Last week, divers from Mel Fisher’s Treasures found an emerald ring, valued at $500 thousand dollars, believed to be from the wreck of the 1662 wreck of the Spanish treasure ship, Nuestra Señora de Atocha, which sank in 1662.

If anyone thinks of treasure hunting as a “get rich quick” scheme, they should look to one of the world’s most successful treasure hunters, Mel Fisher, who began his search for the Atocha in 1969.   In 1985, his team discovered part of the wreck and located over 40 tons of silver and gold, including over 100,000 Spanish silver and gold coins, Columbian emeralds, silver and gold artifacts and over 1000 silver bars.  Nevetheless, after forty years of searching, they have yet to find the ship’s stern castle, which many experts believe would hold  gold and rare Muzo emeralds stored in the Captain’s cabin for safekeeping.   Until they find the rest of it, the divers at Mel Fischer’s Treasures will keep searching the ocean floor for the illusive treasure of the Atocha. For these treasure hinters, last week was a very good week indeed.

Now that’s buried treasure! $500k emerald ring found by divers in wreck of 17th century Spanish ship

Divers have discovered an antique emerald ring worth $500,000 whilst searching for a sunken Spanish frigate off the coast of Florida.

The gold piece of jewellery is thought to have come from the ill-fated Nuestra Senora de Atocha that sank off the Florida Keys 400 years ago.

It was found by one of the diving team about 35 miles off the coast of Key West and is set to earn them a fortune.

The emerald in the middle is 2.7cm by 2.5cm and has initials engraved on it. Similar jewels found from the Atocha have gone for $500,000.

Thanks to Phil Leon and Irwin Bryan for passing the news along.