$1M in gold coins stolen after discovery of 1715 shipwreck off Florida recovered

Dozens of gold coins stolen after the 2015 discovery of 1715 shipwreck off the coast of Florida have been recovered after investigators found one of the treasure hunters who made the discovery was allegedly linked to their illegal sale.

Florida Fish and Wildlife Conservation Commission officials announced Tuesday that they've recovered 37 gold coins worth more than $1 million that were stolen after the June 2015 discovery of the 1715 Fleet in the Atlantic Ocean off Fort Pierce.

Members of the Schmitt family, working as contracted salvage operators for 1715 Fleet - Queens Jewels, LLC, uncovered a treasure trove of 101 gold coins from the wrecks off Florida’s Treasure Coast.

In collaboration with the FBI, we have successfully recovered 37 gold coins stolen from the 1715 Fleet shipwrecks. These coins are collectively valued at over $1 million! #CaseOfTheWeek pic.twitter.com/9irWvzGohz

— MyFWC (@MyFWC) November 26, 2024

The maritime tragedy had involved 11 Spain-bound galleons that were lost during a hurricane.

After the find, 51 of the coins were reportedly correctly, while 50 coins weren't disclosed and were stolen, FWC officials said.

The FWC and FBI launched an investigation that found evidence earlier this year that tied Eric Schmitt, a member of the treasure hunting family, to the illegal sale of multiple gold coins, officials said.

Authorities began executing search warrants and recovered coins from homes, safe deposit boxes and auctions.

One Florida-based auctioneer had unknowingly purchased five of the coins from Schmitt, authorities said.

It was also discovered that Schmitt took three of the stolen gold coins and placed them on the ocean floor in 2016 to be found by the new investors of 1715 Fleet - Queens Jewels, LLC, FWC said.

Florida Fish and Wildlife Conservation Commission

Authorities said they used advanced digital forensics to identify metadata and geolocation data linking Schmitt to a photograph of the stolen coins taken at the Schmitt family condominium in Fort Pierce.

Schmitt is now facing charges of dealing in stolen property, FWC officials said. he faces a fine and up to 15 years in prison on the three counts he's facing, officials said.

In 2010, the US District Court appointed 1715 Fleet Queens - Jewels LLC as substitute custodian with the exclusive salvage rights to the 1715 wrecks, officials said.

Federal and state laws protect gold coins, and the 1715 Fleet treasure is highly regulated and has strict accountability for recovery efforts.

Investigators have been working with historical preservation experts to authenticate and appraise the recovered artifacts, and are still searching for the remaining 13 gold coins that were stolen.

"This case underscores the importance of safeguarding Florida’s rich cultural heritage and holding accountable those who seek to profit from its exploitation," said FWC Investigator Camille Soverel.