A team of divers from the salvage company 1715 Fleet – Queens Jewels LLC recently uncovered a haul of long-lost Spanish treasure estimated to be worth $1 million. The discovery was made this past summer off Florida’s Atlantic coast, an area famously dubbed the “Treasure Coast.” The find consists of over 1,000 silver and gold coins, believed to have been minted in the Spanish colonies of Bolivia, Mexico, and Peru. According to Sal Guttuso, director of operations for the salvage company, recovering such a large number of coins in a single effort is considered rare and extraordinary.
Historical Context
The coins originate from a fleet of Spanish ships that sank centuries ago while transporting gold, silver, and jewels from the New World back to Spain. According to the 1715 Fleet Society, a devastating hurricane wrecked the flotilla on July 31, 1715, scattering the valuable cargo into the sea. This coastal area, stretching from Melbourne to Fort Pierce, has yielded millions of dollars in gold coins over the years, sustaining a long history of salvage operations.
Salvage Operations and Theft Incident
The recovery efforts are carried out by dive crews employing a fleet of boats and specialized equipment, including underwater metal detectors, hand-fanning, and sand suction to comb the sea floor. The team responsible for the recent find included diver Levin Shavers. The article also notes a past incident where Florida officials recovered dozens of gold coins stolen from the wreck site by a family member of a subcontractor hired by 1715 Fleet – Queens Jewels LLC.
Legal Ownership and Distribution of Finds
Under Florida law, all “treasure trove” or historic artifacts deemed “abandoned” in state waters or on state-owned land legally belong to the state. Salvage companies can be permitted to carry out recovery services, but the law requires the state to retain up to 20% of the recovered archaeological materials for public display or research collections. The salvage company’s director, Sal Guttuso, stated that his team meticulously inventories all collected artifacts for state review. The remaining artifacts, after the state’s selection, are split equally between the salvage company’s owners and its subcontractors. The ultimate goal, as Guttuso explains, is to ensure the process is handled properly, with the treasures benefiting the people of Florida by ending up in museums.
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Source: CNN
