Colombian researchers publish ‘strongest evidence yet’ in Antiquity journal that legendary wreck discovered in 2015 is indeed the fabled vessel carrying 200 TONS of gold, silver and emeralds
The legendary San Jose galleon – dubbed the “holy grail of shipwrecks” and carrying treasure worth an estimated £16 BILLION – has finally been definitively identified more than 300 years after it sank in a blazing inferno off the Colombian coast.
In a breakthrough discovery published Tuesday in the prestigious journal Antiquity, Colombian academics have provided the strongest evidence yet that underwater wreckage discovered in 2015 is indeed the fabled Spanish treasure ship that went down with 589 souls aboard.
High-resolution images captured by robotic submarines 1,970 feet beneath the Caribbean surface have revealed dozens of gold coins dated 1707 – just one year before the galleon’s dramatic demise – bearing distinctive Jerusalem crosses and the crowned Pillars of Hercules.
The 150-foot, 64-gun warship was blown apart during a fierce cannon battle with British warships on June 8, 1708, taking with it a king’s ransom in gold, silver and emeralds from Spain’s South American colonies that could be worth up to £16 billion in today’s money.
THE SMOKING GUN
The breakthrough came through painstaking analysis of gold “cobs” – rough, hand-struck coins – scattered across the seabed among Chinese porcelain, bronze cannons and the everyday belongings of the doomed crew.
Lead researcher Daniela Vargas Ariza, from Colombia’s Naval Cadet School and National Institute of Anthropology and History, declared: “The finding of cobs created in 1707 at the Lima Mint points to a vessel navigating the Tierra Firme route in the early 18th century. The San Jose Galleon is the ONLY ship that matches these characteristics.”
Using underwater robots equipped with high-definition cameras, researchers captured images revealing:
- Gold coins averaging 1.3 inches in diameter
- Weight of approximately 27 grams (1 ounce) each
- Jerusalem crosses – one large cross surrounded by four smaller ones
- Shields decorated with castles and lions of Castile and León
- The crowned Pillars of Hercules above stylized waves unique to Lima
- The letter “L” for Lima, “8” for denomination, and “707” for the year 1707
200 TONS OF TREASURE
The San Jose’s legendary cargo is said to include:
- 11 million gold and silver coins
- 200 tons of gold, silver and uncut gemstones
- Emeralds from Colombian mines
- Chinese porcelain from the Kangxi dynasty
- An intact Chinese dinner service
- Bronze cannons dating to 1665
The treasure was being rushed back to Spain to finance King Philip V’s war effort in the War of Spanish Succession when disaster struck.
DEATH IN THE CARIBBEAN
On that fateful June day in 1708, the San Jose was leading a treasure fleet of 18 ships from Portobelo, Panama, to Cartagena when they encountered a British squadron commanded by Commodore Charles Wager – who would later become First Lord of the Admiralty.
The three-decked galleon, bristling with 64 guns and carrying 600 men, put up a fierce fight. But during the heat of battle, British cannon fire found its mark – igniting the ship’s powder magazines in a catastrophic explosion.
Of the 600 souls aboard, only 11 survived the inferno. The rest went down with the ship, along with a fortune that could have changed the course of European history.
It makes it very touchy because one is not supposed to intervene in war graves,” Stanford University archaeologist Justin Leidwanger told Live Science about the sensitive nature of the wreck.
LEGAL BATTLE OF THE CENTURY
The confirmation of the San Jose’s identity has reignited a fierce international legal battle over who owns the legendary treasure:
COLOMBIA claims the wreck lies in its territorial waters and forms part of its national heritage. President Gustavo Petro has vowed to recover artifacts for a dedicated museum.
SPAIN insists the galleon and its cargo remain Spanish state property under international maritime law, as naval vessels belong to their original nation regardless of age.
SEA SEARCH ARMADA – American treasure hunters who claim they found the wreck in 1981 – are demanding £7.9 billion, saying the latest find is “just a mile or two” from their original coordinates.
BOLIVIA’S INDIGENOUS GROUPS from Potosí argue the treasure was mined by their enslaved ancestors and should be returned to them.
THE CHAGOSSIANS – wait, wrong story.
HIGH-TECH TREASURE HUNT
The wreck sits at a crushing depth of 600 meters (1,970 feet) in pitch-black waters off Baru Island, near Cartagena. Since its discovery in 2015, Colombia has conducted four non-invasive surveys using state-of-the-art technology:
- Remotely operated vehicles (ROVs) with high-definition cameras
- 3D reconstruction technology
- Photogrammetric surveys
- Digital magnification revealing minute details on coins
This case study highlights the value of coins as key chronological markers in the identification of shipwrecks,” Vargas Ariza explained. “This find presents a rare opportunity to explore an underwater archaeological site and deepen our understanding of eighteenth-century maritime trade and routes.”
TREASURE OR TRAGEDY?
While treasure hunters salivate over the billions in gold, UNESCO has warned Colombia against commercially exploiting what they call an invaluable archaeological site.
Allowing the commercial exploitation of Colombia’s cultural heritage goes against the best scientific standards and international ethical principles,” the UN cultural agency stated in 2018.
Colombian Culture Minister Juan David Correa insists: “This is an archaeological wreck, not a treasure. This is an opportunity for us to become a country at the forefront of underwater archaeological research.”
WHAT HAPPENS NEXT?
Colombia plans to begin recovering artifacts as early as April 2025, weather permitting, using robotic submersibles to delicately extract items from the surface of the wreck.
But with multiple nations and organizations staking claims to the treasure, any recovery efforts are likely to be tied up in international courts for years – if not decades.
The study’s authors emphasize this is “only the first step in a long-term project” with no immediate plans for excavation until the entire site is fully documented.
As one maritime archaeologist put it: “After 300 years on the seabed, the San Jose can wait a little longer.”
THE HOLY GRAIL REVEALED
The positive identification of the San Jose represents one of marine archaeology’s greatest triumphs. After centuries of legends, false claims and wild speculation, science has finally confirmed the location of what many call the world’s richest shipwreck.
But whether its fabulous treasure will ever see the light of day – and who will claim it – remains a mystery as deep as the Caribbean waters that have guarded this “holy grail of shipwrecks” for more than three centuries.
One thing is certain: the 589 sailors who went down with the San Jose that June day in 1708 could never have imagined their tragic fate would still be making headlines 317 years later.
