Lost Treasure: Divers Recover $1 Million in Coins

The treasure is worth about $1 million

                                             

Lost Treasure.. Divers Recover $1 Million in Coins

Under the turquoise waters off a stretch of Florida coastline known as the "Treasure Coast," a team of divers from a shipwreck recovery company has found what lives up to the name: a centuries-old Spanish treasure valued at about $1 million.

1715 Fleet – Queens Jewels LLC announced this week that it had discovered more than 1,000 gold and silver coins believed to have been minted in Spain's ancient colonies in Bolivia, Mexico, and Peru during a summer dive off Florida's Atlantic coast.

Each Coin Holds a Story

"This discovery is not just about the treasure itself, but the stories it holds," said Sal Guttuso, the company's director of operations, in a press release. "Each coin is a piece of history, connecting us directly to the people who lived and sailed during the golden age of the Spanish Empire. Finding 1,000 coins at once is rare and exceptional."

According to Florida law, any treasures or historical artifacts "abandoned" on state land or waters are considered state property, although licensed companies are permitted to carry out recovery operations. The law requires excavators to turn over approximately 20 percent of recovered archaeological materials to the state for research or public display in museums.