Contraband Gold, Gold Smuggling

[treasurediver]

Gold smuggling

During colonial times, the value of gold was about 16 to 18 times the value of silver. Gold was therefore easier to hide and smuggle. On most galleons there was smuggled gold. Almost all of the gold found on the “Atocha” was undeclared, was not registered in the manifest.

At times the smuggling of gold was punished by pain of death. Still, gold was smuggled.

One interesting event happened on the treasure fleet coming from Brazil. Sorry I don’t remember the exact date, but if I remember right, it was about 1760?

The king of Portugal was in a bad mood and proclaimed that this time he would really have the pain of death enforced for the smuggling of gold. The merchants were very concerned and sent a boat to meet the fleet with the message.

There was a loophole in the law about smuggling gold. Smugglers had the opportunity to make a late declaration before reaching Portugal. On this occasion over 2 tons (metric) were registered in the late declaration.

There is the story about 2 galleons that had lost their way and landed in the Canary Islands instead of Spain. Hard to believe this was accidental, but one never knows what all can happen on the oceans. Anyway, while the 2 galleons were in the harbor in the Canary Islands, a volcano erupted and wrecked the 2 galleons.

The galleons were then salvaged. Way more treasure was salvaged then had been registered. The story says that the King stated that many galleons should get wrecked because it turned out to be good business.

This whole story sounds unbelievable. I feel like checking the facts.

 

Amazon Forum Fav 👍

Agony and Death on a Gold Rush Steamer: The Disastrous Sinking of the Side-Wheeler Yankee Blade - Grab it through Amazon!

[treasurediver]

When we were prospecting for diamonds in the Rio do Sono, (see picture of the site)

the owner of the land visited often to check on our progress. He was 72 years old and suffering from Parkinson's disease. This was the reason he was selling his properties.

He sold the property on the shore of the Rio Do Sono to a Japanese corporation at a good price showing the diamonds we had found. For D. and I, the old man’s connections turned out to become life changing.

Among his properties, many ranches with many thousands of cattle, was also the oldest gold mine of Brazil.

Morro Velho - Wikipedia

en.wikipedia.org

He told us many stories about his life. Son of the Vice President of Brazil, he studied to become a mining engineer. His career culminated as owner of Brazil’s oldest and deepest gold mine. In the long life of the Morro Velho mine there were many good times and difficult times. Even in modern times in the 20th century they were forced to smuggle part of their gold on the back of mules, using the old mule paths over the mountains like centuries ago.

The paths over the mountains ended in a bay about 70 miles west of Rio de Janeiro. (chart)

From there the clandestine gold was shipped in small boats to the port of Rio de Janeiro and loaded on the ships. From 1700 to 1850? https://en.wikipedia.org/wiki/Brazilian_Gold_Rush

Speculating: 150 years, maybe one smuggling trip per month on average? That would be 1800 trips? 5% got lost, that would be 90 loads? How does one research that? Clandestine shipments are not registered. No paperwork.

I wonder how much of the contraband gold on board the “Santa Rosa”1726, was smuggled on the back of mules over these mountain passes.

A few years later I anchored my Schooner in the bay and started searching for shipwrecks. When I was on a job, I let D. use the boat and crew, to look for shipwrecks.

There was a lot to learn.

• What are the known shipwrecks in the area? It turned out to be quite a lot. I located a few to look at and to learn more about the currents, tides, swells, storms and other weather hazards. The diving conditions, water clarity etc.
• Sometimes the water was clear, sometimes it was pea soup. Why? How could we predict the changes?
• Innumerous Cabotage boats were lost in the area over the centuries. Quite often there are thunderstorms and cold fronts moving in when it rains so hard that the visibility is zero.
• At least 2 pirate ships sank in the area. Guess what, the pirates found out about the clandestine gold shipments.
• A steamer running a load of arms in preparation for the Paraguay war, 1853. Naufrágio Califórnia (naufragiosdobrasil.com.br)
• A battle cruiser “Aquidaba”, 1906, that burned and blew up.
• Many more.

And then one day I happened on an old shipwreck. How old? At the time I had little experience and did not know how to date the wreck. I took one Olive Jar to the surface. An octopus was in it. Nice dinner.

I donated the Olive Jar to the friendly old lady (she must have been 90 years old) living near the shore, who told me about the legend of a nearby shipwreck. Her grandfather told her: A long, long time ago the ship of a very rich man was caught in a storm. As the ship sank, he thought he was going to die and promised God that he would build a church if he survived. He managed to swim to a rock and climb up.

On the rock, a bit higher than the spray of the waves reaches, there is a little miniature church or shrine.

I always wanted to go back to that shipwreck, but never made it.

The Olive Jar? The lady knocked a hole in it and let a hen lay her eggs in it.

The octopus … the empire has its tentacles everywhere.

Picture of modern goldrush in Brazil.

 

[treasurediver]

What?? another shipwreck octopus story

1970,
HMS Thetis 1830

I had built a fishing boat and equipped it with a low-pressure compressor and 300ft of hose. This is the way the local dive fishermen worked. Cabo Frio was a tourist town, with a permanent population of about 15,000 that grew to 100,000 in the tourist season.

Tourists liked to eat sea food, oysters, mussels, fresh fish, and lobsters. I don’t know for what reason the locals could not fish for lobsters with traps, like it is done in most places. But, when asked, they said: “It does not work”.

There were 2 kinds of lobsters: Spiny Lobsters and Slipper Lobsters. Both kinds lived most of their lives in deep water. Only once they reached maturity, they migrated to shallower warmer water to procreate.

In the deep water, the Antarctic cold water current prevailed.

On the surface, the warm Brazil current prevailed. At the Cape of Cabo Frio, there was often a resurgence of the nutrient rich, cold, deep, cold water. An algae bloom happened and there was an abundance of fish where the 2 waters mingled.

We, the divers, called the algae bloom the “Pea Soup”. Visibility was restricted to a distance of arm’s length. One could just see the fingertips. Diving down to the thermocline, suddenly the water cleared. It was like dipping your head into a bucket of ice. The scalp hurt. A whole new world opened to sight. The cold water was very clear. One could see a lobster at a distance of 20 feet.

Especially the “Slipper Lobsters” liked to be numerous near the thermocline. We suspected they needed some time to adapt to the warmer water above. Within half an hour one could fill a bag. The fishing of the day was done.

Of course, The lobsters were not distributed equally all over. One had to dive down to the thermocline and search along this level, picking up scattered lobsters.

On such a day I was searching along the west coast of the “Cabo Frio” island. Picking up the occasional “Slipper Lobster”, I spied an octopus peeping out of a hole. Yes, octopus also like to eat lobsters. As I grabbed the octopus, I realized that its home was strangely perfectly round. In the “pea-soup” I could only see the round hole, surrounded by barnacles and algae. Searching a bit more around, I realized that the octopus’s home was the muzzle of a large cannon.

Some distance away there was a large sheet of lead. I picked up a smaller piece of lead to inspect it at the surface.

Later in Cabo Frio, I asked around. The older people knew about the “Shipwreck of the English”.

“This place is cursed...” “Why? I asked”

“Don’t fish there. The fish from there are poisoned and make you very sick. If you sell seafood from there, your fishing license will be cancelled, and you will be fined.”

“The ship got wrecked in a terrible storm. Many sailors died. Every time such a storm approaches, the souls of the dead howl Hooo, Whoooo. And then you hear the rumble of cannon, warning about the danger.” If you read the story about the salvage of the ship, you will understand that.

I visited the place a few times more for curiosity’s sake. When the water was clear, one could see many signs of a shipwreck. A considerable amount of lead sheathing seems to indicate that the whole ship was sheathed with lead.

It took me 15 years to decipher the enigma of the curse and the lead. That is a story for another day.
Below, a page extracted from the narrative of the salvage of the HMS Thetis, 1830

I wonder how this inventory list compares with the manifest? How much of the gold was on the manifest? Compared to how much salvaged?

 

[Magoopeter]

That is a brilliant observation, how many shipwrecks have we researched only to find that divers recovered the exact amount of gold from the wreck, that was manifested, salvage over.

VOC ships, from the Dutch heritages own research they estimate smuggled money would be equal to that manifested as companies’ money.

In more modern times we see the same practice by very long established and recognized companies, not only concerning gold and silver but as you mentioned diamonds.

In the case of shipwrecks carrying diamond the fact that analysis of confidential data on rough gemstones showed an average 77,6 percent increase in value for the stones once they left some African countries and arrive in a foreign country — before any cutting or polishing takes place, these shipments of stones, were undervalued and classified mostly as industrial then shipped by the mines to the UK, US and at that time the biggest diamond cutting centre in the world the Lebanon .

The profit in gold silver can be significantly increased if smuggled, always thought it was strange how bell divers could always recover 100% of the treasure, so there could be 100% of smuggled treasures left.

 

[treasurediver]

Venezuela 1984

We checked in at the island of Margarita off the coast of Venezuela. Diesel fuel cost next to nothing, but I had to hire a taxi to get the fuel in cans at the gas station. The very friendly Lebanese people at the grocery store were kind enough to deliver the fruit and vegetables to the boat.

“Los Roques” was the next destination. A shallow lagoon, protected by fringe reefs and many small islands and shallow reefs makes for splendid snorkeling and diving. As we passed through a narrow passage between reefs, we saw a boat wrecked on the reef. We stopped to check it out. It turned out to be a Navy gunboat, wrecked very recently. A Navy boat was approaching, so we fished for Conch to show we were just tourists passing by. There was a Conch every 10 feet. We ate Conch chowder, Conch salad, fried Conch, Conch fritters, and every imaginable way of preparing Conch. 40 years later, writing this, still makes my mouth water.

The Navy people checked us out. We offered them some Conch. Seeing our dive tanks on deck, they asked us for the loan of some dive tanks. They made dives on the wreck. We refilled the dive tanks. They offered to pay, but I did not accept and said sailors help each other when in need.

A few beers and Conch fritters later, we were great friends. They told us that the gunboat had been chasing a smuggler boat in the night. The smuggler escaped when the gunboat ran over the reef and ended upside-down.

Only years later I realized that this was the first time my boat had been registered as being near a clandestine gold shipment.

The second time happened only a few days later. Talk about being at the wrong place at the wrong time.

 

[treasurediver]

That is a brilliant observation, how many shipwrecks have we researched only to find that divers recovered the exact amount of gold from the wreck, that was manifested, salvage over.

VOC ships, from the Dutch heritages own research they estimate smuggled money would be equal to that manifested as companies’ money.

In more modern times we see the same practice by very long established and recognized companies, not only concerning gold and silver but as you mentioned diamonds.

In the case of shipwrecks carrying diamond the fact that analysis of confidential data on rough gemstones showed an average 77,6 percent increase in value for the stones once they left some African countries and arrive in a foreign country — before any cutting or polishing takes place, these shipments of stones, were undervalued and classified mostly as industrial then shipped by the mines to the UK, US and at that time the biggest diamond cutting centre in the world the Lebanon .

The profit in gold silver can be significantly increased if smuggled, always thought it was strange how bell divers could always recover 100% of the treasure, so there could be 100% of smuggled treasures left.

Undervaluing invoices is still a common practice today.
During colonial times, Ships officers and crews earned most of their income through legal and illegal cargo shipping.
The East India Company allocated a specific amount of cargo space for the ship officers and crews that varied depending on rank. Such goods were not mentioned on the cargo manifest.

The problem is how to obtain solid information about such cargo and how to include its value in the business plan.

 

[Magoopeter]

Below quote from website page, it was well known, personal money boxes were found in the first excavations of VOC ships lead by Rex Cowan in the 70,s.

https://historicengland.org.uk/what...-new-evidence-of-smuggling-and-crew-identity/

Coins tell a tale of smuggling.

“The Rooswijk set off on its last journey, from the Netherlands to Batavia (modern-day Jakarta), with a lot of silver on board - all of it destined for trade in Asia. The precious metal was in high demand and was exchanged for asian spices and porcelain. The value of the Rooswijk's known cargo is thought to have been more than 300,000 guilders. The cargo was in the form of silver ingots and 'pieces of eight' - Mexican reals - these were minted to a recognised standard weight, making them perfect for international trade”.

However, archaeologists have uncovered lots of other, older coins at the wreck site including ducatons from the Republic and the Southern Netherlands (now Belgium) that were not part of the sanctioned cargo. This suggests that the Rooswijk's passengers and crew were carrying extra silver to trade illegally.

Other coins found during the dives have small holes deliberately made in them, an indication that the crew sewed them into their clothes to smuggle to the Dutch East Indies. Concealing the coins in this way also kept them safely hidden from others on board. At this time we know that people were smuggling silver in their shoes and belts, such was the demand overseas.

Smuggling silver was officially prohibited by the Dutch East India Company (VOC) although it seems to have been common practice by many VOC personnel. It's thought that by the time the Rooswijk went down, up to half of the money being transported on these ships was illegal. It has been estimated that a total of 20 to 40 million ducatons were illegally shipped to Asia in the 17th and 18th centuries.

Ther has been several papers written that reference smuggled monies and goods.

file:///C:/Users/peter/Downloads/Mejia.2021.TheeconomicsoftheManilaGalleon.pdf

“These strict regulations provided extraordinary opportunities for smuggling and other illegal practices. Arteaga et al. (2020) provide an interesting analysis of the rent- seeking behavior of the different agents involved in the Manila trade”

https://web.archive.org/web/20200318135926id_/https://pdxscholar.library.pdx.edu/cgi/viewcontent.cgi?article=1180&context=anth_fac

“fully loaded with a diverse cargo of trade goods and bound for Acapulco. The value of its registered cargo (not including the extensive smuggled, unregistered goods commonly boarded onto Manila galleons) can be calculated at 256,666 pesos, based on the reported 3 percent almojarifazgo tax (galleon trade duties) of 7,700 pesos paid before departure.”

https://nyuad.nyu.edu/content/dam/n...s/social-science/working-papers/2019/0023.pdf

“The fleet commanded by the squadron leader Don Agustin Indiaguer Borja sailed in 1765 to Spain with a cargo of 15,785,452 pesos (Silva Herzog, 1956). Some authors, including in their calculations smuggling, claim that the commercial volume of Carrera de Poniente during the 16th and 17th century was similar to that of Carrera de Indias. Bold accounts speak about 12,000,000 pesos (Flynn and Giraldez, 1995)”.

 

[Magoopeter]

With Spanish ships, It is also not what was on the ship but who, Nobles equal smuggled gold on the Kings vessels. The Kings money was mostley silver. Private ships equal gold, Nobles sold all they had moved to the knew world, traded for around five year then returned to Spain to buy larger estates with thier new wealth. The smaller privatley owned ships would probaley be worth more than the kings ships today due to the fact the Noble families trading acumallated thier wealth in gold.

 

[treasurediver]

The second “close encounter”

After the encounter with the Venezuelan Navy, we sailed on to Aves de Barlovento. These reefs again were very rich in fish, lobster, and conch. Many shipwrecks.

On to Aves de Sotavento.

Las Aves Archipelago - Wikipedia

en.wikipedia.org

This is where the French fleet of 1678 got wrecked. Shipwrecks upon shipwrecks everywhere. Giant lobsters. A feast of conch and fish.

On one of the tiny sand islands, there was a little house where a couple of Venezuelan park keepers, Pedro and Gloria, were living in extreme simplicity. They had to spend 90 days alone until they were relieved. The man, a Pemon Indian from the state of Bolivar, in the southeast of Venezuela. His wife was from Guyana. Just on the other side of the river Cuyuni from where her husband came from. She had a lot of gold “between her teeth”, as she said. There was a lot of gold where she came from and the first thing they did with the gold was to have gold crowns fitted on their teeth.

They really appreciated a cold beer because they had no refrigeration and no alcohol in their tiny house. Pedro was only too happy to show us the shipwrecks with the biggest lobsters, 5 pounds was the limit we set, as the bigger ones were less good to eat.

After a few days, we continued to Curacao. https://en.wikipedia.org/wiki/Curaçao

As we checked in with the harbor captain, the officer asked me a lot of questions about a boat or ship that had disappeared. Did I see anything? A fire?, A flash on the horizon?, Flares? Smoke? Debris floating on the surface? Did we hear anything on the radio? Call for help? Conversations? Did we hear an explosion?

We had not seen or heard anything.

The day after, we anchored in Piscadero Bay a few miles to the west of the harbor. The next morning early there was a man on the beach shouting: “Hey, I want to talk with you”. I rowed over to the beach with the skiff.

The man introduced himself as first as a reporter, then as an insurance investigator, and asked the same questions all over.

I told him I had already answered all the questions at the harbor captain and no, I did not know anything and had seen nothing.

Only years later I heard about the vessel with the clandestine shipment of gold that had sunk nearby.

 

[Magoopeter]

MAARER - Maritime Archaeological Archive Repository & Educational Resource - TVH 2001 A0487

maarer.myportfolio.com

The second “close encounter”

After the encounter with the Venezuelan Navy, we sailed on to Aves de Barlovento. These reefs again were very rich in fish, lobster, and conch. Many shipwrecks.

On to Aves de Sotavento.

Las Aves Archipelago - Wikipedia

en.wikipedia.org

This is where the French fleet of 1678 got wrecked. Shipwrecks upon shipwrecks everywhere. Giant lobsters. A feast of conch and fish.

On one of the tiny sand islands, there was a little house where a couple of Venezuelan park keepers, Pedro and Gloria, were living in extreme simplicity. They had to spend 90 days alone until they were relieved. The man, a Pemon Indian from the state of Bolivar, in the southeast of Venezuela. His wife was from Guyana. Just on the other side of the river Cuyuni from where her husband came from. She had a lot of gold “between her teeth”, as she said. There was a lot of gold where she came from and the first thing they did with the gold was to have gold crowns fitted on their teeth.

They really appreciated a cold beer because they had no refrigeration and no alcohol in their tiny house. Pedro was only too happy to show us the shipwrecks with the biggest lobsters, 5 pounds was the limit we set, as the bigger ones were less good to eat.

After a few days, we continued to Curacao. https://en.wikipedia.org/wiki/Curaçao

As we checked in with the harbor captain, the officer asked me a lot of questions about a boat or ship that had disappeared. Did I see anything? A fire?, A flash on the horizon?, Flares? Smoke? Debris floating on the surface? Did we hear anything on the radio? Call for help? Conversations? Did we hear an explosion?

We had not seen or heard anything.

The day after, we anchored in Piscadero Bay a few miles to the west of the harbor. The next morning early there was a man on the beach shouting: “Hey, I want to talk with you”. I rowed over to the beach with the skiff.

The man introduced himself as first as a reporter, then as an insurance investigator, and asked the same questions all over.

I told him I had already answered all the questions at the harbor captain and no, I did not know anything and had seen nothing.

Only years later I heard about the vessel with the clandestine shipment of gold that had sunk nearby.

Still there. Believe you’re the only one who knows the truth about that, very valuable information, and straight forward salvage, if found?

 

[treasurediver]

About 2 years later, an owner of the clandestine gold shipment turned up. He had seen the vessel sinking before his own eyes. Now he wanted to recover the gold.

He had a chart with an X marking the spot. “Easy salvage job. Just put a “Jim Suit” (armored diving suit) down and pick up the gold”.
I was contracted to manage the salvage operation.

There was nothing quick and easy. It turned into a very long adventure that has still not ended 40 years later. A real "Roller-Coaster."
Friends say I should write a book about it. I wish I was capable of doing that.
I am actively looking for a writer. If any writer reads this, please contact me.

 

[creatmosfairy]

Hello,

what´s going on in the Royal Africa Company ships between 1660-1752 ? These ships bring the gold nugget from Guinea and the Goldcoast back to England. The London Mint House stamped from this gold the Guinea gold coins. The RAC have the monopol of the gold trade from the westcoast of Africa.

-How many ships from the RAC were wrecked or lost ?
-How many contrabant/smuggling gold was on board of each ship back to England ?

 

[Oceanscience]

There was the Royal African Company and then there were the "interlopers" The interlopers were unlicenced ships competing with the RAC.
And then there were the pirates that specialized in capturing all African traders.

Below are links to the pirate Jean Hamlin and his ship the "La Trompeuse" and the slave ship "Henrietta Marie", both in the waters of the USA.

Pirates and slave ships

Slave ships often became victims of pirates. If we follow the routes of the slave ships we will find pirate ships and if we search for pirate ships we find slave ships. Here is a deposition, made by a ship's carpenter who became a pirate and jumped ship, when he got his first chance do do it.

www.treasurenet.com

Wrecking history of the Bahamas

Over the years, I anchored a few times near that spot. Under the ledges it is not uncommon to find a snapper or Nassau grouper. While looking for our dinner under one of the ledges, once I looked up and saw the radio mast just above. Immediately I remembered Mr. Engels description of the radio...

www.treasurenet.com

 

[marconi beach]

There was the Royal African Company and then there were the "interlopers" The interlopers were unlicenced ships competing with the RAC.
And then there were the pirates that specialized in capturing all African traders.

Below are links to the pirate Jean Hamlin and his ship the "La Trompeuse" and the slave ship "Henrietta Marie", both in the waters of the USA.

Pirates and slave ships

Slave ships often became victims of pirates. If we follow the routes of the slave ships we will find pirate ships and if we search for pirate ships we find slave ships. Here is a deposition, made by a ship's carpenter who became a pirate and jumped ship, when he got his first chance do do it.

www.treasurenet.com

Wrecking history of the Bahamas

Over the years, I anchored a few times near that spot. Under the ledges it is not uncommon to find a snapper or Nassau grouper. While looking for our dinner under one of the ledges, once I looked up and saw the radio mast just above. Immediately I remembered Mr. Engels description of the radio...

www.treasurenet.com

The Whydah was a slave ship when it was captured by pirate Sam Bellamy and then wrecked on Cape Cod in April, 1717.

 

[creatmosfairy]

Los Roques ,Venezuela shipwreck:

Rio Tamego dos Reis

This ship were wrecked on her way from Oporto to Rio . What was on board of this ship at the time of her sinking: coins/ merchant trading goods?
Basic: Lloyd`s List published the information at July02., 1773. LL locate the wrecksite at Cape Roque near Pernambuco

 

[Blak bart]

You guys seen my avatar ? You guys like that Brazilian/Portuguese gold ? How about Portuguese gold, minted in Rio !!

like I said in some other threads....fisherman catch stuff, and we travel to exotic and remote locations to hunt down the big female blue Marlin when it's spawning time !! I don't make the final decisions on our destination, but my suggestions of fishing locations are taken seriously into consideration. So....wow, what a coincidence that I might suggest a location to fish from that has treasure history !! And wouldn't it be cool to connect with other treasure/shipwreck enthusiasts and develop a network of friends and connections throughout these locations ? And gosh....what if I treasure hunted on my free time, and weather lay days from fishing !!

well, as a single, solo operator most times, and only a kyak slung on deck what could I actually accomplish? Pick, pick, pick !! The fishermans motto !! Keep trying, don't give up, and return to check your spots, even when there not producing.....eventually with constant picking, and checking.....mother nature, and lady luck will give you some wins, and the fish/GOLD will be there !! Pick, pick, and pick away.....a gold coin here and there, a few 8 reales at the other "fishing" spot !! And never needing a mag, or any special gear....hard to belive just what is still sitting in 15 feet or shallower water,......and right up to the dry land survivors camps.....which I've found can be more lucrative and easier to find and recover than the actual shipwreck off shore. Imagine how many survivors perished on deserted rocks and cays with the cream of there wealth with, or on (jewelry) them !!
Don't get me wrong I would love to be involved in the big stuff, but dang....you'd be surprised how nice it is to just pick away at the spots here and there like a fisherman does....it only takes a few fish to satisfy the hunger for awhile.....until your hungry again and need a couple more fish.

 

[creatmosfairy]

Wow, that´s an amazing coin. Nice to see this one.

One man found, after a big storm, in 2007 in an salvage campsite in Europe 25 silver and gold coins from the 18.th century. The survivors salvaged a lot of the boxes with coins and short time later ,special divers arrived at the scene of the wrecksite and recovered more boxes. 92% of the cargo manifest were offically recovered. But not contrabant coins etc. and 8 % of the offical coins were lost in the wreck , now today. At the beach, were also found metall objects and other trash from the salvage crew. The man don´t used any kind of detecting gear, he found the coins only with his eyes an grabbed up the coins with his hands. Today, there was a lot more coins inside this wreck. It is maximum 250 meter away from the beach and under control of the naval forces.

 

[creatmosfairy]

Los Roques shipwreck:

I mean Cape Roque in Northern Brasil and not in Venezuela! Wikipedia: Cabo de Sao Roque

 

[treasurediver]

Los Roques ,Venezuela shipwreck:

Rio Tamego dos Reis

This ship were wrecked on her way from Oporto to Rio . What was on board of this ship at the time of her sinking: coins/ merchant trading goods?
Basic: Lloyd`s List published the information at July02., 1773. LL locate the wrecksite at Cape Roque near Pernambuco

There are many shipwrecks on the reefs of Cape Roque, because the reefs are far out in the ocean, where you do not see the coast yet.
A ship coming from Portugal would have trade goods that were much in demand. These trade goods could be sold in Brazil with several 100% profit. Paid in gold.

 

[creatmosfairy]

C.R.Boxer: Brazilian Gold and British Traders in the first half of the eigtheenth century

Page 467:
-Between March 25., 1740 and June 8., 1741 the Falmouth packet service boats carried Brazilian gold to a total of 447,347 Pounds
-while in the calender year 1759: 787,290 Pounds and 1760 :1,085,559 Pounds

Page 470:
_the fleets from Rio and Bahia were naturally the richest, but those from Pernambuco and Para usually had some gold on board and often considerable amounts

Page 471:
-After 1761 shipments of Brazilian gold to Portugal fell off markedly
-The figures for the gold imported into Falmouth from Lisbon by the packet service boats are extant for the years 1761-1769.They show that nearly a million in sterling was remitted in each of the last four years and exceptional sum of 1,186,714 Pounds in 1764


Page 469:
-as late as 1770, when the production of Brazilian gold was decline

How many ship were wrecked or lost on this trading routes between Lisbon and Falmouth/London ?