Gold coins, artifacts recovered from Spanish treasure fleet lost off Florida

A TREASURE hunting family in the US have found $1.4 million worth of gold and coins in a Spanish shipwreck submerged for 300 years.

TREASURE hunters have found booty worth an estimated $A1.38 million from an 18th century Spanish shipwreck off Florida.

The find includes 51 gold coins, 12 meters of ornate gold chain and a single rare coin called a Royal that was made for then King PillipV in 1715.

That coin is likely worth more than half a million dollars in itself.

The treasure was discovered a month ago in shallow waters off the town of Fort Pierce but was kept secret to coincide with the 300th anniversary of the sinking of a fleet of Spanish ships in a hurricane off Florida on July 30, 1715.

The vessels were sailing from Cuba to Spain.

Posted by 1715 Fleet - Queens Jewels, LLC on Monday, July 27, 2015

After the fleet went down, taking with it more than 1000 lives, Spain recovered much of the sunken treasure but hundreds of thousands of coins remain on the sea bed. Estimates place their collective value at $US550 million.

Under Florida law, the state keeps 20 per cent of the treasure.

The first signs of the gold were found by Eric Schmitt and his family while on a regular treasure hunting trip in September 2013. Swimming about with a metal detector, they had previously uncovered 50 feet of gold chain and a gold filigree pyx (communion container).

The family are subcontractors to the treasure hunting group 1715 Treasure Fleet which made the new discovery in the same area some off 45 metres off the Fort Pearce coast.

The picture speaks for itself! One of the most amazing recoveries in 1715 Fleet History. Congratulations to the entire...

Posted by 1715 Fleet - Queens Jewels, LLC on Monday, July 27, 2015

The treasure hunters have been seeking the cargo of the Capitana, the flagship of the wrecked Spanish treasure fleet.

Company spokesman Brent Brisben said his firm had so far identified what they believe to be six of the 11 wrecks: “Five more are remaining, with an estimated $400 million worth of treasure still out there.”