Expat Community > Colombia

CAB
Joined 2008
Posts: 240

‘Holy Grail of shipwrecks’ to be exhumed off Colombia with $20 billion sunken treasure“This is one of the priorities for the Petro administration,” he said

1 year ago

Facebook
Twitter
Flipboard
Email
Copy

124 Comments
‘Holy Grail of shipwrecks’ to be exhumed off Colombia with $20 billion sunken treasure
By Allie Griffin
Published Nov. 5, 2023, 11:41 p.m. ET

San Jose shipwreck underwater
The San Jose shipwreck is believed to have a treasure of gold, silver and emeralds worth as much as $20 billion.
Presidencia de la República - Colombia
MORE ON:
TREASURE
Secret treehouse oasis in the heart of NYC stuns New Yorkers
Hundreds of Rothschild family treasures to be sold in historic auction worth millions
I’m a real-life gold digger — I found $125K with just a few hand tools and a pig
8-year-old boy finds 1,800-year-old silver coin in school sandbox
Colombia is hoping to expedite its mission to recover a three-century-old sunken treasure worth as much as $20 billion as the ownership of the fortune lies in legal limbo amid an ongoing court battle.

President Gustavo Petro ordered his administration to exhume the “holy grail of shipwrecks” — the Spanish galleon San José — from the floor of the Caribbean Sea as soon as possible, the country’s minister of culture told Bloomberg last week.

Petro wants to bring the 62-gun, three-masted ship to the surface before his term is up in 2026 and has requested a public-private partnership be formed to see it through, Minister of Culture Juan David Correa told the outlet Wednesday.

“This is one of the priorities for the Petro administration,” he said. “The president has told us to pick up the pace.”

Oil painting of San Jose explosion.
3
The San Jose galleon sank in a battle against British ships on June 8, 1708.
Wikipedia
But mystery surrounds the ownership of the massive trove of gold, silver and emeralds estimated to be worth anywhere between $4 billion and $20 billion, according to a lawsuit.

00:01

03:34
The crux of the issue appears to revolve around who is believed to have found it.

The San José galleon — with 600 crew members onboard — sunk some 2,000 feet on June 8, 1708, during a battle against the British in the War of the Spanish Succession. It remained a thing of legend for years as its exact location was unknown.

Pottery and vases sit among shells in sand on ocean floor.
3
The wreck was found and photographed some 2,000 feet underwater in 2015.
Presidencia de la República – Colombia
Gold coins in sand on ocean floor.
3
The wreck has become known as the “holy grail of shipwrecks” due to its massive treasure.
Presidencia de la República – Colombia
Then in 1981, the US company Glocca Morra claimed it discovered the lost treasure and turned over its coordinated to Columbia with the promise it would receive half the fortune when recovered.

Years later, in 2015, Columbia’s then-President Juan Manuel Santos said the country’s navy found the San José wreck at a different location on the sea floor.

Columbia has never released the coordinates of the ship’s final resting place, but Glocca Morra — now called Sea Search Armada — believes the country found part of the same debris field in 2015 that it first discovered 34 years earlier.

The company is suing the Columbian government for half the treasure, or $10 billion, according to its estimate, under the US-Colombia Trade Promotion Agreement, according to Bloomberg.

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Living in Colombia Guide

Expats in Colombia discuss the pros and cons of living in Colombia. From the Colombian people to driving to taxes and more. As challenging as it can be, expats in Colombia clearly find that there is a lot to love about a country that is a surprising expat hot spot.

Colombia Forum
Join our Colombia forum to meet other expats and talk about living in Colombia.

Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in Colombia.

Best Places to Live in Colombia

If you're considering a move to Colombia, here are the 15 Best Places to Live in Colombia in 2023.

Healthcare in Colombia

Our guide to healthcare in Colombia covers public and private healthcare in Colombia, hospitals, vaccinations, prescription medications and more.

Cost of Living in Colombia

Expats offer insight into the cost of living in Colombia.

Moving to Colombia Guide

With its bustling cities, beautiful beaches and friendly Colombians, Colombia is an increasingly popular destination for expats of all ages. Expats in Colombia offer insightful tips for those moving to Colombia.

Real Estate in Colombia

Real estate listings in popular cities and towns in Colombia.

Pros & Cons of Living in Colombia

Take off your rose-colored glasses and learn what expats have to say about the biggest challenges and the greatest rewards of living in Colombia.

Retiring in Colombia

Advice for people retiring in Colombia.

10 Tips for Living in Colombia

If you've recently arrived in Colombia, here are 10 tips for digital nomads living in Colombia.

Additional Information:

Visit our Colombia Index for a Full List

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Cigna Global Health

Get a quote in 2 minutes from our partner, Cigna Global Health.
Get Quote

Contribute
Help others in Colombia by answering questions about the challenges and adventures of living in Colombia.

Login

Or, Send Login Link

Expat Community > Colombia

‘Holy Grail of shipwrecks’ to be exhumed off Colombia with $20 billion sunken treasure“This is one of the priorities for the Petro administration,” he said

Login