Salvage Divers Unearth Over $1 Million in Gold and Silver Currency Off the Florida Coast
Under the clear blue ocean of an area referred to as the “coast of treasures”, a group of underwater explorers representing a shipwreck salvage company has uncovered a long-lost Spanish treasure valued at around $1 million dollars.
A Historic Find
More than 1,000 silver and gold coins thought to be produced in old Spain's colonies—in areas that are now Bolivian, Mexico, and Peruvian territories—were recovered this summer season off the eastern shore of the state of Florida.
According to historical records, the wealth was being transported back to Spain when a powerful storm sank the fleet's ships on 31 July 1715, sending the valuables into the ocean depths.
Details of the Recovered Currency
Dates and mint marks are still visible on a number of the coins, providing valuable insight for historians and collectors hoping to learn more about the lost treasure.
“This discovery is not only about the riches alone, but the stories it reveals,” said a spokesperson for the salvage company. “Every piece is a historical artifact, a tangible link to the individuals who existed, labored, and voyaged during the golden age of the Spanish empire. Finding 1,000 of them in a one salvage operation is unusual and remarkable.”
Regulatory Aspects
According to Florida legislation, any “treasure trove” or additional historical objects considered “abandoned” on state-owned property or in state waters belong to the state, although excavators can be granted authorization to conduct “recovery services”.
Regulations require that roughly 20% of the recovered archaeological materials be kept by the government for academic study or exhibition in museums.
