovered Currency
Dates and mint marks are still visible on some of the recovered pieces, offering important information for historians and numismatists looking to gain knowledge about the missing hoard.
“This find is not only about the treasure alone, but the narratives it tells,” stated a representative for the salvage company. “Every piece is a piece of history, a physical connection to the individuals who existed, labored, and voyaged during the peak era of the Spanish monarchy. Discovering 1,000 of them in a one salvage operation is unusual and remarkable.”
Legal Considerations
Under state of Florida law, any “treasure trove” or additional historic artifacts deemed “unclaimed” on state-owned property or in state waters belong to the government, although salvage teams can be granted authorization to perform “recovery services”.
Regulations require that roughly 20% of the recovered artifacts be kept by the state for research collections or public display.
