A family found the 1715 treasure in Florida, but secretly kept 50 gold coins in their possession. Help from the FBI led to the discovery of 37 coins — there are still 13 whose whereabouts are unknown.
A total of 37 gold coins stolenreportedly valued at around one million euros, were recently recovered by authorities in Florida, USA, after being salvaged from 18th century Spanish shipwrecks near Vero Beach.
The coins were part of a treasure lost when a fleet of Spanish ships sank during a hurricane in 1715.
The fleet, which transported gold and silver from the Americas to Spain to finance the wars, left Havana on July 24, 1715. Days later, off the east coast of Florida, taking a treasure estimated at 380 million euros to the bottom of the ocean and claiming hundreds of lives.
In 2015, members of Schmitt familyunder contract with salvage rights, made the front page of newspapers for recovering 51 gold coins and a 40-foot-long gold chain from the wreckage. However, the family did not report the discovery of another 50 gold coins.
An investigation by the Florida Fish and Wildlife Conservation Commission (FWC), supported by the FBI, revealed that Eric Schmitt, part of the family-run Booty Salvage Inc., engaged in illicit activities to hide and profit from the hidden coins. In 2016, Schmitt allegedly placed three of the stolen coins at the bottom of the ocean for investors to “discover” and later sold several coins through auction houses and private collectors between 2023 and 2024.
Since then, FWC authorities have recovered 37 of the 50 stolen coins. The remaining 13 have not yet been found and the investigation is ongoing.
“This case highlights the importance of protecting Florida’s cultural heritage and holding those who exploit it accountable,” FWC researcher Camille Soverel said in .
The recovered coins will be returned to their rightful custodians, ensuring the preservation of their historical and cultural significance. The wrecks of the 1715 fleet remain a vital part of Florida’s history.
