Treasure Coast divers recover $1 million in Spanish coins

A salvage team has recovered over 1,000 gold and silver coins, believed to be transported by a Spanish fleet, off Florida’s Atlantic coast. The discovery, announced by 1715 Fleet – Queens Jewels, LLC, is valued at about $1 million. Initial analysis indicates that the coins were minted in Bolivia, Mexico and Peru, former Spanish colonies in the 18th century. Some bear dates and mint marks, which appeal to historians and collectors, according to CNN.

This find is the latest in a long history of treasure recoveries between Melbourne and Fort Pierce, where a hurricane sank ships carrying valuables on July 31, 1715. The company stated that its divers employed standard search methods and obtained the necessary federal permits to recover the coins.

Florida law designates abandoned historic materials on state lands and in state waters as state property. Through a permitting process, officials typically retain about 20% of the artifacts for research or display, with selections negotiated and approved by a federal court. The company and its subcontractors receive the remaining items, ensuring the state’s stewardship of its historical legacy.