Treasure on the Ocean Floor
The gold was hidden in the wreckage of a Spanish fleet that went down in a storm when it was just off the Florida coast. This happened in 1715 – around three centuries ago, and the gold has been there ever since. Even though it was found by Eric Schmitt, the rights to the site are owned by a salvage company. In this footage, we see the divers find some gold coins in the silt on the ocean floor and in total 51 were found. They seem to be in remarkably good condition! However, this haul comprised a lot more than coins. There was also 40 feet of gold chain and one extremely rare coin that is called the “Tricentennial Royal”. It was minted for King Philip V of Spain and it is thought that this coin alone is $500,000 because it was in such great condition.
More About the Spanish Treasure
Apparently, the “Tricentennial Royal” coins were not destined for general circulation, they are referred to as presentation pieces. There are only around six known examples of them in the world. The gold was found during an annual family treasure-hunting trip. The Schmitt family also included Eric’s wife, sister and parents. It was found in the water off Fort Pierce, just north of Port St. Lucie. This is where 11 or 12 Spanish ships sank in a hurricane as they travelled from Havana, Cuba. They were carrying an estimated 3.5 million pesos in gold and jewels which would amount to around $400 million today – only $175 million has been found so far. Some of this belonged to the Queen of Spain. Local and federal laws require up to 20 percent of the haul to be released to the state so that it can be displayed in museums. The remainder is split between the Schmitt family and the salvage company. However, we should not forget that this was also a human tragedy and more than 1,000 crew members were killed when the ships sank.
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