$1 Million in Silver and Gold Coins Recovered Off Florida’s Treasure Coast

A team of modern-day treasure hunters has recovered more than 1,000 silver and gold coins from the fabled 1715 Treasure Fleet shipwrecks off Florida’s coast. The find, announced by 1715 Fleet – Queens Jewels, LLC, is valued at approximately $1 million and offers a rare glimpse into the riches and tragedy of one of history’s most storied maritime disasters.

According to the company’s press release, the coins — 1,051 silver reales and five gold escudos, along with several other rare gold artifacts — were recovered this past summer by Captain Levin Shavers and the crew of the M/V Just Right. The discovery was made in the waters off Vero Beach, part of Florida’s aptly named Treasure Coast, where 11 Spanish galleons met their fate more than three centuries ago.

The 1715 Treasure Fleet had departed Havana, Cuba, bound for Spain with a cargo of immense value: gold and silver coins, gold bars, jewelry and other treasures from the Spanish colonies of Mexico, Peru and Bolivia. But on July 31, 1715, the convoy sailed into a catastrophic hurricane. Eleven of 12 ships were lost, along with more than 1,000 lives and an estimated $400 million in riches.

“This discovery is not only about the treasure itself, but the stories it tells,” said Sal Guttuso, Director of Operations for Queens Jewels. “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 newly found coins — sometimes called “pieces of eight” — were preserved beneath layers of sand and sea life for more than 300 years. Many still display clear dates and mint marks, making them valuable to both collectors and historians. Their condition suggests they may have once been stored in a single chest that broke apart during the hurricane’s fury.

Captain Shavers described the emotional impact of the find in local interviews: “It’s like finding something you thought was lost forever. You can feel the connection to the past — it’s an awesome feeling.”

Modern salvage operations along the Treasure Coast operate under strict state oversight and archaeological guidelines. Queens Jewels holds the exclusive US District Court custodianship and salvage rights to the remains of the 1715 Fleet. After conservation, the newly recovered coins will be cataloged and prepared for public exhibition, with select pieces planned for display in Florida museums.

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

Three centuries after the hurricane scattered Spain’s fortune across the Florida seabed, the Treasure Coast continues to live up to its name — reminding the world that the lure of lost riches and the romance of discovery still endure beneath the waves.

Credits: Photos courtesy of 1715 Fleet-Queens Jewels, LLC.