Latest news with #WaroftheSpanishSuccession
Daily Record
a day ago
- General
- Daily Record
Shipwreck carrying £16bn found in Caribbean - but who should own 300 year old treasure?
The San Jose is a Spanish galleon that was sunk in 1708 by the Royal Navy, carrying a serious amount of treasure A shipwreck believed to contain one of history's hugest bounties of treasure- amounting to around £16 billion- has been confirmed by researchers, sparking a fiery legal battle over who should own the cash. The Spanish galleon San Jose is packed with gold, silver and emeralds, and it had been lost beneath the Caribbean waters for more than 300 years. But the location of this long-lost ship has now reached the surface, as academics in Colombia have now definitively identified the wreckage. A wreck found near Baru Island, off the coast of Cartagena, in 2015, has now been confirmed as the legendary ship that sank in 1708 following a fierce battle with the Royal Navy, according to The Telegraph. Now known as the "holy grail of shipwrecks" for its bountiful riches, the San Jose was transporting treasure from Peru to Spain to finance the Spanish side of the War of the Spanish Succession. But on its journey, the vessel was intercepted by a British squadron led by Charles Wager, who later became First Lord of the Admiralty. During the clash, the ship's powder magazines detonated, sending it and its valuable cargo to the murky depths, reports the Express. Finding the ship had been deemed a lost cause until an expedition in 2015 used underwater drones to capture images of the wreckage on the seabed. Now, experts believe that the mystery has finally been solved after 300 years. "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 concluded. "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 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." But as the discovery makes headlines, a legal row has ensued on where (and with whom) the treasure belongs. Photographs of the undersea wreck show dazzling artefacts including silver coins minted in 1707 at the Lima Mint, exquisite Chinese porcelain from the Kangxi period (1662-1722), and ancient cannons emblazoned with markings tracing back to 1665. Colombia, Spain and Peru are all gunning for the treasure, with each nation laying historical claims over the sunken bounty that dates back centuries. Indigenous groups along with descendants of the miners who originally extracted the gold and silver from Peruvian soil also demand recognition and rights to the wreck's riches. Adding to the high seas drama is Glocca Morra, a determined treasure-hunting outfit asserting that it pinpointed the wreck years ago, as early as 1981. The enterprise's modern-day incarnation, Sea Search Armada, is seeking a whopping £7.9 billion, claiming that the current discovery falls within "a mile or two" of where they first detected something in the waters. A 2020 Colombian statute is also standing firm in its declaration that all galleon-bound remnants firmly belong to the state, a regulation that other treasure seekers firmly oppose. The sinking of the San Jose was a major setback for Spain's war effort in the 18th century. The War of the Spanish Succession concluded with Britain taking control of Gibraltar, Newfoundland and Nova Scotia, but the legendary treasure remained concealed. Now, after centuries submerged, the riches of the San Jose might finally be revealed - but only if an agreement can be reached on who will take ownership of the treasure. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
NDTV
2 days ago
- General
- NDTV
Lost Ship Carrying $16 Billion Treasure Confirmed As "World's Richest Shipwreck", Sparks Ownership Battle
Researchers have confirmed the discovery of the San Jose, a Spanish galleon shipwreck believed to hold one of history's greatest lost treasures, valued at around $16 billion. The find has sparked a multi-billion-pound legal battle over ownership of the gold, silver, and emeralds on board, which had lain undisturbed in the Caribbean waters for over 300 years, the Telegraph reported. Colombian scholars have confirmed that the wreck discovered off the coast of Cartagena in 2015 is indeed the legendary San Jose galleon, which sank in 1708 during a fierce battle with the Royal Navy. The ship, dubbed the "holy grail of shipwrecks," was carrying treasure from Peru to Spain to fund the War of the Spanish Succession when it was intercepted by British forces led by Charles Wager. As per The the San Jose galleon met its end when its powder magazines exploded during the battle, sending the ship and its treasure to the ocean floor. After being lost for centuries, an expedition in 2015 used underwater drones to locate the wreckage, and experts are now confident that the identity of the ship has been confirmed. "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 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," they concluded. 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. Who Owns The Treasure Now? The discovery of the San Jose galleon's treasure has sparked a heated dispute over ownership, with multiple parties vying for the claim. The governments of Colombia, Spain, and Peru are all staking their claims, while indigenous communities and descendants of Peruvian miners are also seeking a share. Additionally, the treasure hunting company Sea Search Armada, formerly known as Glocca Morra, claims a portion of the treasure, citing their earlier discovery of the wreckage in 1981. However, Colombia disputes this claim, and a $10 billion lawsuit is ongoing, adding complexity to the already contentious issue of who should rightfully own the treasure.
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
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.
