Salvage Company Finds $1M in Spanish Coins from 1715 Shipwreck off Florida Coast

What's Happening?

A shipwreck salvage company, 1715 Fleet – Queens Jewels LLC, has discovered over 1,000 silver and gold coins off the coast of Florida, estimated to be worth $1 million. These coins, believed to have been minted in the Spanish colonies of Bolivia, Mexico, and Peru, were part of a convoy of Spanish ships that sank during a hurricane in 1715. The coins were found along Florida's 'Treasure Coast,' a region known for yielding millions of dollars in treasure over the years. The salvage operation is conducted under state law, which mandates that up to 20% of recovered artifacts be retained by the state for research or public display, while the remaining 80% is divided among the salvagers.

Why It's Important?

The discovery of these coins highlights the ongoing interest and economic potential of treasure hunting along Florida's coast. It supports a local industry of professional treasure hunters and contributes to the state's cultural heritage and tourism. The operation is regulated by Florida law, ensuring that significant artifacts are preserved for public benefit. This find not only adds to the historical narrative of the 1715 Fleet but also underscores the importance of responsible archaeological practices in preserving underwater cultural resources.

What's Next?

The coins will undergo a detailed conservation process, including reverse electrolysis to remove encrustations, followed by documentation using high-resolution photography. State officials will review the inventory to decide which artifacts to retain for public display. The salvage company will continue its operations, potentially uncovering more treasures in future seasons. The discovery may also encourage more regulated exploration of Florida's underwater archaeological sites.

Beyond the Headlines

The legal framework governing treasure hunting in Florida ensures that the state's cultural heritage is protected while allowing private entities to benefit from their finds. This balance between preservation and profit is crucial in maintaining ethical standards in archaeology. The story also reflects the broader cultural fascination with treasure hunting and its impact on local economies.