The confirmation of the San José galleon’s identity has officially established it as the most valuable treasure ever uncovered, with an estimated worth of 16 billion euros. Resting off the coast of Cartagena, Colombia, this legendary Spanish warship sank in 1708 while transporting nearly 180 tons of gold, silver, and precious gemstones from Peru. Although rumors persisted for years, recent archaeological investigations have now definitively verified the ship’s identity. The finding has reignited a major diplomatic dispute between Spain and Colombia over the rightful claim to this extraordinary discovery.
The sunken Spanish galleon and its unprecedented treasure
On June 8, 1708, the San José galleon went down during a fierce confrontation with British naval forces. As the flagship of the “Flota de Tierra Firme,” the vessel played a crucial role in Spain’s transatlantic economy, transporting wealth extracted from the Americas to the Iberian Peninsula. Its sinking marked one of the most significant maritime losses of its time.
Although Colombian authorities first reported the wreck’s location in 2015, formal identification remained elusive. Specialized underwater missions conducted in 2021 and 2022 finally brought up several gold artifacts from approximately 600 meters below the surface. After undergoing detailed scientific examinations, these objects have now provided irrefutable proof of the galleon’s identity.
With an estimated value of 16 billion euros, the San José treasure surpasses the previous record holder—the riches of the Sree Padmanabhaswamy temple in India, worth around 15 billion euros. This achievement makes the San José cargo the most valuable historical treasure ever authenticated.
Beyond its economic worth, the wreck offers critical insight into colonial-era maritime trade. Every preserved artifact represents a tangible connection to the global economic systems and extractive industries that shaped the early modern world.
Scientific confirmation through advanced archaeological methods
To authenticate the identity of the wreck, Colombian researchers used cutting-edge archaeological techniques. High-resolution 3D models were created via photogrammetry to analyze recovered coins, providing crucial information regarding their origin and historical context. The analysis verified that the coins were:
- Minted in Lima, Peru in 1707
- Hand-crafted with irregular shapes (known as “macuquinas”)
- Stamped with the heraldic symbols of the Crowns of Castile and León
- Produced using raw gold extracted from colonial mining operations
These characteristics correspond closely with documented cargo lists from the San José. The irregularly shaped “macuquina” coins were typical of Spanish colonial minting—less refined than European coins but widely circulated due to their reliability. Their distinct features provided experts with solid evidence that the wreck was indeed the San José.
The full analysis is presented in a scientific paper published in Antiquity (Vargas Ariza et al., 2025). Detailed underwater images included in the study show clusters of coins resting near the port side of the stern, remarkably well preserved despite centuries on the ocean floor.
Diplomatic tensions and competing claims
The confirmation of the wreck’s identity has intensified a multifaceted legal and diplomatic conflict over the treasure’s future. Three main claimants have emerged, each presenting a different basis for ownership:
| Claimant | Basis for Claim | Intended Outcome |
|---|---|---|
| Spain | Original owner of the royal military vessel | Return of the artifacts to national heritage collections |
| Colombia | Wreck located inside Colombian territorial waters | Creation of a dedicated national museum |
| Sea Search Armada (US) | Claims to have located the wreck in the 1980s | Share of the recovered treasure |
Spain argues that as a state-owned warship, the San José remains Spanish property under international maritime law. Colombia, however, maintains that the shipwreck forms part of its own cultural and archaeological heritage, given its location within Colombian maritime territory.
The debate is further complicated by ethical concerns. More than 600 sailors died when the ship sank, making the site not only an archaeological trove but also a solemn maritime grave. Any future recovery efforts must maintain a careful balance between scientific interest and respect for the lives lost.
With such an immense treasure at stake, experts expect that negotiations and legal proceedings will continue for years. Both nations, however, have publicly affirmed their commitment to prioritizing conservation and historical preservation over commercial gain.
