FOUND - Sunken Treasure Worth Billions

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December 7, 2015
By James Massey

CARTAGENA, COLOMBIA – CBS News is reporting a 300 year old sunken treasure has been located off Colombia's coast. The treasure is estimated to be worth billions.

The ship, a Spanish galleon named the San Jose, was sunk while trying to outrun a fleet of British warships on June 8, 1708. Historic records state the British navy’s original intention was to board the ship, but during the hour long sea battle the ship suddenly exploded and immediately sunk. It’s estimated only 11 of the 600 crew and passengers on board, survived.

Up to $17 Billion Dollars in Treasure

Reportedly, the ships treasure of gold coins and jewels may have a value in the range of $4 - $17 billion. The figure is speculation the ship was holding 7 to 10 million Spanish pesos on board at the time of its sinking, based an amount similar to its surviving sister ship the San Joaquín.

Cannons Left No Doubt

According to an ABC News report (video below) the wreckage site was discovered in 1,000 feet of water using autonomous underwater vehicles. The CBS report stated that captured photos of dolphin stamped bronze cannons were so well-preserved, they left no doubt regarding the ship's identity.

The exact location of the galleon is being kept secret. But it is thought the ship had sank somewhere off Colombia's Baru peninsula, in an area south of Cartagena.

More about the discovery (Source: ABC News)

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