Treasure hunters with salvage company Queens Jewels, LLC, discovered more than 1,000 silver coins worth about $1 million this summer while diving south of the Sebastian Inlet near Wabasso Beach – the richest recovery in 35 years from the ill-fated Spanish plate fleet.

People have been looking for years for loot from 11 Spanish ships that sank or went aground during a hurricane on July 31, 1715, shifting the balance of power in Europe and giving Florida’s Treasure Coast its name.

Spanish colonial authorities, competing with pirates who descended on the wreck site, recovered a majority of the coins, gold and silver bars in the years after the storm, but modern treasure hunting efforts got going in the 1950s when Wabasso resident Kip Wagner kept finding gold coins when beachcombing.

In July 1964, legendary treasure hunter Mel Fischer found the “Carpet of Gold,” a small section of sea floor near Fort Pierce paved “with thousands of Mexican, Peruvian and Columbian gold pieces.”

Fischer’s discovery remains the greatest treasure fleet find in modern times, and treasure hunting has continued ever since.

The latest discovery occurred in June when Levin Shavers, who joined the hunt in 2016 and captains MV Just Right, one of two ships contracted by Queens Jewels, came upon a few coins while diving in about 7 feet of water at spot called the Anchor Wreck site.

After burrowing another 3 feet down over the next several days, Shavers found a total of 1,015 Reales, a form of Spanish currency from the mid-14th century.

“This is by far the biggest find I’ve ever experienced in my career,” said Shavers. “I am so thankful. We put a lot of effort into doing this the right way and when you finally find something, it feels incredible. It’s such a great payoff for all the work that goes into it.”

The treasure hunters believe there may be two additional caches in the area, as three bags of Reales were transported in a single chest, according to recovered ships’ manifests.

Since the recovered coins were buried under 3 feet of sand, they are in very good condition.

“They are almost full-weighted and did not suffer a lot of degradation,” said Sal Guttuso, director of operations for Queens Jewels. “Most of the dates and markings are still clearly visible.”

Queens Jewels and its subcontractors are the only salvors permitted to excavate the 1715 sites. According to their agreement with the Florida Department of State Division of Historical Resources, 20 percent of what they find is turned over to the state for preservation.

Queens Jewels will get 50 percent of what’s left, with the other 50 percent going to Shavers and Vero native Mike Perna, who started treasure hunting in 2000 and captains the MV Mighty Mo, the other ship under contract with Queens Jewels.
Plans are under way for select pieces from this summer’s find to be exhibited at local museums, Guttuso said.