Beneath the clear blue ocean of an area referred to as the “coast of treasures”, a team of divers representing a shipwreck salvage company has located a long-lost Spain's treasure estimated to be worth around $1 million dollars.
A Historic Discovery
More than 1,000 silver and gold coins believed to be minted in old Spanish colonies—in areas that are now Bolivia, Mexico, and Peruvian territories—were recovered this summer season off the Atlantic coast of Florida.
As stated by historical records, the wealth was being transported back to the Spanish empire when a hurricane destroyed the vessels on 31 July 1715, sending the valuables into the ocean depths.
Features of the Recovered Coins
Minting dates and symbols are still visible on some of the recovered pieces, providing important information for researchers and numismatists looking to learn more about the lost hoard.
“This discovery is not only about the riches itself, but the narratives it tells,” said a representative for the recovery team. “Each coin is a piece of history, a physical connection to the individuals who existed, labored, and voyaged during the peak era of the Spanish empire. Discovering 1,000 of them in a one salvage operation is unusual and remarkable.”
Regulatory Considerations
Under state of Florida legislation, any “treasure trove” or other historic artifacts considered “abandoned” on public property or in public waters are the property of the government, although salvage teams can be issued permits to perform “recovery services”.
Regulations require that roughly 20% of the recovered archaeological materials be kept by the government for academic study or public display.
