$4.5M of Gold Recovered From 300-Year-Old-Shipwreck in Florida

[MULTIZ321]

$4.5M of Gold Recovered From 300-Year-Old-Shipwreck in Florida - by Jessica Eggert/ World/ mashable.com

"Florida's Treasure Coast has truly earned its name this summer.

Less than a month after a group of treasure hunters uncovered $1 million worth of 60 gold coins from a 300-year-old shipwreck off of Florida's coast, they announced a second discovery of over 350 gold coins from the same site.

Except this one's worth a whopping $4.5 million..."

Image: 1715 Fleet - Queens Jewels, LCC


Richard

 

[dmharris]

Do they get to keep it? Can you imagine? I'd probably drown myself gasping when finding it!

 

[falmouth3]

Do they get to keep it? Can you imagine? I'd probably drown myself gasping when finding it!

According to the article, they can keep all but 20%. Of course there are probably income taxes on the treasure too.

 

[Passepartout]

Of course, the ancient gold, is not worth anything as monetary value, you can't take a 'piece of eight' into a 7-11 for a Slurpee. What most treasure hunters do is dole the coins out to specialty shops that sell them individually for their 'antique' value, which could be orders of magnitude greater than the 'metal value' of the gold.

Florida (and the U.S.) takes their cut in taxes too.

 

[durrod]

And what about the original country-owner of the gold or ship. Can they claim anything? After all was their property who sank into the ocean.

 

[Passepartout]

And what about the original country-owner of the gold or ship. Can they claim anything? After all was their property who sank into the ocean.

Nope. It's Finders Keepers. Has always been WRT ocean salvage.

 

[FLDVCFamily]

That is so cool. I love hearing about finds from the Treasure Coast!