Is this going to be the biggest treasure found?

[pepperj]

Sunday, December 6, 2015, 2:25 PM - A Spanish galleon that sank off Colombia's Baru peninsula over 300-years-ago has been discovered with what may be the world's largest sunken treasure.
At a press conference Saturday held in the port city of Cartagena, Colombian President Juan Manuel Santos did not disclose the exact location of the San Jose galleon and how it was discovered, calling it a state secret, according to reports.
In June 1708 the ship was carrying 600 people along with 11 million gold coins, silver, gems and jewelry when it was attacked by a British warship and sank to the bottom of the sea. The treasure's value is estimated to be somewhere between $1.5 billion to $17 billion.
Marine experts are calling it the holy grail of Spanish colonial shipwrecks.

 

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[ARC]

Yes.

 

[G.I.B.]

Until the next biggest.

 

[ANTIQUARIAN]

Thanks for sharing this my friend, I'm sure it will be reported in the next issue of Western Eastern Treasures!

Dave

 

[T.C.]

I was readin' in the local rag this morning that, this wreck was found in 1982. It has been tied up in court ever since then. According to the article, maritime law says the finders are entitled to 50 per cent of the wreck. The courts have ruled that the finders only get 5 per cent. That really sucks...

 

[T.C.]

Here's the quote from my local newspaper...

"In 1982, Sea Search Armada, a salvage company owned by U.S. investors including the late Michael Landon and convicted Nixon White House adviser John Ehrlichman, announced it had found the San Jose's resting place 700 feet below the water's surface.
Two years later, Colombia's government overturned well established maritime law that gives 50 percent to whoever locates a shipwreck, slashing Sea Search's take down to a 5 percent "finder's fee."
A lawsuit by the American investors in a federal court in Washington was dismissed in 2011 and the ruling was affirmed on appeal two years later."
Bummer

 

[spyguy]

I've been waiting to hear about this shipwreck finally being found since I first read about it in 'The Treasure Diver's Guide' about 10 years ago. Because of it's extreme depth it presents some formidable deep sea salvage challenges. Not to mention the fact that it's off the coast of a rogue nation like Columbia where 'Columbian Neckties' are as common as a big piles of cocaine. Given the exceptional amount of coins and treasures it was carrying even a finder's fee of 5 % is going to net the salvagers in the hundreds of millions of dollar$.... IF it can all be successfully brought into the light of day from the ocean depths it will make Mel Fisher's Atocha finds look like chump change by comparison. The 1708 San Jose treasure is truly the stuff that the wildest of treasure hunting dreams are made of. It will be interesting to follow developments in this story over the next several years as it unfolds.
HH
-spyguy

 

[pepperj]

There was another wreck that the investment recovery team found and the Spanish Gov't. took the treasure a few years ago claiming it belonged to them. Now I really have to question the legality of where did they get the gold-silver-emeralds and other treasures in the first place? I'm sure most of it wasn't obtained from trading goods-more like trading a plume of smoke and lead or tickling the insides of the owners with the hilt of the sword.