One minute you’re enjoying a warm summer dive, and the next you’re uncovering ancient treasure worth more than you ever dreamed of. Such was the case last month when a Florida man named Eric Schmitt stumbled upon a pile of gold artifacts worth over $1 million from the wreckage of a Spanish fleet that sank during hurricane off the Florida coast three centuries ago.
Among the artifacts are 51 gold coins, 40 feet of gold chain, and an extremely rare coin called a “Tricentennial Royal,” minted for King Philip V of Spain. Schmitt told the Orlando Sentinel that the Tricentennial Royal alone is worth approximately $500,000 due to its rarity and near-perfect condition.
“These things were known as presentation pieces not meant to be circulated as currency,” Schmitt said of the Royal coins, of which only about six are known to exist.
The find by Eric Schmitt was announced late Monday by a salvage company that owns the rights to the site where the coins and other valuables were found. Under federal and Florida law, up to 20 percent of the treasure will be turned over to the state for display in a museum, while the salvage company and Schmitt will split the remainder.
