A family finds gold in Florida worth $300,000, but, based upon previous lawsuits over sunken treasure, it’s possible Spain could nab their golden booty.
As previously reported by The Inquisitr, the Schmitts are the family who found gold in Florida.
The sunken treasure was recovered off the coast of Fort Pierce. The family finds gold through their company they call Booty Savage. So far they have found 64 feet of gold chain, five gold coins, and a gold ring.
Queens Jewels is the name of the company that owns the rights to dive for sunken treasure in the area. Booty Savage is one of 15 subcontractors operating in the area. As such, they will receive 20 percent of everything found by the Schmitt family.
Last month, they recovered 51 gold coins worth $250,000 alone. Brent Brisben, co-owner of Queens Jewels, estimates that $175 million of the projected $600 million in sunken Spanish treasure is still remaining to be found.
But even as the family finds gold that’s where potential Spanish lawsuits come into play. The sunken treasure is coming from 11 Spanish ships wrecked during a hurricane in 1715. Last year, there was a lawsuit between deep sea salvage company Odyssey Marine Exploration and Spain over 594,000 gold and silver coins recovered in the wreck of a Spanish ship. Spain they should be given the gold back because they considered the coins and other artifacts as part of their Spanish heritage. The five year lawsuit resulted in $500 million of sunken treasure being returned to Spain at the order of Federal judges and the US Supreme Court.
As the family finds gold worth $300,000, if Spain sues, should the finders of sunken treasure be allowed to keep their booty?