Gold! The Schmitt family from Florida, professional treasure hunters since 2013, has discovered sunken treasure worth millions of dollars. The find includes 51 gold coins, an ornately designed 40 foot gold chain, 110 silver coins and buttons, and the best of them all: a Tricentennial Royal, a coin so special it is worth half a million dollars.
Gold coins in the 18th century, much like the ones found last month, were poorly minted. Much more focus would be put into the weight and gold content for practical purpose and design would take a back seat. However, certain coins were commissioned to be perfect inside and out as presents to the king. During this time, the Tricentennial Royal found would have been for King Felipe V, then ruler of the Spanish empire.
How much is the entire yield worth? Over one million dollars. The Tricentennial Royal alone is worth $ 500,000. 1715 Fleet - Queen Jewels LLC estimates each coin to fetch about $ 250 each. The pot is split three ways: 20% to the state, in this case Florida, and the rest split evenly between the Schmitts and the company that subcontracts them, 1715 Fleet - Queen Jewels LLC, as per state law.
The amazing finds are precious remains of a hurricane tragedy that happened off the coast of Florida in late July of 1715. The Capitana, flagship of the doomed fleet, carried the treasure recently found. The fleet was on its way to Spain from Cuba when tragedy struck. There were 12 ships in the fleet and all but one was lost. Immediately after the tragedy, Spain recovered most of the treasure but centuries after more gold and plata (silver) still remain on the sea floor.
The treasure was found last month but only revealed to the public now to coincide with the 300th Anniversary of the historic sinking.