First Treasure From The "$17-Billion-Dollar" Gold-Laden Shipwreck Has Been Recovered

The very first artifacts from the “holy grail of shipwrecks” have finally been brought to the surface after lying on the seabed for over 300 years. Among the treasures recovered from the ship are golden coins, pieces of fine porcelain, and a massive cannon that looks as if it came straight out of a pirate’s tale.

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The relics were recovered as part of a tantalizing research project on the San José, the shipwreck of a giant galleon of the Spanish Navy that sank in 1708. It lies in the Caribbean Sea at a depth of 600 meters (1,968 feet), not far from the coast of Cartagena, Colombia. The exact location is said to be a closely guarded secret – and for good reason.

It’s commonly cited that $17 billion worth of relics are among its ruins, although some believe that figure is overinflated. Nevertheless, it is known that the ship was loaded with gold, silver, emeralds, and other treasures when it met its end.

When the wreck was identified in 2015, its potential wealth generated international interest, with the US, Spain, Colombia, Indigenous groups, and private companies all staking a claim.

After a heated “custody battle”, the Colombian government began work to explore the shipwreck in 2024 in a project called "Toward the Heart of the San José." Together with scientists and marine archaeologists, they have sent remotely operated subs down to the underwater site, revealing the presence of gold coins.

Now, the second phase of the project has begun, involving the recovery and the direct analysis of the archaeological objects. The team has announced they have captured at least five objects from the wreck: a large cannon, a beautifully decorated porcelain cup, and three macuquinas (coins used in Spanish America).

Researchers are going to closely study these objects, using a variety of techniques to reveal how and when they were made. From this, they hope to uncover information about the production technologies of the time and trade routes during the Spanish colonization of the Americas.

It could also explain how and why the San José galleon sank. It’s well-established that it was attacked during an ambush by the British Navy amidst the War of Spanish Succession. One long-standing theory suggests a cannonball hit the powder magazine, delivering a fatal blow to the ship, but this has never been categorically proven with physical evidence. 

“This historic event demonstrates the strengthening of the Colombian State’s technical, professional, and technological capabilities to protect and promote Underwater Cultural Heritage, as part of Colombian identity and history,” Yannai Kadamani Fonrodona, the Colombian Minister of Cultures, Arts, and Knowledge, said in a statement.

As for those billions upon billions in rumored treasure, there’s still no word. However, with the investigation now underway, you can expect much more news about the San José in the months ahead.