First Artifacts Raised From the Legendary San José — Up to $17 Billion Still Resting 1,970 Feet Below

Colombian teams have recovered the first artifacts from the 18th-century Spanish galleon San José, while the bulk of the ship's vast cargo — estimated at $10–$17 billion — remains nearly 2,000 feet beneath the Caribbean Sea.

What Was Recovered

Using a remotely operated vehicle (ROV) to avoid disturbing the wreck, archaeologists retrieved three small gold and bronze coins, a bronze cannon (with accompanying fragments of wood, rope and sediment) and two porcelain cups of different styles. The items were transferred to the Center for Archaeological and Historical Research and the National Museum of Colombia for conservation and study.

Historical Context

The San José was part of the Flota de Tierra Firme and departed Peru in 1707 carrying about a decade's worth of colonial tribute — gold, silver and uncut gemstones destined for the Spanish crown. On June 8, 1708, while sailing from Cartagena, the fleet was attacked by British warships. A British cannon strike and the subsequent explosion of the San José's gunpowder stores sank the 150-foot-long galleon, leaving its cargo on the ocean floor.

Scientific Work and Conservation

A recent study confirmed that macuquinas (known in English as cobs) are scattered across the wreck site. These irregularly cut coins were a principal medium for moving large amounts of royal treasure from the Americas to Europe during the colonial era.

To preserve the integrity of the site, Colombian archaeologists employed robotic equipment to inspect the vessel and secure small, representative samples rather than undertake large-scale recovery. Officials say this careful, incremental approach balances archaeological preservation with the need to study and conserve important artifacts.

Alhena Caicedo Fernandez, Director of the Colombian Institute of Anthropology and History, said in a translated statement: "Recovering these objects opens the possibility for citizens to approach, through material testimony, the history of the San José galleon."

Legal And Cultural Stakes

The Colombian government reported locating the wreck in 2015. Modern estimates place the value of the San José's cargo between $10 billion and $17 billion, and an international custody dispute between Spain and Colombia remains unresolved. Beyond monetary worth, experts emphasize the ship's cultural and historical value and the importance of preserving its archaeological context.

Researchers estimate roughly 200 tons of gold, silver and uncut gems were aboard the San José — accumulated over about ten years of colonial taxation. As Colombian teams continue careful, limited recoveries, additional artifacts may be brought to the surface for conservation, study and display, while the majority of the treasure remains locked beneath 1,970 feet of water.