What's Happening?
A team of excavators from the shipwreck salvage company 1715 Fleet – Queens Jewels LLC has uncovered over 1,000 silver and gold coins along Florida's 'Treasure Coast.' These coins, believed to be minted in the Spanish colonies of Bolivia, Mexico, and Peru, are estimated to be worth $1 million. The discovery is part of a long-standing tradition of treasure hunting in the area, where a Spanish fleet sank in 1715 due to a hurricane. The coins will be split between the salvage company, its subcontractors, and the state of Florida, as per state law.
Why It's Important?
This discovery highlights the ongoing allure and economic potential of treasure hunting along Florida's coast. The find not only adds to the historical understanding of the 1715 Spanish fleet but also supports a niche industry of professional treasure hunters in the region. The economic impact is significant, as the coins' value contributes to both private collections and public displays, enhancing cultural heritage tourism. The state's involvement ensures that a portion of the artifacts is preserved for educational and research purposes.
What's Next?
The coins will undergo a detailed conservation process, including cleaning and documentation, before being assessed for their historical and monetary value. State officials will review the inventory to decide which artifacts to retain for public display. The salvage company will continue its operations under the exclusive rights granted by a federal court, potentially leading to more discoveries in the future.
