Researchers believe they’ve confirmed the identity of a lost early 18th-century Spanish galleon, the San José, through a key discovery: gold escudos minted in Lima in 1707. Experts are calling the vast wealth found among the wreckage a “Holy Grail.”
Using an unmanned submersible, a Colombian team captured images of coin-like artifacts at the wreck site off Colombia’s coast. The coins “were minted in 1707 in Lima, Peru,” and bear heraldic symbols tying them to the Spanish Empire. According to lead researcher Daniela Vargas Ariza, “Coins are crucial artifacts for dating and understanding material culture, particularly in shipwreck contexts.”
Colombia first discovered the wreck in 2015, classifying it a protected archaeological site in 2024. Since then, tensions have risen over ownership. The U.S. firm Sea Search Armada claims to have identified the same wreck in the 1980s and has sued Colombia under the U.S.–Colombia trade agreement.
Today, researchers across the globe recognize this salvage effort as monumental. With treasure estimates ranging from $17 billion to $20 billion—including gold, emeralds, and silver—experts dub it the San José “Holy Grail.”
Colombian President Gustavo Petro aims to extract the treasure by 2026, funding underwater archaeology and preserving historical integrity. Colombia also focuses on constructing a museum to display recovered artifacts and protect cultural heritage.
Despite legal disputes involving Spain, indigenous Bolivians, and salvage firms, the coin evidence tips the scales toward definitive identification. As Daniela Vargas Ariza emphasizes, these gold escudos serve as age markers and cultural signposts.
