Florida Authorities Recover 37 Gold Coins Stolen From 1715 Fleet Shipwrecks

Some of the gold coins valued at $4.5-million found off the coast of Wabasso Beach on July 30-31, 2015 are on display during a news conference in Sebastian, Fla., on Aug. 20, 2015. Eric Hasert/The Stuart News via AP

Florida authorities have recovered 37 gold coins worth more than $1 million that were stolen from the 1715 Fleet shipwrecks, the state’s Fish and Wildlife Conservation Commission (FWC) said on Nov. 26.

The FWC said the gold coin recovery marked “a major milestone” in a years-long investigation into the theft and illegal trafficking of historical artifacts.

The gold coins were initially found by contracted salvage operators for the 1715 Fleet—comprising Spanish ships that sank in a hurricane off Florida’s coast in 1715—off Florida’s Treasure Coast in 2015.

There were 101 gold coins found from the wreckages, but only 51 of them were reported and adjudicated, while the remaining gold coins were not disclosed and were later stolen, the FWC said in a statement.

FWC investigators launched a probe with the FBI after new evidence came to light in June this year, leading to the arrest of Eric Schmitt, whose family had been contracted to salvage the centuries-old fleet.

Schmitt was connected to the illegal sale of stolen gold coins between 2023 and 2024, the FWC stated.

During the probe, investigators carried out multiple search warrants and recovered coins from private residences, safe deposit boxes, and auctions. Five coins were retrieved from an auctioneer living in Florida, who had purchased them from Schmitt, the FWC stated.

Investigators also used advanced digital forensics to identify metadata and geolocation data, which linked Schmitt to a photo of the stolen coins taken at the Schmitt family condominium in Fort Pierce.

The FWC said that Schmitt also took three of the stolen gold coins and placed them on the ocean floor in 2016, which were subsequently found by new investors of the 1715 Fleet.

“This case underscores the importance of safeguarding Florida’s rich cultural heritage and holding accountable those who seek to profit from its exploitation,” FWC investigator Camille Soverel said in a statement.

Authorities said the recovered artifacts will be returned to their rightful custodians, though the probe is still ongoing to locate 13 remaining stolen gold coins and hold those involved in the illegal sale accountable.

The custodian and salvaging company of the 1715 Fleet, Queen Jewels LLC, said it was “shocked and disappointed” by the theft and has been working with law enforcement and the state in the case.

“We take our responsibilities as custodian very seriously and will always seek to enforce the laws governing these wrecks,” the company said in a statement.

“The recovered coins are now going through the proper process for legal adjudication.”

The FWC said it partnered with the 19th and Ninth Judicial Circuits to bring charges against Schmitt for dealing in stolen property.