Archaeology & History

Exploration of 'holy grail of shipwrecks' worth $20 billion begins

By T.K. Randall
May 27, 2024 ·  14 comments

The San Jose was sunk by the British in 1708. Image Credit: CC-BY-SA-3.0 / Samuel Scott Discovered in 2015 off the coast of Colombia, the 62-gun galleon San Jose went down on June 8, 1708 along with 600 members of its crew while engaged in a battle with the British during the War of Spanish Succession.

The wreck of the San Jose was a particularly significant find because it was thought to be carrying a treasure trove of gold and jewels worth around $20 billion in today's money.

Unsurprisingly, this has caused quite a lot of disagreement between the Colombian government, the Spanish government and various other third parties over who actually owns the gold.

Despite this, Colombia has since forged ahead with efforts to explore the wreck and to create a detailed map of both the sea floor around it and the treasure that it contains.

According to the Colombian Institute of Anthropology and History, this will involve the use of remote sensors as well as remote-operated underwater drones.To aid in the effort, the whole site has also been declared a protected archaeological area.

While the vessel is certainly of interest to historians, there is little doubt that the $20 billion worth of treasure at the site is the primary driving force behind its expedited exploration.

Previous reports suggested that the Colombian government wants to raise the vessel from the ocean floor before President Gustavo Petro ends his current term in office in 2026.

Whether the country will be able to keep all of the riches inside, however, remains to be seen.

🚨HISTORY: 'Holy Grail' Shipwreck Off Colombia Could Hold an Epic Treasure Worth $20 Billion and 700 Feet Below Water

A wrecked Spanish galleon carrying a booty that could be worth as much as $20 billion (£16 billion) is set to be retrieved from the Caribbean Sea within the... pic.twitter.com/GmYBDdvxff

- Unlimited L's (@unlimited_ls) December 22, 2023

Source: BBC News | Comments (14)

Tags: San Jose, Shipwreck