In a tale that sounds ripped from a pirate novel, federal agents have recovered 37 stolen gold coins, worth over $1 million, linked to the legendary 1715 Fleet Shipwrecks off Florida’s Treasure Coast. The Florida Fish and Wildlife Conservation Commission (FWC) announced the breakthrough in a case that blends history, betrayal, and high-stakes treasure hunting.
On July 31, 1715, a fleet of 12 Spanish ships, brimming with silver and gold, set sail from Havana, Cuba, bound for Spain. But fate had other plans. A ferocious hurricane tore through the convoy, sinking 11 of the vessels off Florida’s coast and claiming the lives of nearly 1,000 sailors. The lost treasure, scattered across the ocean floor, became the stuff of legend, sparking centuries of fascination and salvage operations along what’s now known as Florida’s Treasure Coast.
Fast forward to 2015, when Eric Schmitt and his family, working as contracted salvage operators for 1715 Fleet – Queens Jewels, LLC, struck gold—literally. The team unearthed 101 gold coins from the sunken wrecks, a dazzling haul from a bygone era. But while 51 coins were dutifully reported and processed, 50 others mysteriously vanished, setting the stage for a modern-day treasure heist.
For nine years, authorities chased leads, executing search warrants and recovering the missing coins from homes, safe deposit boxes, and even auction houses. The investigation took a dramatic turn on June 10, 2024, when new evidence surfaced, pointing directly to Eric Schmitt. The FWC, in collaboration with the FBI, uncovered allegations that Schmitt had been illegally selling the purloined coins between 2023 and 2024.
Among the discoveries were five coins traced to a Florida auctioneer, allegedly sold by Schmitt himself. Advanced digital forensics further tightened the noose, linking Schmitt to a photograph of the stolen coins taken at his family’s condominium in Fort Pierce. Metadata and geolocation data embedded in the image provided damning evidence of his involvement. But the audacity didn’t stop there—investigators allege Schmitt planted three of the stolen coins on the ocean floor in 2016, orchestrating their “discovery” to lure new investors to 1715 Fleet – Queens Jewels.
The recovered coins, minted in Lima, Peru, between 1697 and 1712, are more than just gold—they’re irreplaceable pieces of history. Among them is a one-of-a-kind 1709 coin, mistakenly stamped with a silver coin die, dubbed the “Holy Grail coin” by experts. This rare artifact, illegally sold at auction for approximately $50,000, was reclaimed in the sting, underscoring the cultural and historical significance of the find.
The FWC worked closely with historical preservation experts, including Mel Fisher-Abt, to authenticate and appraise the recovered artifacts. The agency’s efforts, in partnership with the 19th and 9th Judicial Circuits, have led to charges against Schmitt for dealing in stolen property. As required by law, the recovered coins will be returned to their rightful custodians, preserving Florida’s rich maritime heritage.
While 37 of the 50 missing coins have been recovered, 13 remain at large, and the FWC vows to continue the search. “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. The agency’s commitment to recovering the remaining coins and bringing those involved to justice remains unwavering.
The 1715 Fleet – Queens Jewels, LLC, describes itself as the largest permitted historic shipwreck salvage operation in Florida waters. Yet, this saga reveals the darker side of treasure hunting, where greed can tarnish even the most glittering discoveries. From a hurricane-ravaged fleet to a modern-day betrayal, the story of these gold coins is a reminder that some treasures carry a price far beyond their weight in gold.