Ruling on the 1804 Spanish Galleon Sunken Treasure

By ⋅ February 23, 2012 ⋅ Post a comment
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Odyssey discovered hundreds of silver coin concretions lying on the seabed at the “Black Swan” site. More than 500,000 silver coins, weighing more than 17 tons, were scattered over the site which comprised an area larger than six football fields. (Photo: Odyssey Marine Exploration, Inc.)

Odyssey discovered hundreds of silver coin concretions lying on the seabed at the “Black Swan” site. More than 500,000 silver coins, weighing more than 17 tons, were scattered over the site which comprised an area larger than six football fields. (Photo: Odyssey Marine Exploration, Inc.)

For the Geo Quiz, we are looking for a sunken treasure. The treasure sank in 1804 aboard Spanish galleon.

It was found five years ago by an American salvage company. Some say it was the richest shipwreck find in the history, worth about $500 million.

We want you to name the place where the loaded galleon sank. The wreck was found just off the Spanish coast near the body of water that divides Spain and Morocco. In ancient times, this strait was dubbed the Pillars of Hercules.

Strait of Gibraltar is the answer to the Geo Quiz.

The treasure sunk after the British sunk the Spanish ship and it was found in 2007 by Odyssey Marine Exploration of Tampa, Florida. But since its discovery, Spain has argued that the money is theirs and a US Federal Court ruling declared that the 17 tons of coins belong to Spain.

Anchor Lisa Mullins speaks to Richard Mullins, business reporter for the Tampa Tribune, about the story.

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Discussion

4 comments for “Ruling on the 1804 Spanish Galleon Sunken Treasure”

  • Philip McCleary

    Let me get this right. A ship sunk to the bottom of the ocean and was lost to all for hundreds of years. A great company Odyssey Marine Exploration comes along and recovers it at great expense and then is ordered by a court to turn it over to someone that did not even know they had it. If I was that company I would in the future recover what I could find refuse to disclose where I recovered it from and destroy all evidence of the name of the ship and keep what
    I found. What ever happened to salvage rights?  

    • Anonymous

      Salvage rights like privacy and personal rights are being eroded by the money machines which influence most everything today; IMHO.

  • http://bubbaal.myopenid.com/ BubbaAl

    Salvage rights apparently don’t apply to military vessels.  What I can’t fathom is how Spain could decide to turn around and sue Odyssey — the very company that saved it’s treasures at a cost of nearly half a million (which it can’t recoup, as it’s case was tossed).  Since the coins can’t be insured or sold, I believe that the prediction of Melinda MacConnel, President of Odyssey is correct: “anything found with a potential Spanish interest will be hidden or even worse, melted down or sold on eBay.”

  • http://pulse.yahoo.com/_RVDSUAW67H6UD4J34WCXKOJ2MY coalbanks

    Salvage rights do not include military vessels.