1715 Fleet, east coast of Florida
The Spanish
1715-Fleet disaster was probably the greatest to befall any of the
Spanish treasure fleets in terms of casualties and money, with reports
of a loss of 14 million pesos (plus an equal or greater amount in
contraband) and as many as 1,000 or more lives. The modern salvage of
this fleet, begun in the early 1960s and ongoing today, has been the
largest single source of gold cobs ever in the numismatic market,
turning former rarities and unknown issues into collectible and popular
(albeit still expensive) commodities.
The trip back to
Spain was to be the routine one: up the coast of Florida on the Gulf
Stream, which gradually turns outward into and across the Atlantic at
about the location where the fleet was lost. On the 30th of
July, the fleet encountered a hurricane, driving the ships shoreward.
Some of the ships sank in deep water, some broke up in shallower water,
and others ran aground close to the beach, while a lone vessel, the
tag-along French ship Grifón,
sailed onward without incident. Hundreds of the crews and passengers
lost their lives while other hundreds of survivors improvised a camp on
shore to await aid from the Spanish fort at St. Augustine, to which a
party was sent. Ultimately news of the disaster reached Havana, whence
salvage ships were dispatched to the scene.
The Spaniards
undertook salvage operations for several years, with the help of
Indians, and they recovered nearly half of the vast treasure (at least
the registered part), from the holds of ships whose remains rested in
water sufficiently shallow for breath-holding divers. Gradually the
salvagers enlarged their encampment and built a storehouse on the spit
of dune land just behind the beach that bordered a jungle. In 1716 a
flotilla of British freebooters under Henry Jennings appeared on the
scene, raided the storehouse, and carried off some 350,000 pesos of the
treasure to Jamaica. The Spaniards, however, resumed operations until
they could salvage no more and quit in 1719. The rest of the treasure
remained on the ocean floor until our time.
Modern salvage
on the 1715 Fleet began in the late 1950s, when local resident Kip
Wagner found a piece of eight on the beach after a hurricane and decided
to pursue the source. With the help of a 1774 chart and an army-surplus
metal detector, he located the original Spanish salvage camp and
unearthed coins and artifacts. Then using a rented airplane to spot the
underwater wrecksite from the air and check the location again by boat,
Kip found the source of the coins and soon
formed a team of divers and associates
backed by a salvage permit from the State of Florida. All of this took
place over a period of years before it evolved into the Real Eight
Company, the origin of whose name is obvious.
To salvage the wreck, the Real Eight divers
originally used a dredge and suction apparatus; only later did they
adopt the use of a propwash-blower (known as a “mailbox”) developed by
their subcontractor Mel Fisher. Eventually they found gold jewels,
Chinese porcelain, silverware, gold and silver ingots, and as many as
10,000 gold cobs of the Mexico, Peru, and Colombia mints; and, mostly in
encrusted clusters, well over 100,000 silver cobs of all denominations.
The salvaged coins were all cobs, both gold
(Mexico, Bogotá, Lima, and Cuzco) and silver (mostly Mexico but also
some Lima and Potosi), minted primarily between 1711 and 1715, although
numerous earlier dates were represented too, some of the dates extending
well back into the 1600s. Many of the dates and types of the 1700-1715
period had been either rare or unknown prior to the salvage of the 1715
Fleet. The gold coins, as can be expected, have been generally pristine,
as have been some of the silver coins, but most silver cobs from the
1715 Fleet are at least somewhat corroded, some no more than thin,
featureless slivers. Every denomination of cob made in silver and gold,
with the exception of the quarter real (which was not minted past the
very early 1600s), has been found on the 1715 Fleet, as well as several
different denominations of round “Royal” presentation issues. Promotions
of the coins by Real Eight and others have spanned the decades, in
addition to auctions by Henry Christensen (1964); Parke-Bernet Galleries
(1967) and Sotheby Parke Bernet (1973); the Schulman Coin and Mint (1972
and 1974); Bowers and Ruddy Galleries (1977); and even the U.S. Customs
Service (2003). The demand for these coins over the years has steadily
risen while the supply of new finds has dwindled.
As the salvage operation on the 1715 Fleet
reached diminishing returns, some of the associates like Mel Fisher
headed for Key West and other areas to search for new wrecks. Do not
believe, however, that the 1715-Fleet search is over. As many as five or
six of the twelve or thirteen galleons remain undiscovered, search areas
are still leased from the state, and even the old wreck sites continue
to relinquish a few coins to an insatiable numismatic market. Even the
beaches themselves yield fabulous finds (one gold “Royal” 8 escudos—a
six-figure bonanza in our day—was found on the beach by a metal
detectorist in 1989), especially after direct-hit hurricanes like
Frances and Jeanne, which devastated the treasure beaches in rapid
succession in the summer of 2004. Much of the finds stays in the hands
of locals throughout the State of Florida—divers, beachcombers, and
old-time collectors who love their cobs and sell only when they must.
The one collector that never sells is also the one with the largest
collection of them all—the museum of the State of Florida. Spain lost it
all to America, whence it came.
Despite a wealth
of publications pertaining to the 1715 Fleet with names of the ships and
the known locations of some of the wrecks, there is no universal
agreement as to the identity of the vessel at each wrecksite. In many
cases, in fact, it is possible that separate wrecksites represent
different parts of the same ship. As a result, salvagers over the
decades have resorted to nicknames for the sites based on landmarks,
local individuals, and even features from the wrecks themselves, such as
(from north to south): “Pines” (Sebastian), “Cabin” (Wabasso), “Cannon”
(Wabasso), “Corrigan’s” (Vero Beach), “Rio Mar” (Vero Beach), “Sandy
Point” (Vero Beach), “Wedge” (Fort Pierce), and “Colored Beach” (Fort
Pierce). (Case in point: In this very catalog you will see items
alternately certified as from the “Corrigans site” and the “Regla
site,” which are one and the same.) Traditionally the range of sites
extends from south of Fort Pierce up to just south of Melbourne in the
north, but rumors of 1715-Fleet finds as far north as Cape Canaveral,
New Smyrna Beach and even Fernandina Beach (near Jacksonville) may have
merit. Regardless of the exact site of origin, a great majority of the
coins are sold simply as “1715 Fleet.” For related items visit our Fixed-Price Catalog
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