Skip to main content Live Science Live Science Search Live Science View Profile Sign up to our newsletter Planet Earth Archaeology Physics & Math Human Behavior Science news Life's Little Mysteries Science quizzes Newsletters Story archive 2025 Strawberry Full Moon King Midas family tomb Largest ever map of universe Musk's Dragon capsule feud Space photo of the week Recommended reading Archaeology 'Pirate' shipwrecks that sank in 1710 off Costa Rica are actually remains of Danish slave ships Archaeology 'It was deliberately hidden': Gold hoard of nearly 600 coins found in Czech Republic may date to World War II Archaeology American submarine, lost for over a century, discovered 'remarkably intact' off the coast of San Diego Archaeology Metal detectorists unearth dazzling Anglo-Saxon gold-and-garnet raven head and ring: 'It's unbelievable — I'm a bit emotional' Archaeology Catquistadors: Oldest known domestic cats in the US died off Florida coast in a 1559 Spanish shipwreck Braided gold Viking arm-ring discovered by amateur metal detectorist on Isle of Man Archaeology 'Exceptional' hoard of 800 Iron Age artifacts found mysteriously burned and buried in UK field Archaeology Gold coins from 'world's richest shipwreck' reveal 300-year-old depictions of castles, lions and Jerusalem crosses Tom Metcalfe 9 June 2025 Researchers used robotic diving vehicles to study gold coins on the seafloor by the wreck of the Spanish galleon San José. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Details of gold "cobs" observed in ROV images from the wreck site indicate they came from the 1708 wreck of the San José treasure galleon. (Image credit: ARC-DIMAR 2022/Vargas Ariza et al. Antiquity 2025) New details of gold coins found off the coast of Colombia around the "world's richest shipwreck" verify they are from the Spanish galleon San José, a treasure ship that sank in 1708 during a cannon duel with British warships. The galleon was laden with up to 200 tons (180 metric tons) of gold, silver and uncut gemstones when it sank, and the treasure's modern value may be as high as $17 billion, Live Science previously reported. Colombia's government hopes to recover some of the artifacts for a dedicated museum that is yet to be built. But there are opposing claimants, including the Spanish government, which asserts the wrecks of its naval vessels, no matter how old, remain the property of Spain. You may like 'Pirate' shipwrecks that sank in 1710 off Costa Rica are actually remains of Danish slave ships 'It was deliberately hidden': Gold hoard of nearly 600 coins found in Czech Republic may date to World War II American submarine, lost for over a century, discovered 'remarkably intact' off the coast of San Diego The authors of a new study, published Tuesday (June 10) in the journal Antiquity, include researchers from Colombia's navy and other Colombian authorities. Their analysis included studying images taken by remotely operated vehicles (ROVs) of dozens of rough coins that now lie scattered around the wreck at a depth of roughly 1,970 feet (600 meters). In 2015, Colombia's government announced that it had located the San José in the Colombian Caribbean near the city of Cartagena, and the observations were made during four ROV expeditions to the wreck in 2021 and 2022. According to the study, the observations confirm that the coins and the nearby wreck debris are from the 1708 wreck of the San José. Related: Treasure trove of gold and jewels recovered from a 366-year-old shipwreck in the Bahamas Sign up for the Live Science daily newsletter now Get the world’s most fascinating discoveries delivered straight to your inbox. Contact me with news and offers from other Future brandsReceive email from us on behalf of our trusted partners or sponsorsBy submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over. The ROV dives in 2021 and 2022 revealed dozens of distinctive gold cobs at several locations within the wreck, surrounded by other artifacts. (Image credit: ARC-DIMAR 2022/Vargas Ariza et al. Antiquity 2025) Sunken gold The researchers describe seeing dozens of rough gold coins — the total number is not known — at several locations within the shipwreck, surrounded by other artifacts from the cargo, guns and everyday life as it was on board more than 300 years ago. They used high-definition photography to closely examine the coins and determined that they had an average diameter of 1.3 inches (32.5 millimeters) and a likely weight of 27 grams (about 1 ounce). The ROV images revealed the coins' designs. One side has a variation of a Jerusalem cross — one large cross surrounded by four smaller crosses — and a shield decorated with castles and lions. On the back, these coins show the "Crowned Pillars of Hercules above the waves of the sea," with the waves being unique to the Lima Mint, the researchers wrote in the study. They also noted that some bore distinctive marks that had been hammered into the metal, including the marks of an assayer — an expert who tests the purity of metal — from the Spanish mint in Lima, now the capital of Peru, in 1707. By cross-referencing their observations with colonial records, the researchers determined that the coins and other artifacts came from the San José, the study said. Study lead author Daniela Vargas Ariza, a maritime archaeologist at Colombia's Almirante Padilla Naval Cadet School in Cartagena and the Colombian Institute of Anthropology and History in Bogotá, said these colonial Spanish coins were often cut from gold or silver ingots. "Hand-struck, irregularly shaped coins — known as cobs in English and macuquinas in Spanish — served as the primary currency in the Americas for more than two centuries," she said in a statement. The "cobs" made in Spanish colonial mints in the Americas were hand-struck coins, often irregularly shaped and cut from gold or silver ingots. (Image credit: ARC-DIMAR 2022/Vargas Ariza et al. Antiquity 2025) Richest shipwreck The San José wreck is one of the most valuable ever found, and there are intense legal disputes about who has the right to recover it — although it's not known if that's possible. Colombia hopes some of the treasure could be sold to pay for the archaeological recovery effort of the entire ship, but Colombian law may prohibit selling anything deemed a historical artifact. RELATED STORIES —Ming dynasty shipwrecks hide a treasure trove of artifacts in the South China Sea, excavation reveals —Coins worth over $1 million recovered from 1715 Spanish treasure shipwrecks in Florida —Avast, matey! 5 of the biggest pirate hauls in history Spain also claims the shipwreck and all of its treasure, under an international convention on the Law of the Sea that states the wrecks of naval vessels belong to their original nation. But Colombia hasn't ratified that convention, and critics say the provision is intended to protect modern warship technologies, not centuries-year-old treasure wrecks. The San José was leading a treasure fleet of 18 ships from Cartagena bound for Europe on June 8, 1708, when it was attacked by a squadron of five British warships; Britain was Spain's enemy during the War of the Spanish Succession at that time. The three largest Spanish galleons fired back with their cannons, but the San José blew up and sank when its stores of gunpowder exploded; most of the Spanish fleet fled to safety in the harbor at Cartagena. Tom Metcalfe Social Links Navigation Live Science Contributor Tom Metcalfe is a freelance journalist and regular Live Science contributor who is based in London in the United Kingdom. Tom writes mainly about science, space, archaeology, the Earth and the oceans. He has also written for the BBC, NBC News, National Geographic, Scientific American, Air & Space, and many others. You must confirm your public display name before commenting Please logout and then login again, you will then be prompted to enter your display name. 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