Florida Man Discovers Gold Worth Over $1 Million

Late Monday night it was announced that a Florida man discovered gold artifacts from the wreckage of an old Spanish Fleet. A salvage company that owns the rights to the site where the coins and jewels were found made the announcement.

Fox News reports that the fleet sank in a storm off the Florida coast three centuries ago. The artifacts dscovered by Eric Schmitt are worth approximately $157 million.

The discovery was actually made a month ago, and Brent Brisben of 1715 Fleet — Queens Jewels LLC says it was “particularly hard for the family that found it” to keep it quiet.

Among the discovery was 51 gold coins, 40 feet of chain and a rare coin called a “Tricentennial Royal”, minted for King Philip V of Spain. That coin alone is reported to be worth approximately $500,000.

Under federal and Florida law, up to 20 percent of the treasure will be turned over to the state for display in a museum, while Brisben’s company and the Schmitts will split the remainder.

Photos used in this story courtesy of 1715 Fleet Queens Jewels LLC.