The Holy Grail of Shipwrecks Just Yielded Its First Treasure, With $17 Billion Still Under the Sea

First Treasures from the Legendary San José Shipwreck Recovered

Experts have brought to the surface the first artifacts from the 1700s Spanish galleon San José, often called the “Holy Grail” of shipwrecks. The Colombian government plans to preserve these initial finds carefully.

Among the recovered items are a cannon, two porcelain cups, and three gold and bronze coins. The galleon sank in 1708 off the coast of Colombia after being attacked by the British Royal Navy during the War of Spanish Succession.

The San José was carrying a decade’s worth of treasure—gold, silver, and gems collected as tribute from Spanish colonies in Latin America, destined for the Spanish crown. While only a few items have been brought to the surface so far, the shipwreck lies about 1,970 feet below the ocean, and experts estimate its remaining treasure could be worth as much as $17 billion.