Searchers recovered over 1,000 silver and gold coins — worth around one million dollars — from the ocean floor off Florida’s aptly named “Treasure Coast.” The loot comes from a 1715 treasure fleet that sank over 300 years ago in a hurricane.
Queens Jewels, LLC, which owns exclusive salvage rights to the remains of the fleet, announced the recovery. It said that over 1,000 silver coins known as Reales were recovered by Captain Levin Shavers and his crew aboard the “M/V Just Right.”
Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.
Point phone camera here
In addition to the silver, five gold coins, known as Escudos, were recovered earlier in the 2025 summer salvage season.
History behind the treasure
Queen Jewels said the coins were preserved beneath centuries of sand and sea. They’re part of a vast New World fortune that the treasure fleet was transporting back to Spain when disaster struck.
Historians estimate that as much as $400 million worth of gold, silver and jewels were lost in the storm. The loss was marked as one of the greatest maritime tragedies and treasures of the Americas.
Historians suggest the coins, known as pieces of eight, might have fallen from a single chest when the ship broke apart. Some still have visible mint marks from Spanish colonies like Mexico, Peru and Bolivia.
“This discovery is not only about the treasure itself, but the stories it tells,” said Sal Guttuso, director of operations. “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.”
Queen Jewels said the coins will undergo “careful conservation” before being displayed to the public. The company said there are plans to select pieces to be displayed at local museums, giving Floridians and visitors a chance to see the treasures.
“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.”
Treasure Coast
The discovery site lies within the stretch of coast often referred to as the Treasure Coast. There, officials continue salvage operations under strict state oversight and in accordance with archaeological guidelines.
