Treasure on Sunken Spanish Galleon Could Be Biggest Ever
The lure of a billion dollars in gold and jewels is already spurring conflict over rights to the San Jose, found off Colombia's coast.
An early 18th-century Spanish ship that could contain treasures of gold, silver, and jewels is becoming an object of contention as Colombia, Spain, and a U.S.-based salvage company try to sort out who owns the ship’s immense wealth.
The San Jose is being hailed as perhaps the most valuable shipwreck discovery of all time. President Santos of Colombia estimated the value of the find at about $1 billion U.S.
Colombian President Juan Manuel Santos reported last week that Colombian salvagers had found the Spanish treasure ship San Jose in Colombian waters. Archaeologists and salvagers knew the approximate location of the ship since it sank more than 300 years ago.
Colombia is contesting the ownership of the San Jose by Sea Search Armada, a