Latest news with #GloccaMorra
Yahoo
12 hours ago
- Science
- Yahoo
The Battle Over the World's Richest Shipwreck and its $16 Billion Treasure
Researchers have finally confirmed that a long-sunken hulk off the coast of Colombia is none other than the San José. The legendary Spanish galleon, which vanished beneath the waves of the Caribbean 300 years ago, has been dubbed the 'world's richest shipwreck.' Now the big question is, who does the treasure belong to? The San José was first launched in 1698 and was the flagship of the Spanish treasure fleet. In 1708, it was carrying gold and jewels from Peru to Spain that would help fund the War of Spanish Succession. As the ship approached Cartagena, Colombia, British naval forces attacked. During the melee, the gunpowder stores on the San José ignited, sinking the ship. Nearly 600 crew members perished as the ship went down with its vast cargo of gold, silver, emeralds, pearls, and other treasures. For centuries, the wreck remained lost beneath the sea. Two groups claim they discovered the famous shipwreck. U.S. salvage company Glocca Morra (now Sea Search Armada) insists that it first found the location of the ship in 1981. Then, in 2015, the Colombian navy, working with marine archaeologists, located the actual remains of the galleon using underwater drones. At a depth of around 600m, it is too deep for divers to access. This made it hard for researchers to confirm that it is definitely the San José. The Colombian navy has been using remotely operated vehicles to survey the wreck. The key to proving that it is the San José has been the gold coins scattered on the ocean floor. The lead author of a new study, Daniela Vargas Ariza, explained how these coins allow dating of the wreck and its demise through a process of elimination. These particular coins, known as "cobs," show mint marks from Lima, dated 1707. They also have castles, lions, Jerusalem crosses, and other Spanish imperial symbols imprinted on them. 'The finding of to a vessel navigating the Tierra Firme route in the early 18th century," said the paper. "The San José galleon is the only ship that matches these characteristics.' This Holy Grail of shipwrecks is now at the center of a legal battle. Colombia claims it is the sole owner of the wreck under its national heritage laws. They argue that as the ship lies within its territorial waters, it belongs to them. But others want to stake their claim over the ship and its $16 billion of treasure. Spain contends that the San José is a Spanish ship and so it is Spanish state property. Sea Search Armada says it was the first to identify the general location of the wreck in the 1980s and so should receive some of the compensation. Indigenous communities from countries like Peru and Bolivia are also asserting claims to the treasure since most of it was pillaged from them when they were under Spanish colonial rule. After hearings in Colombia and the U.S., the decision about who owns the most valuable shipwreck in the world will lie with the Permanent Court of Arbitration at the Hague.
NZ Herald
2 days ago
- Business
- NZ Herald
Wreck with $35b of treasure ‘confirmed' as Spanish galleon, says researchers
Gold and silver coins, pearls and gems, claimed to be worth as much as $35 billion in current prices, were aboard the San Jose. Coins found on the wreck are under investigation in Colombia. Photo / ARC-DIMAR via Antiquity The ship's sinking dented the Spanish effort in the war, which ended with Britain gaining Gibraltar, Newfoundland and Nova Scotia. Academics in Colombia now claim to have confirmed that the wreck found in 2015 is the San Jose. Using underwater drones, they photographed cargo scattered on and around the wreckage. Analysis of the images found silver coins, minted in 1707 with the hallmarks of the mint at Lima, Peru, among the debris. Other finds included Chinese porcelain from the Kangxi period (1662-1722) and inscriptions on cannons that dated to 1665. The finds suggest the wreckage is of a ship that sank in the early 18th century. 'This body of evidence substantiates the identification of the wreck as the San Jose galleon, a hypothesis that has been put forward since its initial discovery in 2015,' the academics said. Analysis of images found silver coins among the wreckage. Photo / ARC-DIMAR via Antiquity. 'The finding of cobs [Spanish-American dollars] created in 1707 at the Lima Mint points to a vessel navigating the Tierra Firme route in the early 18th century. The San Jose Galleon is the only ship that matches these characteristics. 'This find presents a rare opportunity to explore an underwater archaeological site and deepen our understanding of colonial maritime trade and routes.' The analysis will likely deepen a battle over the legal ownership of the wreckage. Claims have been made by Colombia, Spain, Peru, indigenous communities in the area, descendants of miners who dug up the treasure, and Glocca Morra, the treasure-hunting firm, which says it found the wreck as far back as 1981. Glocca Morra's new owners, Sea Search Armada, insist that the galleon was found within a mile or two of the co-ordinates of its 1981 discovery. The company, which is claiming almost $18b, is also challenging a 2020 law that deemed everything on the ship was Colombian Government property. The researchers added: 'Coins are crucial artefacts for dating and understanding material culture, particularly in shipwreck contexts. 'Hand-struck, irregularly shaped coins – known as cobs in English and macuquinas in Spanish – served as the primary currency in the Americas for more than two centuries.' An 8-escudos cob of 1707, based on high-resolution in situ photographs from the 2022 archaeological campaign. Photo / Antiquity The findings follow previous carbon-dating analysis of the wreckage that indicated it was approximately 300 years old. The ship's cargo will not be recovered from the seafloor until the wreckage is 'fully characterised' using 'non-invasive surveys'. With the galleon lying several hundred metres below the surface, it is too deep for human exploration. The study is published in the journal Antiquity.
Yahoo
2 days ago
- General
- Yahoo
Sunken ship with £16bn of treasure ‘found in Caribbean'
For centuries, a £16-billion treasure trove of gold, silver and emeralds was lost beneath the waves of the Caribbean. But now researchers believe they have identified the 'holy grail of shipwrecks'. The rich treasures of the Spanish galleon San Jose appeared to have been gone forever after they were sunk by the Royal Navy in 1708. A squadron commanded by Charles Wager, who would go on to serve as the First Lord of the Admiralty, intercepted the treasure fleet near Baru Island, off Cartagena, Colombia, and attacked, detonating its powder magazines and sending it to the seabed. The treasure was being transported from Peru to Spain to fund the War of the Spanish Succession against Britain and its allies. Gold and silver coins, pearls and gems, claimed to be worth as much as £16 billion in current prices, sat aboard the San Jose. The ship's sinking dented the Spanish effort in the war, which ended with Britain gaining Gibraltar, Newfoundland and Nova Scotia. Academics in Colombia now claim to have confirmed that a wreck found off the South American country's coast in 2015 is the San Jose. Using underwater drones, they photographed cargo scattered on and around the wreckage of a ship found on the seafloor near Baru Island in 2015. Analysis of the images found silver coins – minted in 1707 with the hallmarks of the mint at Lima, Peru – among the wreckage. Other finds included Chinese porcelain from the Kangxi period (1662-1722) and inscriptions on cannons that dated to 1665. These finds suggest the wreckage is of a ship that sank in the early 18th century. 'This body of evidence substantiates the identification of the wreck as the San José Galleon, a hypothesis that has been put forward since its initial discovery in 2015,' the academics found. 'The finding of cobs created in 1707 at the Lima Mint points to a vessel navigating the Tierra Firme route in the early 18th century. The San José Galleon is the only ship that matches these characteristics. 'This find presents a rare opportunity to explore an underwater archaeological site and deepen our understanding of colonial maritime trade and routes.' The analysis will likely deepen a battle over the legal ownership of the wreckage. Claims have been made by Colombia, Spain, Peru, indigenous communities in the area, descendants of miners who dug up the treasure, and Glocca Morra, the treasure-hunting firm, which says it found the wreck as far back as 1981. Glocca Morra's new owners, Sea Search Armada, insist that the galleon was found within a mile or two of the coordinates of its 1981 discovery. The company, which is claiming £7.9 billion, is also challenging a 2020 law that deemed everything on the ship was Colombian government property The researchers added: 'Coins are crucial artefacts for dating and understanding material culture, particularly in shipwreck contexts. 'Hand-struck, irregularly shaped coins – known as cobs in English and macuquinas in Spanish – served as the primary currency in the Americas for more than two centuries.' The finds follow previous carbon dating analysis of the wreckage that indicated that it was approximately 300 years old. The ship's cargo will not be recovered from the seafloor until the wreckage is 'fully characterised' using 'non-invasive surveys'. With the galleon lying several hundred metres below the sea surface, it is too deep for human exploration. The study is published in the journal Antiquity. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Time of India
3 days ago
- Business
- Time of India
Mystery of ship lost 300 years back with £16 billion worth treasure solved
The wreck of the Spanish galleon San José , believed to hold treasure worth an estimated £16 billion, has been definitively identified by researchers in Colombia after its discovery in 2015, sparking a legal battle over ownership involving multiple parties. The San José, which sank in 1708 during a battle with the Royal Navy, was carrying gold, silver, and emeralds from Peru to Spain to finance the War of the Spanish Succession. Academics confirmed the identification of the wreckage near Baru Island, off the coast of Cartagena, through artifacts such as coins minted in 1707 at the Lima Mint, Chinese porcelain, and cannons with inscriptions dating back to 1665. The discovery has ignited a fierce ownership row involving the governments of Colombia, Spain, and Peru, indigenous communities, descendants of the miners, and the treasure hunting company Glocca Morra, now Sea Search Armada. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo The San José was dubbed the 'holy grail of shipwrecks'. The galleon was lost for more than 300 years beneath the waters of the Caribbean. Live Events In 2015, an expedition using underwater drones captured images of the wreckage on the ocean floor. Experts now believe the mystery is finally solved. The finding of cobs created in 1707 at the Lima Mint points to a vessel navigating the Tierra Firme route in the early 18th century. Photographs of the wreck show silver coins minted in 1707 at the Lima Mint, Chinese porcelain from the Kangxi period (1662–1722), and cannons inscribed with markings dating back to 1665. Researchers say these discoveries can only point to one ship: the San Jose. The confirmation of the wreck's identity has reignited a fierce ownership row involving multiple parties, each laying claim to the sunken treasure. The governments of Colombia, Spain and Peru, indigenous communities, and even the descendants of the miners who unearthed the gold and silver in Peru have all staked a claim. Also at the centre of the controversy is Glocca Morra , a treasure hunting company that says it discovered the wreck as far back as 1981. Its successor, Sea Search Armada, is now demanding £7.9 billion and says the current find is within 'a mile or two' of its original coordinates. The firm is also contesting a 2020 Colombian law which states that everything aboard the galleon is the property of the Colombian government. The San Jose's sinking was a significant blow to Spain's war effort in the 18th century. The War of the Spanish Succession eventually ended with Britain gaining control of Gibraltar, Newfoundland and Nova Scotia.
