Treasure Coast Discovery: The Lost Gold and Silver Coins of the 1715 Fleet
Beneath the turquoise waves of Florida’s “Treasure Coast,” history has once again surfaced from the deep.
The 1715 Fleet – Queens Jewels, LLC, the company holding exclusive salvage rights to one of the most famous shipwrecks in the Americas, has announced the recovery of over 1,000 silver coins and several gold artifacts from the remains of the legendary 1715 Treasure Fleet.
Discovered by Captain Levin Shavers and his crew aboard the M/V Just Right, the cache includes more than 1,000 Spanish silver coins known as reales and five rare gold escudos—each a glittering relic from the Golden Age of the Spanish Empire.
Their estimated market value already surpasses $1 million, but their historical importance is priceless.
Photo Credit: 1715 Fleet – Queens Jewels, LLC
A Storm That Changed History
On July 31, 1715, a fleet of eleven Spanish galleons set sail from Havana, heavily laden with New World riches—gold, silver, emeralds, pearls, and fine jewelry destined for the Spanish crown. Bound for Cádiz, they carried the wealth of an empire built on the vast mines of Mexico, Peru, and Bolivia.
But fate intervened. Just days after departing, the fleet encountered a massive hurricane off Florida’s east coast. In a matter of hours, nearly the entire convoy was destroyed. Over 1,000 sailors perished, and a fortune in treasure was lost to the sea—scattered across miles of sandy seabed.
Historians estimate that the fleet’s total cargo was worth more than $400 million in today’s dollars, making it one of the greatest maritime disasters—and greatest treasure losses—in the history of the Americas.
Photo Credit: 1715 Fleet – Queens Jewels, LLC
The 2025 Recovery: Silver, Gold, and Stories of the Past
More than three centuries later, that lost fortune continues to reveal its secrets. During the summer 2025 salvage season, the Just Right crew made one of the most remarkable discoveries in recent years.
“This discovery is not only about the treasure itself, but the stories it tells,” said Sal Guttuso, Director of Operations for Queens Jewels, LLC. “Each coin is a piece of history—a tangible link to the people who lived, worked, and sailed during the Spanish Empire’s golden age. Finding 1,000 of them in a single recovery is both rare and extraordinary.”
The recovered coins, preserved under layers of sand and sediment for over 300 years, range from small silver reales to larger denominations. The gold escudos—minted in the Spanish colonies of Mexico and Peru—retain their lustrous shine, a testament to the enduring power of precious metals against the elements.
Many coins still display clear mint marks and visible dates, crucial details for historians and collectors alike. Their preservation suggests that they may have once been stored together in a wooden chest or leather pouch that broke apart as the ship disintegrated in the storm.
Photo Credit: 1715 Fleet – Queens Jewels, LLC
The Mystery of the “Pieces of Eight”
Among the recovered silver coins are the famous “pieces of eight,” or 8 reales—the standard currency of the Spanish Empire that became a global medium of exchange in the 17th and 18th centuries. These coins were minted in cities like Mexico City, Potosí, and Lima, bearing the royal seals and intricate designs of the Spanish monarchy.
In their time, the pieces of eight traveled the world—from the Caribbean and Europe to Asia via the Manila Galleons. They became the very foundation of international trade and even influenced the design of modern currencies, including the U.S. dollar symbol ($), which originated from the Spanish “P.” and “S.” for peso de ocho.
Each recovered coin, therefore, is more than a collectible—it is a story of global commerce, empire, and adventure.
Photo Credit: 1715 Fleet – Queens Jewels, LLC
Florida’s Treasure Coast: Where History Meets the Sea
The recovery took place along a stretch of ocean between Vero Beach and Fort Pierce—an area famously dubbed “Florida’s Treasure Coast.” The nickname dates back to the 1960s, when local divers first began discovering Spanish coins and jewelry washing ashore after storms.
Today, operations like those of 1715 Fleet – Queens Jewels, LLC continue the work, combining modern technology with historical research to locate long-lost artifacts. Using sonar scanning, underwater drones, and precise GPS mapping, licensed teams operate under strict archaeological and environmental oversight.
“Every find helps piece together the human story of the 1715 fleet,” added Guttuso. “We are committed to preserving and studying these artifacts so that future generations can understand the courage, ambition, and tragedy that defined this chapter of maritime history.”
Unlike unregulated treasure hunting, all salvage work on the 1715 Fleet site is conducted in partnership with state archaeologists and federal authorities. Each find is documented, photographed, and conserved before any public display or sale.
From the Ocean Floor to the Museum
Once recovered, the silver and gold coins undergo an intricate conservation process. Layers of encrustation are carefully removed in controlled laboratory conditions, preserving the patina and stamped markings that tell their story.
Many of the artifacts will eventually be displayed to the public in Florida museums, allowing visitors to glimpse the tangible remnants of the Spanish colonial world. Select pieces may also be exhibited internationally or made available to collectors through official, state-approved channels.
Plans are already underway for a traveling exhibit showcasing the latest discoveries from the 1715 Fleet, combining history, archaeology, and artistry in a single narrative of rediscovery.
Photo Credit: 1715 Fleet – Queens Jewels, LLC
A Legacy of Exploration
The 1715 Fleet – Queens Jewels, LLC holds the exclusive U.S. District Court rights to salvage the remains of the fleet. Salvage work is conducted only by its authorized subcontractors, ensuring that operations meet both ethical and scientific standards.
The company’s work continues a long tradition of exploration along Florida’s coast—where shipwrecks from Spain, England, and the Caribbean still rest beneath the waves, their stories waiting to be told.
What sets the 1715 Fleet apart is the sheer scale of its history. With eleven ships lost in a single storm, it represents not only economic loss but also the fragility of empire at the height of its power. Each artifact recovered—each coin, jewel, or fragment of cargo—is a message sent across three centuries, from a time when the oceans connected the Old World and the New.
The Enduring Allure of Lost Treasure
For collectors, historians, and dreamers alike, the 1715 Treasure Fleet continues to inspire fascination. It combines everything that stirs the human imagination—wealth, adventure, danger, and redemption.
While the value of the recovered treasure is significant, the true worth lies in what it reveals about history. The coins, forged in colonial mints under royal decree, speak of ambition, conquest, and artistry. Their survival—through storm, salt, and centuries—echoes the resilience of the human spirit.
More than 300 years later, as each glinting coin is lifted once again into the sunlight, the legend of the 1715 Fleet reminds us that history still sleeps beneath the sea, waiting for those who dare to find it.
Cover Photo Credit: 1715 Fleet – Queens Jewels, LLC
