Salvage Crew Recovers $1M in Gold and Silver Coins from 1715 Spanish Shipwreck off Florida Coast

What's Happening?

A shipwreck salvage company, 1715 Fleet-Queens Jewels LLC, has announced the recovery of over 1,000 silver coins and five gold coins from a 1715 Spanish shipwreck off the coast of Florida. The coins, valued at approximately $1 million, were discovered by Captain Levin Shavers and his crew aboard the motor vessel 'Just Right' near the Treasure Coast. The shipwreck, part of the 1715 Treasure Fleet, was transporting New World riches back to Spain when it was struck by a hurricane on July 31, 1715. The fleet's loss is estimated at $400 million in gold, silver, and jewels. The salvage operation, based in Sebastian, Florida, holds exclusive rights to the shipwreck remains and collaborates with treasure hunters, museums, and underwater archaeologists.

Why It's Important?

The recovery of these coins not only represents a significant financial find but also offers a tangible link to the historical events of the Spanish Empire's Golden Age. The discovery highlights the ongoing interest and investment in maritime archaeology and the preservation of historical artifacts. The coins will undergo conservation before being displayed to the public, potentially boosting local tourism and educational opportunities. The operation underscores the importance of preserving historical treasures and the role of private companies in uncovering and conserving cultural heritage.

What's Next?

Following the recovery, 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, providing public access to these historical artifacts. The ongoing exploration and recovery efforts may lead to further discoveries, contributing to the understanding of maritime history and the economic impact of such finds.

Beyond the Headlines

The discovery raises questions about the ethical and legal dimensions of treasure hunting and the balance between private enterprise and public heritage. The involvement of federal admiralty law and state regulations highlights the complex legal framework governing underwater archaeology. The find also prompts discussions on the preservation of cultural heritage and the responsibilities of private companies in safeguarding historical artifacts.