Colombia looks to recover billions in treasure from ‘holy grail of shipwrecks’

For those interested in treasure salvages, here's what could be the granddaddy of all:

https://www.theguardian.com/world/2023/dec/21/san-jose-shipwreck-recovery-treasure-colombia-spain

 

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That's quite the archeological find. I can't on-board the reasoning of NOT retrieving the salvageable cargo.

Leaving everything undisturbed under the sea permits zero appreciation of the ship, its cargo, its treasure, design, heritage or cultural significance. Bringing whatever can be reclaimed to the surface gives generations of historians and anyone interested, the opportunity to study and observe the artifacts, and yes, the treasure too, that would otherwise just lay at the bottom of the sea.

They don't want any profiteering? Fine. Then set the legal guidelines for what can and cannot be done with the salvage, including the treasure.

 

I don't like this stuff of leaving these treasures under the sea so not a single person would see any of it. Thanks for posting.

 

I guess one standard argument is that future generations will have archaeological technology that lets them record more information about the wreckage, information that would be lost or destroyed by today's retrieval methods. The sheer value of a treasure weighs against preservation, though.

 

I've read about the treasure fleet of 1715 wreck. It's spread over miles all over the ocean. There's nothing historical to be gained by leaving it there. Most likely only the treasure and metal survive.

 

My question is, if your not going to salvage it, why try to find it?

 

History,
I really don't like this qoute.
"But critics say the raising of the San José, sunk in battle with British ships in 1708, might damage the country’s cultural heritage"
What does this say?
I believe the fight is between salvagers and the government.
It's been a stalemate in the court for years.

 

So, it was their stuff. The Spanish came and took it from them and put it on a boat that sunk. This is Colombia’s cherished cultural history? A Spanish ship with their stolen loot on the bottom of the ocean. Geez.

 

Well, 1) The Colombians at the time were the Spanish and 2) most if not all of the treasure would have come from outside of Colombia so it's not like Colombia itself really has a strong connection to this.

 

Treasure, Oh yeah !

 

Humans have been diving to recover treasure for a very long time. For instance after the El Capitana ran aground and sank off the coast of Ecuador in 1654, the Spanish authorities used divers to recovery some the treasure. That treasure was eventually loaded on the Maravillas. Unfortunately that ship sank at the Little Bahama Bank in 1656. So, some of the coins salvaged from that wreck are actually twice salvage.

I don't know how effective a salvage of the San Jose would be at depth of 3,100 feet. True, this isn't anywhere near the depth of Titanic, but still it would be a formidable challenge nonetheless.

 

When it comes to sunken treasure man will go to great lengths to do what ever
it takes to make it happen, with the technology available with advanced ROV.S
and such it’s definitely doable.

 

They had no problems with salvaging SS-CA treasure at 8K ft. So this ship is only at 3K ft. and 20-30 Billion gold coins/ silver/ jewels/ artifacts on board. Get the loot salvaged/ carefully conserve the coins/ artifacts/ gems. Then/ Spain should get 50 percent \ their ship/ treasure. Salvagers get other half/ Colombia has 0 rights. Then hopefully the huge influx of MS cobs to current market/ prices will fall so that we the average collectors can afford these gold coins for our selves. Leaving it on ocean bottom is insanity or better stupidity at its best. Britain probably owes Spain a huge sum for what their privateers/ Royal Navy plundered from 1570-1815.

 

I agree that if and when the coins salvaged from the San Jose enter the market, prices should become more affordable for some pretty rare types, especially the escudo coins. However I do think there will be a "floor" price for these coins, much in the way it has been for the tens of thousands of Athenian owls that have been sold over recent years. I think as treasure coins, and gold in particular, public demand will be strong. The slabbing services will likely also have a field day marketing them.

 

About one escudos/ I got crazy and bid way to high in Cayon Auction for this Felipe III AV Escudo 1608-C Segovia Mint/ EBC+
Hammer price 2950.00

 

That's a beautiful example. I don't have any Spanish milled escudos of that period (17th century), just a couple 8 escudos hammered coins (Philip IV and Charles II). Over the years I considered acquiring an example from the 17th-early 18th centuries, but the prices were out of my range and now they are in low earth orbit!

 

In the Cayon book they have the AV 100 Escudos from Felipe III and IV both struck in Segovia. The Tauler & Fau "Oro Medieval Spain" book has the incredible AV 50 Doblas from Pedro IV/ Enrique IV/ these are 198g/ 85 mm. stunning medieval artworks.
Cover book AV 50 Enriques
2/3 AV 100 Ducatos Karl V/ Joanna

 

The Colombians can recover the treasures and put them on display in a museum and if there's far too many gold coins, sell some to us collectors and that can help finance the building of a museum

 

They (Colombians) are also trying to find Pablo Escobar's vast horde of gold bars/ no luck yet. Maybe he stashed it on Oak Islands treasure chamber. Yamashita's "Lost gold of WW2" maybe there too.....

 

Wondering if ngc etc would see some of the new coins being certified. Maybe it'll cause a price drop for them.Been looking for a decent example within my price range but to expensive for now still.