After more than 300 years hidden beneath the Caribbean Sea, the legendary Spanish galleon San Jose has finally been identified. This shipwreck, believed to hold one of history's greatest lost treasures, valued at an astonishing US$16 billion, has ignited a fierce multi-billion-pound legal battle over who rightfully owns its gold, silver, and emeralds.
The San Jose galleon, often called the "holy grail of shipwrecks," met its dramatic end in 1708. It was sailing from Peru to Spain, loaded with riches intended to fund the War of the Spanish Succession, when the British Royal Navy attacked it. During this intense battle, the ship's powder magazines exploded, sending the San Jose and its invaluable cargo to the ocean floor off the coast of Cartagena, Colombia.
For centuries, its exact location remained a mystery. Then, in 2015, an expedition using advanced underwater drones located a shipwreck. Colombian experts have now confirmed that this is indeed the famous San Jose galleon. They found silver coins from the Lima Mint dated 1707, Chinese porcelain from the Kangxi period (1662–1722), and cannons marked with dates from 1665. These clues strongly confirm the ship's identity and its historical journey.
The confirmation of San Jose's identity has immediately sparked a heated dispute over ownership of its massive treasure. Multiple parties are now claiming a piece of this incredible find:
Governments: Colombia, Spain, and Peru are all asserting their rights to the treasure.
Indigenous Communities: Descendants of Peruvian miners and indigenous groups are also seeking a share, arguing historical ties to the treasure.
Treasure Hunting Company: Sea Search Armada (formerly Glocca Morra) claims a portion, stating they first discovered the wreckage in 1981. Colombia, however, disputes this, and a US$10 billion lawsuit is currently ongoing.
The discovery of the San Jose offers more than just immense wealth; it presents a unique opportunity for historians and archaeologists. Exploring this underwater site can greatly improve our understanding of colonial maritime trade routes and practices in the early 18th century. The artefacts found, such as the specific coins and porcelain, provide direct links to that historical period.
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While the discovery of the San Jose galleon is a monumental archaeological achievement, the path to recovering and distributing its treasure is fraught with legal and ethical challenges. With so many powerful claims and an ongoing lawsuit, the true ownership of this US$16 billion fortune remains uncertain. It seems the "holy grail of shipwrecks" will continue to make headlines for years to come, not just for its incredible treasure, but for the complex battle surrounding it.
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Published on: Jun 13, 2025, 10:27 AM IST
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