Martinez said he has no plans to sell the coins, which he estimated are worth up to $7,000. Martinez’s friend Cole Smith accompanied him on the excursion along Florida’s aptly named Treasure Coast, which runs along the Atlantic shoreline through the state’s Indian River, St. “I know how to read the beach, and I’m always trying to increase my odds of finding something,” said Martinez. The bulk of the treasure is still beneath the ocean, the newspaper reports. Twelve Spanish ships packed with treasures from the New World were headed for Spain on July 31, 1715, but 11 of the galleons were lost during a hurricane off the Florida coast. “This is why.” Jonah Martinez (left) and Cole Smith Courtesy CBS12 “Not everyone knows why it’s called the Treasure Coast,” Martinez told the newspaper. The duo dug up 22 Spanish silver coins believed to be from a shipwreck 305 years ago - a discovery Martinez estimates is worth about $7,000, reports. Lucie, made the historic find Friday while scouring the sand at the Turtle Trail Beach Access in Indian River County with his friend. A pair of treasure hunters in Florida say they discovered a trove of Spanish coins from a 1715 shipwreck while scanning a beach with a metal detector.
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