Treasure chest washes up on Florida shore – Courtesy: Shutterstock – Image by Isabella Pfenninger
The salvage business responsible for the historic discovery said Tuesday that it has retrieved more than 1,000 silver and gold pieces worth approximately $1 million from the wreckage of a Spanish armada that drowned off the Treasure Coast of Florida more than 300 years ago.
The eastern portion of Florida’s Atlantic coastline, which includes Indian River, St. Lucie, and Martin counties, is known as the Treasure Coast. Its name comes from the abundance of treasure discovered offshore from the shipwrecks of the Spanish Treasure Fleet in 1715.
According to a news release from salvage company Queens Jewels, LLC, Capt. Levin Shavers and his team made the most recent discovery during the summer salvage season of 2025. The business is the sole owner of the 1715 Treasure Fleet’s salvage rights.
More than 1,000 silver coins, referred to as “Reales,” five gold coins, known as “Escudos,” and other rare gold objects were among the discoveries.
The coins were part of the enormous riches carried by the Spanish armada that sank on July 31, 1715, during a hurricane. They were kept under centuries of sea and sand. It is one of the biggest maritime catastrophes — and treasures — of the Americas, with historians estimating that up to $400 million worth of gold, silver, and gems were lost.
Treasure coins from a shipwreck in 1715 provide insight on the Spanish Empire.
Sal Guttuso, Director of Operations for Queens Jewels, stated, “This discovery is not just about the treasure itself, but the stories it tells.” A physical connection to the people who lived, worked, and sailed during the Spanish Empire’s Golden Age, each coin is a fragment of history. It is uncommon and remarkable to find 1,000 of them in one recovery.
Mexico, Peru, and Bolivia were among the Spanish territories where the silver pieces of eight were struck.
Many still have dates and mint marks visible, making them valuable to collectors and historians both. According to experts, the coins’ condition raises the possibility that they were from a single shipment or chest that spilled when the ship broke apart in the storm.
Historic discoveries continue to be made along Florida’s Treasure Coast.
Under governmental supervision and archeological rules, salvage efforts are still underway at the crash site, which is located along Florida’s Treasure Coast.
“Every find helps piece together the human story of the 1715 fleet,” said Guttuso. “We are committed to preserving and studying these artifacts so future generations can appreciate their historical significance.”
Before being shown to the public, the found coins will be conserved. According to the salvage company, plans are in place for a few items to be displayed at nearby museums.
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Born and raised in South Florida, Krystal is a recent graduate from the University of Miami with professional writing experience at the collegiate and national news outlet levels. She’s a foodie who loves all things travel, the beach, & visiting new places throughout Florida.