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1715 Treasure recovered from shipwreck: $1 million in stolen gold coins

Three centuries ago, nearly $400 million worth of treasure washed up on Florida’s shores. Part of that cargo was recovered in 2015, before US authorities discovered that part had been stolen during a dredging mission.

The story is reminiscent of Hollywood worthy adventure stories. On July 24, 1715, a convoy of 12 Spanish ships left Cuba for the North Atlantic. A hurricane east of Florida’s coast sank 11 ships, carrying huge amounts of treasure. Thousands of coins and gold ornaments and more on board ArgentArgentFor an estimated price of $400 million.

In 2015, a salvage vessel operated by the Florida-based Schmidt family contained 51 gold coins and 12 meters of gold chains. The value of the loot reached $1 million.

1 Million Dollar Treasure Found in Florida Wreck ©CBS News

Looting at the bottom of the sea

Accidents around valuable cargo don’t stop there. There Florida Fish and Wildlife Conservation Commission (FWC) met the Schmidt family about 10 years ago, suspecting embezzlement by a private company. A recent investigation by the FBI determined that the Schmidt family had recovered 50 more pieces than initially announced.

Between 2023 and 2024, several gold double balloons were sold at private auctions: an act of theft, according to US officials. Investigations by the FBI proved particularly effective: 37 of the 50 items were found. According to the FWC, the specimens will be returned to their rightful owners, without elaborating on the matter. Investigators are still tracking down the 13 missing duplicates so they can be returned to the FWC.

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