A Trove of Gold Coins Stolen From 300-Year-Old Florida Shipwrecks Has Been Recovered by Investigators

Officials have recovered a cache of coins that was stolen nearly a decade ago from 18th-century shipwrecks off Florida’s coast. According to the Florida Fish and Wildlife Conservation Commission (FWC), the hoard is worth more than $1 million.

The coins belong to the wreckage of the 1715 Fleet, a group of 11 Spanish ships tasked with retrieving silver and gold from the Americas. The vessels, loaded with treasure, set sail for Spain on July 24, 1715. But just days later, they were caught in a hurricane and sank off the eastern coast of Florida—an area now called Treasure Coast.

In 2015, contracted divers from the company Booty Salvage—owned and operated by the Schmitt family—recovered 101 gold coins from the wreck site, according to a statement from the FWC. Only 51 of the coins were reported, while the other 50 were stolen.

This summer, investigators learned that Eric Schmitt was allegedly connected to recent illegal sales of gold. They then launched an “in-depth probe,” and they’ve since recovered 37 of the coins from private residences and safe deposit boxes. Five of the coins were surrendered by a Florida-based auctioneer, who had purchased them from Schmitt without realizing they were stolen.

“This case underscores the importance of safeguarding Florida’s rich cultural heritage and holding accountable those who seek to profit from its exploitation,” says Camille Soverel, an investigator with the FWC, in the statement.

The Schmitt family discovered the coins in 2015. As CBS News’ Vladimir Duthiers reported at the time, “For the Schmitts, treasure hunting is the family business, and business is good.”

“Mostly what we find is garbage on a daily basis—beer cans and lead sinkers and bullets,” Schmitt told the broadcaster. “The more we do this, the bigger the finds we make, so I kind of less believe in luck and more believe in our hard work.”

The Schmitts had been contracted by a company called 1715 Fleet-Queens Jewels, which is the United States District Courts’ “custodian and exclusive salvaging company” of the historic shipwrecks, per a statement. Florida’s shipwrecks are protected by the law, and it’s illegal to privately excavate them without authorization.

The company says it was “shocked and disappointed by this theft and has worked closely with law enforcement and the state of Florida regarding this matter.”

The 37 recovered coins were made in Lima, Peru, between 1697 and 1712, according to McClatchy’s Mark Price. The cache’s largest coin weighs an ounce, and its most valuable is a “one-of-a-kind” gold coin made in 1709 that had mistakenly been hammered with a silver coin’s stamp. Before authorities confiscated it, the rare coin had been illegally auctioned for around $50,000.

Officials say they’re committed to recovering the 13 stolen coins still at large and “bringing those involved in their illegal sale to justice.” Schmitt has already been charged with dealing in stolen property.

When the 1715 Fleet set sail, it had been aiming for “safety in numbers” to get its large treasure haul back to Spain, as coin expert Chris Arbutine tells WFLA News’ Marilyn Parker. He adds that there are likely still many coins among the wrecks.

“It shows you that you could be the next lucky person,” he says. “But [you’ve] got to abide by the rules and regulations.”

Sonja Anderson | READ MORE

Sonja Anderson is a writer and reporter based in New York City.