Salvage Divers Discover Over $1 Million in Silver and Gold Coins Off the Florida's Coast
Beneath the turquoise ocean of an region known as the “coast of treasures”, a group of underwater explorers representing a marine recovery firm has located a long-lost Spanish fortune estimated to be worth around $1 million.
An Ancient Find
Over 1,000 silver and gold coins thought to be minted in former Spanish colonies—in areas that are now Bolivian, Mexico, and Peruvian lands—were recovered this summer season off the eastern shore of Florida.
According to historical records, the fortune was on its way back to Spain when a hurricane sank the vessels on July 31, 1715, sending the treasures into the sea.
Features of the Recovered Coins
Dates and mint marks are clearly legible on a number of the recovered pieces, providing valuable insight for researchers and numismatists hoping to learn more about the missing treasure.
“This find is not only about the riches alone, but the narratives it tells,” said a representative for the recovery team. “Every piece is a piece of history, a tangible link to the people who lived, worked, and sailed during the golden age of the Spanish monarchy. Discovering 1,000 of them in a single recovery is both rare and extraordinary.”
Regulatory Aspects
Under Florida law, any “treasure trove” or additional historical objects deemed “abandoned” on public property or in public waters belong to the government, though salvage teams can be issued authorization to perform “recovery services”.
The law require that roughly 20% of the recovered archaeological materials be kept by the state for academic study or public display.
