Salvage Crew Recovers $1 Million in Gold and Silver Coins from 1715 Spanish Shipwreck

What's Happening?

A salvage crew led by Captain Levin Shavers has recovered over 1,000 silver coins and five gold coins from a 1715 Spanish shipwreck off the Florida Treasure Coast. The coins, known as 'reales' and 'escudos,' are valued at approximately $1 million. The discovery is part of the 1715 Fleet-Queens Jewels LLC's ongoing efforts to salvage treasures from the fleet that was lost during a hurricane on July 31, 1715. The company holds exclusive rights to the shipwreck remains and collaborates with treasure hunters and archaeologists. The coins will undergo conservation before being displayed to the public.

Why It's Important?

The recovery of these coins is significant as it provides a tangible link to the history of the Spanish Empire during its Golden Age. The find not only adds to the historical narrative but also has economic implications for the salvage company and the local museums that will display the artifacts. The operation highlights the ongoing interest and investment in maritime archaeology and the potential for further discoveries that could contribute to historical knowledge and tourism in the region.

What's Next?

The coins will be cleaned and conserved before being cataloged and assessed by the U.S. District Court of Florida. The state will retain 20% of the treasure, with the remaining 80% divided among the salvage crews. Plans are underway to exhibit select pieces at local museums, which could enhance cultural tourism and educational opportunities in the area.

Beyond the Headlines

The discovery raises questions about the ethical and legal dimensions of treasure hunting, including the rights of salvage companies versus state ownership of underwater artifacts. It also underscores the importance of preserving historical artifacts for educational purposes and the role of private companies in contributing to public historical knowledge.