Authorities in Florida have made a significant discovery, recovering 37 gold coins that were stolen from 18th-century shipwrecks off the coast of Florida. The coins are part of a larger collection of over 100 coins that were initially found in 2015, with a total value of more than $1 million.
The Florida Fish and Wildlife Conservation Commission (FWC) revealed that salvage operators who were hired to explore Spanish shipwrecks near Vero Beach reported only half of the historic coins they found, withholding information about the other half illegally. These shipwrecks were carrying valuable treasure from the “New World” to Spain to support the country’s expensive wars, according to the 1715 Fleet Society, a nonprofit organization based in Pennsylvania that studies the fleet.
The Spanish treasure ships set sail from Havana, Cuba on July 24, 1715, bound for Spain. Unfortunately, a hurricane struck the fleet off the east coast of Florida a few days later, causing 11 out of the 12 ships to sink. This tragic event resulted in the loss of hundreds of sailors and over $400 million worth of gold and silver that went down with the ships.
Fast forward to the present day, members of the Schmitt family, who were hired to salvage artifacts from the shipwrecks, gained attention when they announced the discovery of 51 gold coins and 40 feet of gold chain worth over $1 million. However, it was later revealed that the Schmitts had not disclosed an additional 50 coins they had found.
FWC investigators, in collaboration with the FBI, uncovered that Eric Schmitt, an employee of the family-owned company Booty Salvage Inc. based in Fort Pierce, had planted three of the stolen gold coins on the ocean floor in 2016 for investors to find. Furthermore, Schmitt had sold several of the coins between 2023 and 2024 to auction houses and private individuals.
As a result of the investigation, FWC has managed to recover 37 of the 50 coins that were stolen from the 1715 Fleet shipwrecks. FWC Investigator Camille Soverel emphasized the importance of protecting Florida’s cultural heritage and holding accountable those who attempt to profit from its exploitation.
The recovered coins will be returned to their rightful owners, and efforts are ongoing to locate the remaining 13 stolen coins. This case serves as a reminder of the significance of preserving and respecting historical artifacts and the consequences of engaging in unlawful activities related to valuable heritage items.
