World

How Much Is All the World’s Sunken Treasure Worth?

Worth of Sunken Treasure Worldwide Estimated at $60 Billion

Sunken Spanish ship, the Nuestra Senora de las Mercedes. (Photo via Popular Mechanics)

With the recent sinking of a luxury cruise liner — the Costa Concordia — off the coast of Tuscany and treasure hunter Greg Brooks stating he thinks he has located the S.S. Port Nicholson, which is rumored to have $3 billion of platinum bars on board, people‘s thoughts have been turning toward what is buried at the bottoms of the world’s oceans.

This has got Popular Mechanics thinking too: how much sunken treasure is there worldwide? The answer is not straight forward — as you might expect — but one estimate is upwards of $60 billion.

Popular Mechanics first addresses the issue of the number of known sunken ships? It reports NOAA’s Maritime Heritage Program Director, James Delgado, as saying there are probably a million. On the flip side, historian Amy Mitchell-Cook at the University of West Florida says there really isn’t an accurate way to estimate the number of shipwrecks as the records are most likely incomplete.

So how about a dollar figure? For this, Popular Mechanics spoke with a shipwreck hunter at Mel Fisher’s Treasures in Key West. Sean Fisher says based on his company’s analysis of historical records, there could be as much as $60 billion under water. Fisher, whose specialty is Spanish ships transporting wealth from the Americas to Europe, said that some of these ships alone could have had billions.

As an example, Popular Mechanics reports that Spain just finished bringing up $500 million in treasure from a Spanish ship that sank in the early 1800s. The tale of ownership with regard to the treasure on this ship specifically — the Nuestra Señora de las Mercedes – is currently unfolding. Although it was found by a company based in the United States, it lost claim to the treasure to Spain. Just this week, the dredged up treasure was all set to be flown back to Spain from Tampa’s MacDill Air Force Base where it was being held. But at the last minute the Peruvian government made a claim for it. Some hold that Peruvian merchants had owned the coins. The U.S. Supreme Court urged that the treasure not be moved to give Peru time to appeal but the Spanish government went ahead with moving the treasure today.

“Peru is making the same arguments that have been rejected at every level of the U.S. courts,” said James Goold, a Washington attorney who has represented the Spanish government throughout. “There’s absolutely nothing new in it.”

The Associated Press contributed to this report. 

Comments (58)

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  • lessoneleg
    Posted on February 25, 2012 at 6:03pm

    this really is one of the most strange stories to come around for a long time. Let’s put this into context. Spain sends conquistadors to the new world. They kill off indigenous peoples, steal precious articles, melt down the artifacts, stamp the coins with the Spanish kings emblem. Then ship it off to Spain.
    Along comes a hurricane or a British convoy of Navy vessels. Bad things happen to Spain, and the ship goes down. So let’s get this straight here at this point. South American precious items stamped by Spain goes down, two hundred years later gets found. Pulled it up, and the international courts rule in favor of the Spain conquistadors taking South America’s treasures to Spain.
    this is truly bizarre yet expected by the international courts who look at the New World exactly as that exploitive territories ready for the taking by the Old World. Nothing has changed in over two hundred years.

    Report Post » lessoneleg  
  • AnAmerican111
    Posted on February 25, 2012 at 5:01pm

    What happened to:
    “Finders Keepers…Loser Weepers!” ?
    Screw the Spanish! Keep the cash!!!

    Report Post »  
    • ehbardin
      Posted on February 25, 2012 at 5:37pm

      Believe it or not, but because of a painting stolen by the Nazis in WWII, and some big wig democrat donors claim to the painting, which is held by Spain. The salvagers and rightful owners of the treasure (Odyssey Marine Exploration) were screwed out of the treasure because of illegal deals made by Hillary and the State Department along with Holder and the DOJ. LOOK IT UP.

      What Hillary and Holder have done is not only criminal; it is unprecedented in any legal case or lawsuit of this type in modern history.

      This Regime Must Be Stopped, Arrested, and then Shot for Treason!!!

      Report Post »  
    • BarackStalin
      Posted on February 25, 2012 at 6:36pm

      Hey what’s the big deal about rampant CORRUPTION AND TYRANNY?

      They are handing out free rubbers. You should be grateful.

      Report Post » BarackStalin  
    • markchristopher
      Posted on February 25, 2012 at 7:50pm

      If you find a treasure, don’t tell the world. Someone will surely lay claim to it, falsely.

      Loose lips sink ships.

      Report Post » markchristopher  
  • BurntHills
    Posted on February 25, 2012 at 3:48pm

    it used to be, if you took on the dangers underwater, if you brought it up, YOU owned it.

    time to keep ALL the greedy governments OUT of the grab.

    Report Post » BurntHills  
  • Vanquisher
    Posted on February 25, 2012 at 3:00pm

    Since we’re on the subject of wealth, I would like to point out that as a nation, our sovereign wealth is beyond even reckoning. If you add up the value of just our oil, gas and coal in barrel of oil equivalent
    (BOE), is is easily in the 200 trillion dollar range and that is conservative based only on what is known to exist. That seems like a lot! But wait, that isn’t even close to scratching the surface when it comes to other materials (precious, rare earths, fissionable, raw materials, land, sea, fresh water, aggregate,
    etc.). Start thinking of the total value now and it really is beyond calculation. So when you start to get down and depressed and thinking that our country is doomed to ruin and financial slavery, look up and look around. Our debt as a nation is daunting make no mistake, but in the scheme of things it is really almost insignificant. We as a nation really need to wise up to this fact and start to figure out how we can use our resources wisely, yet take into consideration what is around us. Just the Thorium in the ground alone has enough energy potential to power our country for several thousand years based on current technology. This is not Pollyanna thinking. This is scientific fact. We only need to be willing to bring it to fruition. It is there for the taking. Cheer up America, our best days can still be if we just start being resourceful and stop being our own worst enemy. This is where China excels at being what is is.

    Report Post »  
    • ChiefGeorge
      Posted on February 25, 2012 at 4:43pm

      Debt is an illusion and so is wealth! There is enough for everyone as far as farmable land, enough dwelling space, enough water, enough food and enough air. But greedy governments keep people under their strcit control to have the masses only to be servants. God made a beautiful and resource rich planet but we are to greedy to share it with everyone. The Native Americans had no concept of land ownership until the Europeans came along, now the land is all goobled up to be held by the richest and most powerful also to be set aside for government use only.

      Report Post » ChiefGeorge  
  • KyleD
    Posted on February 25, 2012 at 2:36pm

    I thought there was a maritime salvage law stating that the finder of the treasure got to keep the treasure. If anyone can just claim a treasure after somebody found it nobody is going to go through the trouble of finding sunken treasure anymore, which is a very expensive endeavor.

    Report Post »  
  • LB
    Posted on February 25, 2012 at 1:39pm

    What if the Indians want all the land back? We might have to move to Newts moon world

    Report Post » LB  
  • dadsrootbeer
    Posted on February 25, 2012 at 1:37pm

    Hey Obammy, how about getting me my fair share. Need some of that income redistribution.

    Report Post » dadsrootbeer  
  • cranberry
    Posted on February 25, 2012 at 11:54am

    Does anyone really care what its all worth? What I care about is treasure hunters who go out and find treasure, and have to give it back to the government to which it originally belonged! what the WHAT? Heard that this week on the news.
    If someone finds something buried, it’s theirs. Because if they hadn’t, the ocean would still own it. Doing nobody any good.

    Report Post » cranberry  
    • Conservative Hippy
      Posted on February 25, 2012 at 12:14pm

      What they should have done once the court said they had to give it to Spain is agree to put it back where they found it. At that point Spain would have agreed to pay them a fee for recovering it and storing it.

      Report Post »  
    • BarackStalin
      Posted on February 25, 2012 at 1:47pm

      That is what happens when you allow the PLUTOCRATS and CORPORATIONS to rule over WE THE PEOPLE.

      They win, we lose.

      Report Post » BarackStalin  
  • In a Bunker
    Posted on February 25, 2012 at 11:00am

    Is this part of International Maritime Law? Can anyone speak to this? If this was found within our shores (what is it, 8 miles surrounding the U.S.?) couldn’t the U.S. company who found it, keep it? Frankly, if it were me and I spent all that money retrieving it, I guess I would be melting down that gold and selling it on ebay. This really sounds ridiculous. Who wants to give a socialist country more money? What, so they can pilfer it away to the politicians?

    Report Post » In a Bunker  
    • tmplarnite
      Posted on February 25, 2012 at 11:37am

      It is the 12 mile limit but Governments will change and have, the florida extend the limit to 60 miles just to get Mel Fishers Attocha ship wreck find and made new rules to benefit themselves. The SS Central america used a ‘great’ law gimmick to claim their treasure they brought up piece of the ship ‘first’ then claimed it first… after that the treasure… they beat off all the grabbers, the USA, the states, the university, Lloyds of london, the Catholic church. The Greedy US Gov’t has been locking up major treasure sites by making them National monuments to keep hunters out and the treasure for themselves. President LBJ and ilk Stole $31 Billion in spanish Gold from the white sans missile base a Doc Noss find with trickery and dirty dealing. Check it out: http://lostloot-treasure.com/

      Report Post »  
  • COFemale
    Posted on February 25, 2012 at 10:54am

    The moral to this story is – if you find a ship wreck with treasure keep your mouth shut until you can secure the find permanently on U.S. soil where no one can get too it legally or illegally.

    I believe in Finders Keepers.

    If Peru wanted the coins, they should have sent treasure divers to find it. They are nothing but weasels, claiming something without any of the cost involved to find it. Spain should not have received it either. Now I would have sold it back to Spain for a nice hefty price.

    This guy who says he found the ship with platinum, needs to shut his mouth. European countries are hurting and they will find any way to get free revenue, even if it means stealing it away from you.

    Report Post » COFemale  
    • garylee123
      Posted on February 25, 2012 at 12:37pm

      They did secure the treasure and bring it t the US. This was found by the Odessy. They were held in a Spanish port for six months with no charges. Watch Treasure Quest for the whole story.

      Report Post »  
  • Pokerjoe
    Posted on February 25, 2012 at 10:07am

    I found a penny the other day. Looked all over and could not find the owner. What should I do?

    Report Post »  
  • 9111315
    Posted on February 25, 2012 at 8:53am

    Anything left unclaimed. Once they call off he search, it is fair game to anyone who finds it.

    Oh, I forgot about that nasty 100% tax.

    Report Post »  
  • MMR
    Posted on February 25, 2012 at 8:40am

    The sad thing about the whole thing is that Spain never bothered to look for their sunken ship even though they had some idea where the ship was located. The company that found the treasure, spent 3 million looking for this ship. As soon as they found it, the Spanish made a claim for it and file the suit. While the suit was going on the company was made to spend another 400k to house and maintain the treasure and asked the court that they be at least refunded the 400k. The court gave them nothing. This is what the company officials said, Spain “has failed to consider that in the future no one will be incentivized to report underwater finds, Anything found with a potential Spanish interest will be hidden or even worse, melted down or sold on eBay”

    Report Post » MMR  
    • LauraPZ
      Posted on February 25, 2012 at 9:34am

      Certainly, no-one will be public, about what they find! But- I though that was already understood??
      KEEP YOR MOUTH SHUT, and enjoy your find. It isn’t rocket-surgery, afterall.

      Report Post »  
  • Darla_K
    Posted on February 25, 2012 at 8:16am

    If Spain is so interested in getting their treasure back why aren’t they out there doing the work and finding the sunken treasure? I say finder keepers, loosers weepers, keep your hands off my peepers. Although I have never went looking for sunken treasure I imagine it takes alot of time just to find it and than one has to bring it up. Must be dangerous work. How fast is Spain going to turn this treasure over to Peru if indeed it turns out that they own it? The guy who found the treasure should get half at the very least and hopefully he was able to get some more.

    Report Post » Darla_K  
    • Choctaw25
      Posted on February 25, 2012 at 9:55am

      Darla ??????? DAAAAAAAAA. Have you forgotten that the Spainards are the ones who tried to give the world “green energy” and they lost more jobs than they created and lost millions, upon millions, upon millions of lost revenue because of their stupidity and beliefs.
      Leftist liberal ideas are always failures, so they have to steal the monies of others to keep things afloat.
      Until they run out of “other people’s monies”, they will continue to rape and pilage the rest of us.

      Report Post » Choctaw25  
  • Archstone
    Posted on February 25, 2012 at 7:30am

    I hope they find it. I also hope they hide half of it and report finding only half of what they found. That way when the courts decide it belongs to someone else, their expenses will be covered with a nice cushion for the rest of their lives.

    Report Post »  
  • Itsjusttim
    Posted on February 25, 2012 at 7:16am

    Well gee I don’t know. How come according to Ben Bernanke “Gold isn’t money?” Oh I know why: because money is actually ransom. If you read Leviticus 27, substitute the word “Ransom” in the place of money. Yeah that’s right, the way you tithe with money isn’t what God is talking about. Read the important parts to understand when you read scripture, and not just the scripture your greedy eyes zoom in on. In the beginning of Leviticus 27, God says, “When a man shall make a singular vow, the persons shall be for the Lord by thy estimation.”
    That means when a “Man Spirit” (that be an invisible spirit) marries (that be a singular vow of one wife), the people who make up the wife are value “In soul” by the numbers the Lord says to Moses.
    Of course almost all people think the scriptures refer to the money of men, but it does not.
    And that‘s why at first in the synagogue Jesus wasn’t going to tithe, but he did because the synagogues were controlled by Caesar.
    This is why I don’t tithe, and people should be careful so as to not be blinded by people who try to make you fall backwards, because those people are clinging far too much to Heaven and they will lose Heaven. That‘s why Isaiah said to put the money in the storehouses because God doesn’t give one hoot about how people tithe with the money of men.

    Report Post » Itsjusttim  
  • BehindBlueEyes
    Posted on February 25, 2012 at 5:19am

    If Obama gets 4 more years America will become a sunken treasure.

    Report Post » BehindBlueEyes  
    • Archstone
      Posted on February 25, 2012 at 7:23am

      I’m thinking he deserves life. Oh, you meant- never mind.

      Report Post »  
  • Diane TX
    Posted on February 25, 2012 at 4:18am

    I actually met Mel Fisher in person. He told me – “He who owns the gold, makes the rules.” He also gave me a tiny gold charm necklace. I still have it.

    Report Post »  
    • dr emil shuffhausen
      Posted on February 25, 2012 at 12:04pm

      I met one of Mel Fisher‘s helpers back in the 90’s and he showed me one of his finds. A beautiful gold necklace recovered off the coast of Florida in the 80′s.

      Report Post » dr emil shuffhausen  
    • MDDAWG
      Posted on February 25, 2012 at 1:53pm

      DR EMIL
      I laughed just seeing your screen name. What a hilarious movie.

      Report Post » MDDAWG  
  • marcus_arealius
    Posted on February 25, 2012 at 4:17am

    Rule one of everything “Keep your trap shut”.

    Government thieves are the worst of the worst. At least real thieves do some work. Governments impede efforts to do anything and then show up to steal your efforts if you succeed in spite of them.

    Report Post »  
  • MrMagoo
    Posted on February 25, 2012 at 4:03am

    I hate working for a living on Earth.A measly $62K(paid in worthless paper),when all the riches are in space.

    1 planet away.

    Report Post » MrMagoo  
    • Diane TX
      Posted on February 25, 2012 at 5:01am

      Mr Magoo,

      I earned over twice what you made, but I started my own Company (before the Socialists took over). That was back in the good old days, when one didn‘t have to pay for Betty Sue’s abortion and/or birth control. People just were responsible for what they did. No one had to pay for what others did.

      Now that I am retired from working for a living, i just don’t understand why there is such a big bunch of people that have never worked at anything, yet they expect everyone else to take care of them. Yes, they were born, so was I. I found my way to support myself, without any Government assistance. I have Social Security, but I was forced into it – against my will. I had to pay into it, whether I wanted to or not. Perhaps, I will die before I exhaust what I actually paid into Social Security – maybe not. I am currently free from any life ending diseases. Although, I was recently blind for about two weeks. I can see now.

      All I can say, Mr Magoo, is that everyone has a choice. You can work for someone for a salary, or you can take risks for what you might achieve on your own. Not all risk takers are successful, yet some make it to the top.

      Report Post »  
    • hi
      Posted on February 25, 2012 at 9:39am

      Dianetx
      Or he could run for office and do some legal insider trading.

      Report Post » hi  
  • R.A. Bullseye
    Posted on February 25, 2012 at 3:39am

    I‘m not sure how much it’s worth but I’m sure Obama will find a way to tax it.

    Report Post »  
  • fammus1
    Posted on February 25, 2012 at 2:40am

    A drop in the ocean compared to debt.

    Report Post » fammus1  
  • CatB
    Posted on February 25, 2012 at 2:29am

    The Spanish government should have to at the very least pay a finders fee to those who discovered and brought it up .. otherwise no one will be looking because it doesn’t pay (or they will never report the find) and along with the “loot” at lot of history will be lost or never discovered.

    Report Post »  
    • Gonzo
      Posted on February 25, 2012 at 7:15am

      With modern GPS on every ship, they can’t hide big finds. Governments know who these guys are and track them. They know where every ship on the ocean is. Then there is the problem of selling what you find if you got away with it. It’s rigged in favor of government like everything else on Earth.

      Report Post » Gonzo  
    • Buck Shane
      Posted on February 25, 2012 at 8:56am

      Why does this belong to the Spanish government? Didn’t Spain steal it from the indigenous people? If Spain says it is theirs, shouldn’t they be liable for receiving stolen goods?
      The US government now has it; why not just steal it from Spain? What’s the difference? Or, better yet, let the people who worked for it and found it, keep it.
      No, that’s ridicules – that way no government would own it. What good is it to be the one who makes the rules it you can’t use the rules to take what you want?

      Report Post » Buck Shane  
  • MDDAWG
    Posted on February 25, 2012 at 1:06am

    Just think. If the US governent was able to dig up ALL that sunken treasure, they (the politicians) could cover their deficit spending for about 2 weeks!

    Report Post » MDDAWG  
  • colt6920
    Posted on February 25, 2012 at 12:49am

    Whatever happened to finders keepers???

    Report Post » colt6920  
    • Psychosis
      Posted on February 25, 2012 at 1:00am

      500 million can buy a lot of votes …………..in whatever country that finally receives it

      they are, as you well know, running out of other peoples money , and have to steal it from others to keep their plantation going

      Report Post » Psychosis  
    • Buster_Highman
      Posted on February 25, 2012 at 1:06am

      @Dolt6920
      Well, gee, Dolt. That went by the wayside when you got out of third grade. See, if you lose your property by accident, it still legally belongs to you, even if some nitwit theif finds it and decides to screw you out of it by not reporting it to the appropriate authorities.

      Report Post »  
    • MR_ANDERSON
      Posted on February 25, 2012 at 2:25am

      Losers weepers?

      Report Post »  
    • Twobyfour
      Posted on February 25, 2012 at 8:07am

      Buster_Highman, that pertains to living owners, but with finds that span more than one century, things get more complicated. The ownership is legally not so clear. Why do you think Peru made a claim? It was their precious metals and stones that Spain stole.

      Let me make a hypothetical case. In my visit of Jachymov, Bohemia, say I found a hoard of silver tallers and golden ducats, going back to 1620, worth $300k. Who is the owner? The unknown person that put it in the earthware jar is long turned into a dust.

      Anything beyond 100 years should be finders keepers. If a country is interested in some items, they should compensate he new owner. With the kind of grab like in this case, people quit reporting the finds and some items of a significant historical value would get lost.

      Report Post » Twobyfour  
    • Buck Shane
      Posted on February 25, 2012 at 10:09am

      @ Psychosis

      This is just foreign aid. The US took the money from the finders and gave it to Spain – who has managed it’s government so poorly that it is bankrupt. This is money taken from the finders, so it does not appear in our federal budgets. We do not have to print it, just steal it.

      Report Post » Buck Shane  
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