Full Breakdown
Recovery of $1 Million Treasure from 1715 Spanish Shipwreck
10/3/2025, 9:23:00 AM
Discovery of Historic Coins
A recent salvage operation off Florida's "Treasure Coast" has uncovered over 1,000 gold and silver coins valued at approximately $1 million. This treasure is linked to the 1715 Spanish Treasure Fleet, which sank during a hurricane on July 31, 1715, while transporting riches from the New World back to Spain. The recovery was conducted by the shipwreck salvage company 1715 Fleet – Queens Jewels, LLC, led by Captain Levin Shavers and his crew aboard the M/V Just Right.
Details of the Find
The recovered artifacts include more than 1,000 silver coins known as Reales and five gold coins called Escudos, minted in the Spanish colonies of Mexico, Peru, and Bolivia. The coins were found preserved beneath layers of sand and sea, suggesting they may have originated from a single chest that spilled during the shipwreck. Sal Guttuso, the director of operations for Queens Jewels, emphasized the significance of the discovery, stating, “Each coin is a piece of history, a tangible link to the people who lived, worked, and sailed during the Golden Age of the Spanish Empire. Finding 1,000 of them in a single recovery is both rare and extraordinary.”
Historical Context
The 1715 Treasure Fleet consisted of 11 galleons that were lost in one of the greatest maritime tragedies of the Americas. The fleet was carrying an estimated $400 million worth of gold, silver, and jewels when it sank. Over the years, numerous salvage operations have taken place along Florida's Treasure Coast, which stretches from Cape Canaveral to the St. Lucie River, yielding significant historical artifacts.
Legal Framework and Future Plans
Under Florida law, any treasure trove or historic artifacts found in state waters belong to the state, although salvage companies can recover these items under specific conditions. Approximately 20% of the recovered materials must be retained by the state for research or public display. The coins from this latest recovery will undergo conservation before being exhibited in local museums, allowing future generations to appreciate their historical significance.
Criticism and Concerns
While the recovery of these artifacts is celebrated, there have been concerns regarding the legality of past salvage operations. In previous years, Florida officials reported the recovery of stolen gold coins linked to a family member of a salvage team member. This incident raises questions about oversight and the ethical implications of treasure hunting in historically significant sites.
Verbatim Quotes
- “This discovery is not only about the treasure itself, but the stories it tells,” — Sal Guttuso, Director of Operations, 1715 Fleet – Queens Jewels, LLC
- “The best way I can describe it is if you lose something you really, really like and you’ve almost come to terms with it just never being found again, and then, all of a sudden, it shows up.” — Captain Levin Shavers, M/V Just Right
The recent find not only contributes to the historical narrative of the Spanish Empire but also highlights the ongoing fascination with maritime archaeology and the treasures hidden beneath the sea.
