Gold coins worth $1M from 300-year-old Spanish shipwreck are recovered after ‘salvager illegally sold them’

A horde of stolen gold coins originally linked to the 1715 fleet shipwrecks found on Florida’s Treasure Coast have now been recovered by federal agents.

The Florida Fish and Wildlife Conservation Commission announced that on November 26 they had found 37 gold coins with a combined value of more than $1 million.

On July 31, 1715, 12 Spanish ships laden with silver and gold were making the voyage from Havana, Cuba to Spain, when a devastating hurricane sank 11 of those ships in the water off the coast of Florida, killing approximately 1,000 sailors brought.

More than 300 years later, Eric Schmitt and other members of his family were working as contract salvage operators for the 1715 Fleet – Queens Jewels in 2015.

The group managed to discover a treasure trove of 101 gold coins from the wrecks – 51 of which were correctly reported and graded, but 50 coins were not.

Over the past nine years, officials have executed numerous search warrants and recovered the missing coins from people’s homes, in safe deposit boxes and at auctions.

Ultimately, FWC investigators, working with the FBI, launched an in-depth investigation after surprising evidence emerged on June 10, 2024.

The evidence and subsequent investigation concluded that Eric allegedly committed illegal sales of multiple stolen gold coins between 2023 and 2024.

The evidence and subsequent investigation indicate that Salvager Eric allegedly committed illegal sales of multiple stolen gold coins between 2023 and 2024.

Detectives had found five such coins at a Florida auctioneer that the FWC believed Eric had sold. statement.

Advanced digital forensics also allegedly linked Eric to a photo of the stolen coins taken at the Schmitt family condominium in Fort Pierce after identifying metadata and geolocation data.

Additionally, he is accused of placing three of the stolen gold coins on the ocean floor in 2016 so they could be found by new investors from 1715 Fleet – Queens Jewels.

‘The recovery marks a significant milestone in a long-running investigation into the theft and illicit trafficking of these priceless historical artefacts.

“The FWC worked closely with historic preservation experts, including Mel Fisher-Abt, to authenticate and assess the recovered artifacts.

“The investigation also involved partnerships with the 19th and 9th Judicial Circuits, which resulted in charges of trafficking in stolen property against Eric Schmitt.

“As required by state and federal law, the recovered artifacts will be returned to their rightful custodians.

“FWC investigators are committed to recovering the remaining 13 stolen coins and bringing to justice those involved in their illegal sale,” the agency said in a lengthy statement.

The Florida Fish and Wildlife Conservation Commission announced that on November 26 they had found 37 gold coins with a combined value of more than $1 million.

On July 31, 1715, 12 Spanish ships laden with silver and gold were making the voyage from Havana, Cuba to Spain, when a devastating hurricane sank 11 of those ships in the waters off the coast of Florida.

FWC investigator Camille Soverel added, “This case underscores the importance of protecting Florida’s rich cultural heritage and holding accountable those who seek to profit from its exploitation.”

All of the stolen coins were minted in Lima, Peru, between 1697 and 1712, and included multiple denominations, the largest of which weighed one ounce.

One of those recovered coins is a unique gold piece from 1709 that was accidentally hammered with a silver coin stamp.

The piece, dubbed a “Holy Grail coin,” was recovered after it was illegally sold at auction for about $50,000, officials said McClatchy News.

The remaining 13 missing coins have yet to be found, but the search for the missing gold continues.

The 1715 Fleet – Queens Jewels, LLC describes itself as the “largest authorized historic shipwreck salvage operation in Florida waters.”