TREASURE HAUL STILL BEING FOUND

[Cmmdre]

The 1715 Treasure Fleet was a Spanish treasure fleet returning from the New World to Spain. In the evening of July 30, 1715, seven days after departing from Havana, Cuba, eleven of the twelve ships of this fleet were lost in a hurricane near present day Vero Beach, Florida. Because the fleet was carrying silver, it is also known as the 1715 Plate Fleet (plata being the Spanish word for silver plate).Some artifacts and even coins still wash up on Florida beaches from time to time.
Around 1,000 sailors perished while a small number survived on lifeboats. Many ships, including pirates, took part in the initial salvage. Initially a privateer, Henry Jennings was first accused of piracy for attacking such salvage ships and claiming their salvages.

Kip Wagner's team built an exhibit featured in the January 1965 issue of the National Geographic and held at National Geographic "Explorers Hall" in Washington, D.C. This was the beginning of a fine collection of 1715 plate fleet treasure that brought hundreds of visitors from around the world. An exhibit was set up with a grand opening on May 1, 1967 at the First National Bank of Satellite Beach, Florida.
A museum in Cape Canaveral, Florida the Museum of Sunken Treasure housed this treasure. Underwater archeologist Bob Marx designed many of the exhibits, as well as providing additional treasure to the collection.
In 1987 another ship in the fleet, the Urca de Lima, became the first shipwreck in the Florida Underwater Archaeological Preserves.



Directly copied from this link:
http://en.wikipedia.org/wiki/1715_Treasure_Fleet

A Florida treasure-hunting family struck it rich over the weekend when they discovered an estimated $300,000 worth of gold coins and chains off the coast of Fort Pierce.

"This is like the end of a dream" Rick Schmitt who found the sunken treasure with his family and fellow diver Dale Zeak told the Sun-Sentinel.com.

Schmitt and wife Lisa along with their grown children Hillary and Eric uncovered the treasure 150 yards offshore which includes 64 feet of thin gold chains, five gold coins and a gold ring.
The treasure reportedly comes from the wreckage of a convoy of 11 ships that were destroyed in a hurricane off the coast of Florida in 1715 while they were traveling from Havana to Spain.

More information about recent find at these links:
http://news.discovery.com/earth/ocea...ida-130904.htm
http://www.wtsp.com/news/topstories/...d-off-FL-coast
http://www.upi.com/Odd_News/Blog/201...9371378296105/

[Naharaht]

So much gold! How much will the family be allowed to keep, do you think, after the government has taken its cut?

[Diamondback]

Depends on how much the SPANISH government demands first.

"Oh, thanks for finding it... it's still OURS."

[Cmmdre]

So much gold! How much will the family be allowed to keep, do you think, after the government has taken its cut?

In accordance with U.S. and Florida law, the treasure will be taken into custody by the U.S. District Court in South Florida. The state of Florida will then be allowed to possess up to 20 percent of the find to put on display in a state-run museum. The remainder of the gold will be split evenly between Brisben's company and the Schmitt family.

[Diamondback]

And then since it's Capital Gains, expect a disproportionate bite from those voracious, small-minded predators at the IRS... (h/t paleontologist Dr. Robert T. Bakker :) )

[Gunner]

And then since it's Capital Gains, expect a disproportionate bite from those voracious, small-minded predators at the IRS... (h/t paleontologist Dr. Robert T. Bakker :) )

If the Schmitt family is Republican, I don't see the IRS leaving them much.

[The Barrelman]

So once again... the government gets it all.

[David Manley]

So once again... the government gets it all.

Ain't it always so

[Naharaht]

I suspect that the Spanish government would like all of that treasure back at the moment.

[Cmmdre]

I suspect that the Spanish government would like all of that treasure back at the moment.

Of course they would.

[DeRuyter]

If the Schmitt family is Republican, I don't see the IRS leaving them much.

Not quite, as Republicans and 1 percenters they can hire Mitt Rominy's accountant to get them a lower tax rate or get them an "offshore" loop hole.

[Cmmdre]

Not quite, as Republicans and 1 percenters they can hire Mitt Rominy's accountant to get them a lower tax rate or get them an "offshore" loop hole.

The profiting from that could be re-invested back into their business while capitalizing on the new found fame. Thus putting money back into the economy. Guided dive trips isn't a bad way to milk the cash cow of tourism in Florida.

[csadn]

And people accuse *us* of being rapacious bastards.... >:)

[Diamondback]

If we REALLY wanna get political... I never saw a poor man create a job for ANYBODY except government bureaucrats. Besides, by the IRS's own stats the top 50% of income earners pay almost ALL income taxes collected. (~96.1% or so)

[Gunner]

Since politics is a no no on this site, I just say that I agree with Diamondback on this matter and will say no more about it.

[Nightmoss]

Since politics is a no no on this site, I just say that I agree with Diamondback on this matter and will say no more about it.

Thank you. I get enough of "those" discussions elsewhere. Don't need them here.

[Cpt Kangaroo]

Nothing gets the imagination going like sunken treasure!

I can suggest an awesome book, one that you won't put down.

'Ship of Gold in the Deep Blue Sea.'

http://www.randomhouse.com/features/shipofgold/

It is a true story...

"In 1857, the Central America, a sidewheel steamer laden with gold from the California Gold Rush and carrying six hundred passengers and crew, sank two hundred miles off the Carolina coast. 131 years later, it was recovered by a team led by the inventor, Tommy Thompson, who mastered the art—and science—of deep-sea recovery."



This article talks about the previous mentioned concerns. Very interesting.
http://www.foxnews.com/us/2012/08/23...y-us-marshals/

[Cmmdre]

Thank you for the book suggestion Erin. I love a good read.