Riches recovered: $1 million worth of gold coins stolen from 18th century shipwrecks found

By Jordan D. Brown, CNN

(CNN) — After an extensive investigation, Florida officials recovered dozens of gold coins valued at more than $1 million that were stolen from a shipwreck recovery nine years ago.

The Florida Fish and Wildlife Conservation Commission announced in a news release Tuesday it had recovered 37 gold coins that were stolen from the 1715 Fleet shipwrecks.

The fleet of Spanish ships sailed from Havana, Cuba and headed to Seville, Spain on July 24, 1715. The journey was short-lived, as a hurricane wrecked the fleet just seven days later off the coast of Eastern Florida.

The first ship was discovered in 1928 by William Beach north of Fort Pierce, Florida, about 120 miles south of Orlando. Since then, gold and silver artifacts have been recovered offshore for decades following the first discovery.

In 2015, a group of contracted salvage operators found a treasure trove of 101 gold coins from the wrecks near Florida’s Treasure Coast, about 112 miles west of Orlando. However, only half of the coins were reported correctly. The other 50 coins were not disclosed and later stolen.

The years-long investigation by the state’s fish and wildlife conservation commission and FBI “into the theft and illegal trafficking of these priceless historical artifacts” came to a head when new evidence emerged in June, the news release said.

The evidence linked Eric Schmitt to the illegal sale of multiple stolen gold coins in 2023 and 2024, officials said. Schmitt’s family had been contracted to work as salvage operators for the US District Courts’ custodian and salvaging company for the fleet, 1715 Fleet – Queens Jewels, LLC. The Schmitts had uncovered the 101 gold coins in 2015.

During their hunt for the coins, investigators executed multiple search warrants and recovered coins from private residences, safe deposit boxes and auctions, the news release said. Five stolen coins were retrieved from a Florida-based auctioneer, who unknowingly purchased them from Schmitt.

Investigators used advanced digital forensics to nail down Schmitt as a suspect in the case. In most cases, digital forensics can recover data stored electronically on devices such as a cell phone, computer system or memory module.

With the help of advanced digital forensics, investigators identified metadata and geolocation data that linked Schmitt to a photograph of the stolen coins taken at the Schmitt family condominium in Fort Pierce, Florida.

Authorities said Schmitt also took three of the stolen gold coins and put them on the ocean floor in 2016. The coins were later found by the new investors of the fleet’s court custodian and salvaging company.

Throughout the investigation, the Florida Fish and Wildlife Conservation Commission worked closely with historical preservation experts to authenticate and appraise the recovered coins sold by Schmitt.

Schmitt is facing charges for dealing in stolen property, the release says. CNN has been unable to identify an attorney for Schmitt.

The company commissioned to salvage the shipwreck said in a statement it “was shocked and disappointed by this theft and has worked closely with law enforcement and the state of Florida regarding this matter.”

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

Recovered artifacts will be returned to their rightful custodians, the news release said. But the investigation is far from over: 13 coins remain missing.

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