Spain to receive shipwreck treasure after legal battle
Short form: a Spanish ship sank in 1804 with a bunch of gold & other treasure. Odyssey Marine exploration, Inc. fished up 49,000 pounds of goodies, worth about half a BILLION dollars. The US government declares that sunken treasure belongs to the nation of origin, not to the finders. US government gives the treasure to the Spanish government, not even allowing the company to get compensation for having stored the treasure.
Money quote from Melinda MacConnel, Odyssey’s general counsel:
“They have not considered the high cost of storage and conservation of these coins, but more importantly they have failed to consider that in the future no one will be incentivized to report underwater finds.
“Anything found with a potential Spanish interest will be hidden or even worse, melted down or sold on eBay.”
Good job, Spain. Say goodby to any more treasures from the past. Were I a professional treasure hunter, I’d certainly consider melting down any found gold, or just selling it one doubloon at a time.