Gold coins worth $1M from 300-year-old Spanish shipwreck are recovered after 'salvager illegally sold them'

A horde of stolen gold coins originally linked to the 1715 Fleet Shipwrecks that were  found on Florida's Treasure Coast have now been recovered by federal agents. 

The Florida Fish and Wildlife Conservation Commission announced they were able to find 37 gold coins collectively worth over $1million that had been previously stolen on November 26. 

On July 31, 1715, 12 Spanish ships laden with silver and gold were making the voyage from Havana, Cuba to Spain when a devastating hurricane sunk 11 of those carriers into the water off the Florida coast and left about 1,000 sailors dead. 

Over 300 years later, Eric Schmitt and other members of his family were employed as contracted salvage operators for the 1715 Fleet - Queens Jewels in 2015.

The group managed to discover a treasure trove of 101 gold coins from the wrecks - out of which 51 were reported correctly and adjudicated but 50 coins were not. 

In the past nine years, officials conducted numerous search warrants and the unaccounted coins were recovered from peoples' homes, safe deposit boxes and auctions. 

Ultimately, investigators from the FWC launched an in-depth probe in collaboration with the FBI after surprising evidence emerged on June 10, 2024. 

The evidence and its subsequent investigation concluded that Eric had allegedly conducted illegal sales of multiple stolen gold coins between 2023 and 2024.

Detectives had found five such coins with a Florida-based auctioneer that had allegedly been sold by Eric, according to the FWC's statement. 

Advanced digital forensics also allegedly linked Eric to a photograph of the stolen coins taken at the Schmitt family condominium in Fort Pierce after identifying metadata and geolocation data. 

Furthermore, he is accused of placing three of the stolen gold coins placing on the ocean floor in 2016 so they could be found by new investors of 1715 Fleet - Queens Jewels. 

'The recovery marks a major milestone in a long-standing investigation into the theft and illegal trafficking of these priceless historical artifacts.

'The FWC has worked closely with historical preservation experts, including Mel Fisher-Abt to authenticate and appraise the recovered artifacts. 

'The investigation also involved partnerships with the 19th and 9th Judicial Circuits, resulting in charges for dealing in stolen property against Eric Schmitt.

'As required by state and federal law, the recovered artifacts will be returned to their rightful custodians. 

'FWC investigators are committed to recovering the remaining 13 stolen coins and bringing those involved in their illegal sale to justice,' the agency said in a lengthy statement. 

FWC Investigator Camille Soverel further added: 'This case underscores the importance of safeguarding Florida's rich cultural heritage and holding accountable those who seek to profit from its exploitation.'

All the stolen coins were minted in Lima, Peru, between 1697 and 1712, and included multiple denominations - the largest of which weighed an ounce. 

One such recovered coin is a one-of-a-kind gold piece from 1709 that was mistakenly hammered with a silver coin stamp.

The piece, referred to as a 'Holy Grail coin,' was reclaimed after being illegally sold at auction for about $50,000, officials told McClatchy News.

The remaining 13 missing coins have yet to be found, but the search continues for the missing gold. 

The 1715 Fleet - Queens Jewels, LLC describes itself as the 'largest permitted historic shipwreck salvage operation in Florida waters'.