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Yahoo
2 days ago
- General
- Yahoo
Gold coins confirm ‘world's richest shipwreck' is 18th century Spanish galleon
The yearslong international fight to lay claim to the suspected 'world's richest shipwreck' likely won't end anytime soon, especially after a research team's most recent conclusions. Experts have confirmed that dozens of gold coins scattered across the ocean floor off the coast of Colombia belonged to the San José, an ill-fated Spanish treasure galleon that sank over 300 years ago during a battle with British warships. The findings were published on June 10 in the journal Antiquity. In June 1708, the San José and a fleet of 17 other vessels departed the capital of Colombia for Europe laden with gold, silver, and uncut gems. The 64-gun, three-masted Spanish flagship alone carried as much as 200 tons of treasure with a modern value estimated as high as $17 billion by today's standards. On June 8, however, the galleon had the misfortune of running across a squadron of five British warships during the War of Spanish Succession. The San José and two of its fellow ships subsequently engaged in a cannon battle with their enemies while most of the fleet retreated to Cartagena. In the end, neither side made off with the flagship's riches—the San José's stores of gunpowder eventually ignited, causing the vessel to sink to the bottom of the Atlantic. It would take almost 310 years before salvagers located the legendary ship's remains. In 2015, Colombia's government announced the potential rediscovery of the San José in the Caribbean near Cartagena, but it would take another few years to mount expeditions to confirm the theory. Since 2021, the Colombian navy and archeological experts have overseen four noninvasive field examinations using remotely operated vehicles (ROVs). The results of their analysis published in Antiquity make it clear: the wreck (and all its treasure) are from the San José. The key pieces of evidence were dozens of rough gold coins sitting on the ocean floor. The treasure had an average diameter of 1.3 inches and each weighed around one ounce. Using high-definition photography, the team initially analyzed the bounty. Further imaging showcased the designs on either side of the coinage. One side featured a variation on the Jerusalem cross (one large cross framed by four smaller crosses) and a shield detailed with lions and castles. On the other side, the coin illustrated the 'Crowned Pillars of Hercules above the waves of the sea.' According to the study's authors, those waves were a trademark sign of the Lima Mint. The images were so detailed that experts even noted the distinct engravings made by an assayer, the person responsible for testing the gold coins' purity. Taken altogether, the coins must have been aboard the San José. '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,' Daniela Vargas Ariza, a maritime archeologist and the study's lead author said in a statement. Along with the tons of additional currencies, gems, and historical artifacts, the San José represents one of the most lucrative shipwreck finds in modern history. But who gets to claim it? That question is at the center of a debate that continues to rage between the governments of Colombia and Spain. For its part, Colombia hopes to recover and sell some of the treasure to finance a larger effort to salvage the ship—although Colombian law might prohibit such an act. Meanwhile, Spain asserts it is still the rightful owner of the San José and everything on it based on the Law of the Sea. This international convention maintains that all navy wrecks belong to their original country. Unfortunately for Spain, Colombia never signed that agreement and some experts argue the accord is intended for modern warships, not historical wrecks. For now, the fate of the San José remains unclear. But thanks to forensic archeological research and expert analysis, one thing is certain: it is worth quite a bit of bullion.
Time of India
2 days ago
- General
- Time of India
300-year-old mystery of world's most valuable shipwreck solved with San José £16 billion treasure
Beneath the Caribbean waves, the Spanish galleon San José, believed to be carrying treasure for more than three centuries, now estimated at over £16 billion, has been identified by the researchers in Colombia. Discovered in 2015 off the coast of Barú Island near Cartagena, the wreck has long been shrouded in mystery and claims of hidden riches. This historical analysis and underwater archaeology, experts say, there's no doubt: this is the long-lost San José. The identity of the wreck has now been officially confirmed, but the focus now turns to how the treasure will be recovered and who will ultimately control it. According to the reports, the San José was not just a treasure ship, but it was a key player in a geopolitical conflict. Its sinking helped shift the balance of power in the War of the Spanish Succession (1701–1714), a European war sparked by competing claims to the Spanish throne. Spanish warship carrying colonial treasure sunk in 1708 mystery solved The Spanish galleon San José fleet was tasked with transporting valuable cargo from Spain's colonies in the Americas back to Europe. In June 1708, during the height of the War of the Spanish Succession, the ship encountered a British squadron and was attacked off the coast of present-day Colombia. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Husband Leaves Sick Wife For His Mistress. When He Returns For Her Inheritance, She Does This Learn It Wise Undo The ship exploded during the battle and sank to the ocean floor, taking with it 600 crew members and a cargo of gold, silver, and emeralds mined in Peru. These riches were destined to fund Spain's war effort against the Grand Alliance, a European coalition that included Britain. The loss was a devastating blow to the Spanish crown and became one of the most legendary maritime disasters in European history. Decades of shipwreck mystery resolved with key historical artefacts Although the wreck was found in 2015 using underwater drones, it has taken years for scientists and archaeologists to gather enough evidence to confirm its identity. That confirmation came through a detailed analysis of artifacts recovered from the ocean floor: Silver coins minted in 1707 at the Lima Mint in Peru provided critical dating and geographical evidence, tying the cargo to a specific Spanish trade route. Chinese porcelain from the Kangxi period (1662–1722), a common luxury item in colonial trade which was found in abundance, indicating the ship's cargo included exotic goods from Asia via Spanish trade networks. Bronze cannons bearing Spanish royal emblems and markings from 1665 further solidified the ship's origin and era. World's most valuable shipwreck sparks a global ownership dispute Due to the size and presumed value of its treasure, the San José has long been referred to as the 'holy grail of shipwrecks.' It was rumored to be carrying over 200 tons of gold, silver, and emeralds, making it arguably the most valuable shipwreck ever discovered. The cargo was intended to help Spain fight a war that would reshape Europe's colonial empires. Its rediscovery has not only thrilled historians and treasure hunters but also reignited one of the most complex legal and diplomatic disputes in maritime history. Now that the wreck has been definitively identified, a multi-party battle over ownership has emerged. At the heart of the issue is the value of the treasure and competing claims from nations, companies, and communities: According to the ET reports, tThe discovery ignited a fierce ownership by: Colombian Government: Under a 2020 law, Colombia claims full ownership of the wreck and all its contents, arguing it lies within its territorial waters and forms part of its national heritage. Spanish Government: Spain argues that as a state-owned military vessel, the San José and its contents remain Spanish property under international maritime law. Peruvian Government: Since much of the treasure was mined in Peru by Indigenous and enslaved labor, Peru contends it has a moral and historical right to a portion of the treasure. Indigenous Communities and Descendants of Miners: Some Indigenous groups and families in Peru are also demanding recognition and reparations for the exploitation that made the treasure possible. According to the ET reports, Sea Search Armada (formerly Glocca Morra): A US treasure-hunting firm that claims to have discovered the wreck back in 1981, the company is demanding a £7.9 billion payout, stating that the current find lies within two miles of their originally reported coordinates. Also Read| Meet the London doctor who's 41 but biologically 24; here's his life longevity secrets revealed with 3 core supplements
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.
