Recent underwater explorations have borne fruit, with treasure hunters recovering a staggering $1 million worth of Spanish gold and silver from the depths off Florida’s Treasure Coast.
The company at the helm of this maritime expedition—1715 Fleet Queens Jewels, LLC—proudly unveiled their remarkable find in a September 30 news release.
Sal Guttuso, the director of operations, remarked, “This discovery extends beyond the mere value of the treasure; it is a narrative of history. Each coin represents a link to the lives, aspirations, and endeavors of those sailing during the illustrious Golden Age of the Spanish Empire. Recovering 1,000 coins in a single scoop is incredibly rare and extraordinary.”
The salvage operation, which commenced in the summer, culminated in the recovery of 1,000 silver coins known as Reales, alongside five shimmering gold Escudos.
Treasure hunters uncovered Spanish coins worth a million dollars off the coast of Florida after spending years searching for a wreck sunk by a hurricane in 1715. pic.twitter.com/KBM8Uul2E8
— DW News (@dwnews) October 4, 2025
However, this recent haul is merely a fraction of the treasure still lying in wait. It’s estimated that approximately $400 million in riches remains unrecovered from the ill-fated Spanish fleet, lost during a devastating storm in the early 1700s.
On July 31, 1715, a fleet returning to Spain met its doom as a hurricane wreaked havoc along Florida’s coast.
In the chaos, ships laden with gold, silver, and precious jewels from New World colonies were torn apart, scattering their cargo across the ocean floor.
This notable discovery likely traces back to a single treasure chest, with coins—often referred to as “pieces of eight”—minted in colonies like Mexico, Peru, and Bolivia.
The salvagers were pleasantly surprised to find many coins bearing clear dates and mint marks. “Every find enriches the narrative of the 1715 fleet,” Guttuso noted. “We are committed to preserving and studying these artifacts, ensuring that their historical significance is appreciated by future generations.”
Over 1,000 silver and gold coins, valued at over $1 million, found from the 1715 Treasure Fleet Shipwreck off Florida coast: https://t.co/u8s2H4akob pic.twitter.com/rXIeGbaBmj
— Local 12/WKRC-TV (@Local12) October 5, 2025
In accordance with Florida law, Guttuso maintains a detailed inventory of the found artifacts, submitting periodic reports to the state, as per the Associated Press.
Florida retains 20% of the treasure, using it for research and public displays, while Guttuso keeps the remaining share, which is allocated to his company and its contractors.
“We aim to do this properly,” Guttuso explained to the AP. “Ultimately, it’s about the benefit to Florida. These treasures become part of the museums’ collections.”
This article originally appeared on The Western Journal.
