Long-lost Spanish treasure worth $1m discovered off Florida coast | US News

Long-lost Spanish treasure worth an estimated $1m (£740,000) has been discovered off the coast of Florida.

More than 1,000 silver and gold coins were found by a team of specialist divers in a stretch of water aptly known as the “Treasure Coast”.

It is believed they were minted in the Spanish colonies of Bolivia, Mexico and Peru – and were bound for Spain on a fleet of ships also carrying jewels back in 1715.

But the precious loot spilled into the sea when a hurricane wrecked the flotilla.

This is not the first such discovery to be made along the Treasure Coast, as gold coins worth millions of dollars have been uncovered by salvagers and hunters in recent years.

What makes this haul special is that dates and mint marks are still visible on some of the coins found over the summer – a valuable resource for historians.

Sal Guttoso from Queen Jewels, the company that struck gold, said: “This discovery is not only about the treasure itself, but the stories it tells.

“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 company uses underwater metal detectors, and hand fans sand, to carefully comb the sea floor.

Florida law means “treasure troves” belong to the state, but excavators are often given permission to conduct “recovery services”.

As well as this, 20% of historical artefacts must remain in public ownership – either for research or to go on display.