Rare Gold, Silver Coins Worth Rs 8 Crore Found In Centuries-Old Spanish Shipwreck

More than 1,000 silver coins and five gold coins, valued at around $1 million (Rs 8.87 Crore), have been recovered from a 1715 Spanish shipwreck off the coast of Florida. The discovery was announced by 1715 Fleet-Queens Jewels LLC, a shipwreck salvage company, on September 30.

The silver coins, known as "reales," were found by Captain Levin Shavers and the crew of the motor vessel Just Right near Florida's Treasure Coast. In a separate recovery, five gold coins called "escudos" were also found.

According to the company, the treasure is part of a much larger fortune lost when a Spanish fleet transporting riches from the New World to Spain was struck by a hurricane on July 31, 1715. Historians estimate that nearly 400 million worth of gold, silver, and jewels sank with the fleet during the storm.

Photo Credit: 1715treasurefleet.com

"This discovery is not only about the treasure itself, but the stories it tells,” Sal Guttuso, the company's director of operations, said in a statement. "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."

The coins, known as pieces of eight, were minted in the Spanish colonies of Mexico, Peru, and Bolivia. Many still bear visible dates and mint marks, making them important to historians and collectors alike. The condition of the coins suggests they were part of a single chest or shipment that spilled when the ship broke apart in the hurricane's fury.

The discovery site lies within a stretch of ocean often referred to as Florida's "Treasure Coast," where modern salvage operations-working under strict state oversight and archaeological guidelines-continue to uncover relics from the ill-fated fleet.

"Every find helps piece together the human story of the 1715 fleet," added Sal Guttuso. "We are committed to preserving and studying these artifacts so future generations can appreciate their historical significance."

The recovered coins will undergo careful conservation before being displayed to the public. Plans are underway for select pieces to be exhibited at local museums, offering both Floridians and visitors a chance to witness firsthand the treasures of Florida's maritime past.