Florida’s coastal waters are a mecca for underwater treasure hunters. In this article, we cover best dive spots, legal permits, and tips for recovering 18th-century Spanish gold coins (escudos, doubloons) off Florida’s reefs and sandbars.
Top Florida Dive Sites
- Dry Tortugas Reefs: Near historic HMS Looe (1765) wreck site. Divers have recovered 4 Escudo pieces in the last decade.
- St. Augustine Inlets: Remnants of Spanish missionary ships; finds include 2–4 Escudo coins dating to 1715 fleet survivors.
- Cedar Key Beaches: Proven track record of musket balls and 8 Reales from early Spanish salvage camps, rarely 8 Escudo gold.
Legalities and Permits
Under Florida’s Abandoned Shipwreck Act, no salvage activity is allowed without a State‐issued permit. The Florida Bureau of Archaeological Research issues permits, but competition is fierce—only 10 permits awarded each year. Independent sport divers without a permit can report finds to the state and keep up to $750 in declared treasure (coins and small artifacts). Anything above must be turned over for official appraisal.
Gear & Technique
- Metal Detector: V-lap technology (e.g., Minelab Excalibur II) ideal for saltwater conditions.
- Dive Depth: Most Spanish gold found at 15–30 ft. Dive teams coordinate with NOAA’s VRP (Vessel Response Plans) to avoid protected zones.
- Conservation: Immediately rinse coins in freshwater and stabilize in EDTA solution; Florida State Archaeological license may require immediate notification.
Market Value of Found Gold
- 4 Escudo (1730s): $6,000–$8,500 (depending on condition and provenance letter)
- 8 Reales (1715 Fleet): Commonly $150–$300
- 8 Escudo (Rarity): $10,000–$15,000 (particularly if linked to a known wreck)
Pro Tip
Always dive with a registered Florida state archaeologist or a permitted salvage crew. Any gold coin ring or partial “button” from a Spanish uniform may qualify as a “rare artifact” under state law—report within 30 days to avoid fines.