The wreck is 200 feet off the beach, more or less. I don't disagree with you about dredging being a waste of taxpayer dollars, but they need to keep the inlet channel deep enough to allow the larger vessels or just about any sailboat entry and exit to the inlet/Atlantic.
When they dredged away the sandbar in 1997, which was on top of part of the wreck, they threw old Spanish silver all over the beach, from the inlet all the way down to Carlin Park, which is where I found my coins on November 17th of that year.