July 1715. A mighty fleet sets sail from the port of Havana for Spain, its hulls gleaming in the sun. Eleven ships, laden with riches from the New World, were meant to replenish the treasury of King Philip V. But the Caribbean Sea had other plans. Just days into the voyage, the squadron was struck by a violent storm that had formed near the Bermuda Islands. One of the captains, Miguel de Lima, later recalled how the wind grew stronger by the minute, and massive waves tossed the heavy galleons onto the shoals like kindling. Sails were torn to shreds, and control was lost. Nature proved stronger. That fateful night, almost all the ships sank, taking with them the lives of more than a thousand sailors and passengers. The few who survived found themselves stranded on deserted islands, where they faced hunger and clashes with local tribes.
More than three centuries have passed, and now, in 2025, this maritime tragedy has resurfaced. A team of treasure hunters from 1715 Fleet-Queens Jewels, the company holding exclusive rights to explore the remains of that very fleet, announced a stunning find. From the ocean floor off the coast of Florida, they recovered over a thousand gold and silver coins. The preliminary estimated value of the discovery exceeds one million dollars. These are not just metal bars. Most of the so-called ‘pesos,’ or ‘pieces of eight,’ minted in Mexico, Peru, and Bolivia, are remarkably well-preserved. The dates and marks are clearly visible, which is of great value to historians and numismatists.
The operation to recover the treasures took place in an area aptly named the ‘Treasure Coast’. Modern search efforts differ significantly from the pirate raids of the past. They are conducted under strict state oversight and in compliance with all archaeological standards. Company specialists meticulously study the seabed, piecing together evidence from the colonial era. Each such discovery is not only a commercial success but also an opportunity to touch living history and reconstruct details from days long gone.
The legend of the boundless riches of the ‘Silver Fleet’ has stirred adventurers’ imaginations for centuries. It received its first real confirmation only in 1928, when William Beach discovered the remains of the ship ‘Urca de Lima’—the very vessel commanded by the surviving captain. From that moment, a real hunt began. Amateur historians, modern treasure hunters like Kip Wagner, and serious researchers compared fragments of information from the Archivo General de Indias in Seville with actual finds. In 2010, a company led by Brent Brisben took up the baton, having purchased the license from its predecessors. Their first major success came in 2015, and the current treasure recovery is further proof that the ocean has yet to reveal all its secrets.
The current haul, impressive as it may seem, is only a small fraction of what the fleet once carried. According to experts, the total value of the cargo, adjusted for today’s money, could have reached $400 million. This means that untold treasures still lie at the bottom of the Caribbean Sea, awaiting discovery. Every new coin raised from the depths not only enriches collections but also proves that in this turbulent region—where trade routes crossed and passions flared for centuries—reality, confirmed by archaeology, is often far more astonishing than the boldest fiction.
