Salvage crew recovers over $1 million in gold, silver coins from 1715 shipwreck

Over $1 million worth of silver and gold coins were recovered on the Treasure Coast by Queens Jewels, LLC, a historic shipwreck operation that owns the salvage rights to the remains of the 1715 Treasure Fleet Shipwreck.

During the 2025 summer salvage season, Capt. Levin Shavers and the crew of the M/V Just Right recovered over 1,000 silver coins, known as Reales. They also recovered five gold coins, called Escudos, as well as other rare gold artifacts.

The Treasure Fleet Shipwreck occurred on July 31, 1715, where an estimated $400 million worth of gold, silver and jewels were lost in the disaster. The fleet was transporting New World riches back to Spain at the time of the wreck. It has been marked as one of the greatest maritime tragedies of the Americas.

"This discovery is not only about the treasure itself, but the stories it tells," said Sal Guttuso, Director of Operations.

"Each coin is a piece of history, a tangible link to the people who lived, worked, and sailed during the Golden Age of the Spanish Empire. Finding 1,000 of them in a single recovery is both rare and extraordinary," Guttuso said.

Many of the coins, known as pieces of eight, still have visible dates and mint marks engraved on their surface. They were minted in the Spanish colonies of Mexico, Peru and Bolivia.

Experts say the condition of the coins suggests they were part of a single chest or shipment that spilled when a hurricane caused the ship to break apart.

Queens Jewels, LLC works under strict state oversight and archaeological guidelines to continue to uncover missing pieces from the wreck.

"Every find helps piece together the human story of the 1715 fleet," Guttuso said.

"We are committed to preserving and studying these artifacts so future generations can appreciate their historical significance," he said.

In a statement from the company, they confirm the recovered coins will undergo careful conservation before being displayed to the public. Plans are underway for select pieces to be exhibited at local museums, offering both Floridians and visitors a chance to witness firsthand the treasures of Florida's maritime past.

This article was written by Emma Romano for the Scripps News Group in West Palm Beach.