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On September 6, 1622, the heavily laden treasure galleon of King Philip IV's Tierra Tierra Fleet struck a reef and sank in a raging storm near the Florida Keys. More than two hundred and sixty persons perished and tons of gold, silver, and other precious cargo were lost to the sea. All attempts to locate the shipwreck failed until the location of the primary cultural deposit was made by Treasure Salvors, Inc., on July 20th, 1985.
Most of the coins recovered from the Atocha were minted in the New World and usually have irregular shapes. They were manufactured by cutting coin blanks from crudely cast bars of refined silver bullion; then clipped to the requisite weight, heated, and hand-hammered between crudely engraved dies. The rough surface and irregular circumference of the blanks prevented well-defined strikes; consequently, the legends are frequently missing or only partially visible. The Spanish authorities were unconcerned with the shape of the coins or visible dates. The important features were the assayer's mark and mint mark, as it guaranteed the fineness of the bullion and the proper weight. The penalty for not showing these marks was severe.
Coins of Philip Il (2556-1598) and Philip IIl (1598-1621) bear a simplified Hapsburg Shield on the Obverse. The legend, if complete, reads "PHILIPPVS II (III) DEI GRATIA", "Philip I (lI) By the Grace of God". The reverse has a cross with castles and lions in the quarters. The legend reads "HISPANIARVM:ET: INDIARVMREX", "King of Spain and the Indies."
The Atocha Shipwreck was awarded to Treasure Salvors, Inc. by the Admiralty Jurisdiction of the United States District Court for the Southern District of Florida and by the United States Supreme Court, and itartifacts have remained in Treasure Salvors, Inc, possession until this time.
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