A Treasure May Be Off the Coast of Colombia, but Who Can Claim It?

The New York Times (NYT) (11/10/2023)
  • The San José, a Spanish cargo vessel ship sunk in 1708 by the British with treasure currently estimated at $20 billion, has ignited a complex international dispute over its claim.
  • While Colombian President Gustavo Petro plans to recover it, this initiative faces opposition from archaeologists, Spain, indigenous groups, and a US search group claiming 50% discovery rights for locating the shipwreck in the 1980s.
  • The article details why the recoverable treasure’s value is probably inflated and the justification behind ownership claims.