Question about treasure find

Ok gang, I have a question for all of you. There is a question here, but I want to give some background info first....

I was catching up reading some of my coin mags last night and caught a comment in the letters to the editor section about the salvage company that found this sunken ship that Spain has claimed. From what I understand, whenever a treasure is found, the company that finds it has to file a claim within the court system. It was at this time that several entities claimed title to the treasure. Spain was one of those entities. Spain argued that the treasure belonged to them. Apparently, two US courts have sided with Spain. This court battle has been going on for a few years now and during this time, it appears that the salvage company went and brought up some or all of the treasure. The US courts are now saying that they have to turn this treasure over to Spain. This is the part where it gets a bit murky for me. I believe I read this somewhere, but can't confirm this......that Spain does not have to reimburse the salvage company a dime for their efforts. So basically, they spent millions of dollars salvaging a treasure that they can't keep. My questions is whether or not this is true? And if so, what would prevent the salvage company from pushing the treasure off the back of their ship and telling Spain to go get it themselves.

I know nothing about this subject, but always enjoy reading articles about these treasure finds and articles about this particular find keep popping up here and there.

 

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This sounds like Odyssey Marine Exploration, Inc. [OMEX] and the Black Swann. There are some threads here where I've posted about them and this case. I also like these topics, in a trivial manner of reading, and have followed this one quite a bit as it's been very much in the media the past several years. They have a documentary that airs on Discovery from time to time.

 

yeah when is treasurequest coming back on discovery? havent seen it in like a year?

 

This kind of thing really irks me. The salvage company does all the research and the so called sovereign nation steps in and lays claim. Really edited me off....


Doug will probably edit this comment in the morning but I don't give a flip.

 

Found within 200 nautical miles of Spain. I thought I understood that any wrecks found within 200 nautical miles opens up all kinds of legal challenges?

 

A few years ago the fed came into the Long Beach show and confiscated some of the material from the SS Central America wreckage. Never did hear how that ever ended. http://www.coinclub.com/wwwboard/messages/28467.html

 

This is the Odyssey Marine Exploration YouTube Channel

 

I believe the root of the confiscations in this reference may be of a different nature.

 

Believe it or not, I have a friend that got together with some people on a found wreck off the coast of Argentina. Long story short it made him a millionaire, and he spent the better part of 8 years in court and spent about a million in court costs. He lives in Marana Az and is a good guy, but that experience changed him pretty drastically.

 

Really, why can't Spain just reimburse the salvage company and give a fair share of what's left over. Why spend all that money on lawyers?

If it were me I'd dump it overboard and say go get it your self. Easy to say if I didn't put in all that hard work or have coins in hand.

 

I would be willing to bet that there are many things they want just besides the coins.

Sometimes it just amazes me that people cannot understand that it is only a secret if you are the only one that knows.

 

When discovering a treasure, I am sure location is key....(ie. Is it in international waters or territorial waters?, etc) But what is also important is how the ship went down. There was some disagreement as to how the ship went down. Did it go down during a battle? Did it go down during a storm? These were the questions that have been presented and are in debate.

 

Odyssey did discreetly remove many buckets of coins by private jet back to the US until the Spainish authorities caught on to their find. They then made salvage a nightmare for them, boarded their boats, blocked them in at dock, etc. Much of it is detailed in their documentary. The BBC has a lot of articles about the case since then as well some South American countries also petitioned the courts for possession citing that Spain illegally removed the precious metals from their countries in the new world.

 

My thoughts exactly! Lets share and all be freinds. I think that this is what the Odyssy group suggested, but it was turned down. Spain wants it all....FREE!

 

I guess Spain are looking for a bailout from the sea... :whistle:

 

Because Spain doesn't have to. Do you think, if given the same circumstances, the United States Government would conduct themselves any better? No.

 

Because, it seems, they can.

 

Ohhh the irony....centuries of it in fact...

 

It is my understanding that all sunken vessels and their cargo are property of their original owners and even diving to the vessel without permission is trespass and removal of any items is theft. England also enforces this on every vessel too as I believe does France. The U S courts made arrangements in the case of the Atocha, I believe. I think it has to do with the governments being continuations of those in power at the time ? Also is the exact location of the vessel, whether it's location was known prior, etc. About all I know is that when it comes to Maritime Law, is it's very confusing. Like being in a boat under sail has the right away, Unless it is able to manuever out of the way of collision when another vessel can't. Then Port and Starboard passage might be superceded by windage, etc. Go figure ? I don't think licensed captains really understand much of it either.

 

"South American countries also petitioned the courts for possession citing that Spain illegally removed the precious metals from their countries in the new world"

I forgot about this aspect of the case.

Spain did plunder this treasure from the indigenous people of the Americas and should return it from whence it came. *******s.

I hope the south American countries get their fair share also.
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