A Sanford, Florida family of
treasure hunters hit it big this weekend while scouring a shipwreck area in the Atlantic. Rick and Lisa
Schmitt, and their adult children Hillary and Eric found $300,000 of gold. The treasure
consists of chains and coins from a convoy of ships that sunk during a
hurricane off Florida in 1715. The ships were making passage from Havana to
Spain and loaded with more than $400 million of treasure. So far, an estimated
$175 million has been found. It looks like there is plenty more to discover.
And, what happens to all those treasures? Under U.S. and Florida law, the
treasure will be held in the custody by the U.S. District Court in South
Florida. The state of Florida will be allowed to take keep up to 20 percent of
the find for display in a state museum. The remainder will be divided evenly
between Queens Jewels LLC (who owns the rights to the wreckage), and the Schmitt
family who were given permission to search under subcontracting agreements. What an exciting time for these very dedicated treasure hunters!
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