The fight for a legendary shipwreck's treasure
For centuries, the shipwreck was the stuff of legends, until 2015 when underwater investigators found what they believed to be the San Jose's wreckage. The treasure on board this ship could be worth billions of dollars. But who owns it? Today on the show, four groups stake their claims to the wreck of the San Jose. Those claims reveal a lot about who has a say over the bottom of the sea and how we can begin to untangle the complicated legacy of colonialism.
This episode of Planet Money was hosted by Erika Beras and Mary Childs. It was produced by Sam Yellowhorse Kesler with reporting help from Willa Rubin and edited by Keith Romer. It was fact-checked by Sierra Juarez and engineered by Neil Rauch with help from Robert Rodriguez. Alex Goldmark is Planet Money's executive producer.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
Press play and read along
Transcript
Speaker 1
This message comes from NPR sponsor Charles Schwab. Financial decisions can be tricky.
Your biases can lead you astray. Financial Decoder, an original podcast from Charles Schwab, can help.
Speaker 1 Download the latest episode and subscribe at schwab.com slash financial decoder.
Speaker 2 This is Planet Money from NPR.
Speaker 3 10 years ago, Mike Purcell was on one of his missions on a ship in the Caribbean Sea off the coast of Colombia and for about a week every night he had been sending out his autonomous underwater vehicle to search the sea floor I bet if you go along that coast of Colombia every four miles there's a ship a sunken ship.
Speaker 2 This autonomous vehicle that Mike helped develop is like a little underwater drone. It would scan the bottom of the ocean and record whatever it came across.
Speaker 2 And one day it came across a very, very big object.
Speaker 4 Yeah, we see something in the sonar that is a possible. Yes.
Speaker 2
A possible, yes. Mike gets called in for all kinds of jobs like this.
He was once asked to find Amelia Earhart's plane. No luck.
Speaker 2 Another time to locate this Air France plane that went down between Rio de Janeiro and Paris. That one, they did find.
Speaker 3 This time, a private group and the Colombian government wanted his help finding a 300-year-old shipwreck that was the stuff of legend. The Spanish galleon, the San Jose.
Speaker 3 It was one of the most famous shipwrecks and maybe the most valuable one of all time.
Speaker 2 To investigate, they sent the drone back down to take pictures. And when the images came back up, Mike and his team crowded around this one guy's desk to see what they'd found.
Speaker 4 You know, we're down in...
Speaker 4 This, you know, pretty old ship in this room that's big, probably smaller than your closet. He's at his desk here and we're just looking at it and I'm behind him looking down at the pictures.
Speaker 2 And as they look at these grainy black and white underwater images from a few meters off the seafloor, they start to make things out.
Speaker 4 There's part of the hull, the wood hull. There's 100 teacups sitting on the surface.
Speaker 2 100 teacups just lying there nestled into the sand next to the fish and crabs.
Speaker 4 Well, we saw the cannons, we saw the anchor, we start taking the pictures and putting them together like in a little bit of a mosaic. You can see an outline of the ship.
Speaker 3 And they see, no joke, a bunch of gold coins.
Speaker 2 I feel like my image of what a shipwreck looks like is literally that, like a chest with gold coins spilling out of it. And that's
Speaker 2 you're telling me that's actually real. That's actually what the picture showed you.
Speaker 4 Yeah, well,
Speaker 4 they weren't really spilling out.
Speaker 2 But they were there, maybe not in a chest, but but scattered about the sea floor. Mike and his team were pretty sure this was the San Jose.
Speaker 4 We found it. We knew we found it.
Speaker 3 The San Jose was a Spanish galleon that sank in 1708 with billions of dollars worth of gold and silver and teacups aboard.
Speaker 2 They sent the big news back. About a week later, when they returned to port, they were told they had a visitor.
Speaker 4 Then the president and every, they came on board and we chatted with him briefly about finding it.
Speaker 2 Wait, you chatted with the president?
Speaker 4 Of Colombia, yes.
Speaker 1 Was he so excited?
Speaker 4 Yeah.
Speaker 4 He was very happy it was found. There's no doubt about that.
Speaker 2 This was 10 years ago, and that shipwreck is still sitting on the bottom of the seafloor. Because while the Colombian government is clearly invested in this ship, They are not the only ones.
Speaker 2 The battle that sank the San Jose was fierce, and so is the battle over who deserves control of its shipwreck and all its billions of dollars of treasure.
Speaker 4 Maybe it turns out to be 20 billion, maybe it's 5 billion. I don't know.
Speaker 4 But
Speaker 4 it seems to me that they're lining up to fight over who gets it. So who will make out in the end here, I'm not sure.
Speaker 3 Are you in line? Do you have a steak?
Speaker 4 All I want is a teacup.
Speaker 3 Just a teacup.
Speaker 2 Hello and welcome to Planet Money. I'm Erica Barris.
Speaker 3 And I'm Mary Childs. So the San Jose shipwreck was found, but it is not clear who it actually belongs to.
Speaker 3 Turns out shipwrecks with billions of dollars worth of stuff on them can get pretty confusing and contentious.
Speaker 3 Colombia, Spain, American financiers, South American indigenous groups, everyone wants a say in what should happen to the San Jose.
Speaker 2 And because the laws that govern this stuff can overlap and the jurisdictions can be so murky, every single group kind of has a valid argument.
Speaker 2 Today on the show, the fight for the San Jose, what one 300-year-old shipwreck can teach us about just how hard it is to untangle the legacy of colonialism.
Speaker 1 This message comes from Vanguard. Capturing value in the bond market is not easy.
Speaker 1 That's why Vanguard offers a suite of over 80 institutional quality bond funds, actively managed by a 200-person global team of sector specialists, analysts, and traders.
Speaker 1
They're designed for financial advisors looking to give their clients consistent results year in and year out. See the record at vanguard.com slash audio.
That's vanguard.com slash audio.
Speaker 1 All investing is subject to risk. Vanguard Marketing Corporation, Distributor.
Speaker 5 This message comes from Charles Schwab.
Speaker 6 When it comes to managing your wealth, Schwab gives you more choices, like full-service wealth management and advice when you need it. You can also invest on your own and trade on Thinkorswim.
Speaker 6 Visit Schwab.com to learn more.
Speaker 2 To Colombians, the ship that Mike Purcell found plays a huge role in the country's cultural imagination. To them, it was another El Dorado, the lost city of gold.
Speaker 2 The great Colombian author Gabriel Garcia Marquez even wrote about the ship.
Speaker 2 In Love in the Time of Cholera, one of the characters wants to recover the San Jose so the woman he loves can bathe in gold.
Speaker 7 I quite frankly thought it was a legend.
Speaker 3 This is Juan Manuel Santos.
Speaker 7 So I really didn't give that importance to the San Jose
Speaker 7 until
Speaker 7 we found it.
Speaker 3 He was the president of Colombia from 2010 to 2018, the one who shook Mike Purcell's hand after they found the the San Jose in 2015.
Speaker 2 President Juan remembers vividly when he found out that Mike's team had located the shipwreck.
Speaker 7
The minister called me and woke me up. And when I said, listen, I think it's two o'clock in the morning.
Oh my God, Mr. President, I'm so sorry, but I have good news.
And she told me.
Speaker 2 How did you feel at that moment?
Speaker 7 I thought, my God, God is in our side. And I started to say, how are we going to rescue it? How are we going to sell it to the world? Also, the type of legal fights that we were going to have.
Speaker 3 He could see the legal fights coming. But President Juan, he was pretty confident that Colombia would win those fights.
Speaker 3 Because for years, people had been beating down his door, trying to work with the government to search Colombia's waters for the San Jose.
Speaker 3 Finally, one group got through, the group that Mike Purcell was working with. And they made a deal to work together and find it.
Speaker 2
And then they could figure out what to do with whatever profits. And then they found it.
So President Juan says it's theirs. That's how it works.
Speaker 7 I remember, because I studied, worked and studied in Great Britain, and I'm not a lawyer, but I remember something from the British law that the British had always
Speaker 7
applied that principle that said, finders, keepers. So if you find it, you keep it.
So I'm going to apply that law. to the galleon.
Speaker 1 Finder keepers, the galleon is ours.
Speaker 2 Okay.
Speaker 3 So you're already doing all these machinations in your head.
Speaker 7 Yes, yes, yes. I mean,
Speaker 7 I didn't sleep that night.
Speaker 3
And finders, keepers is a legitimate legal argument. It's called the law of fines.
If someone finds a shipwreck or cargo, they have the rights to it. So long as that thing was abandoned.
Speaker 2 And Colombia did find it because Mike Purcell and his autonomous underwater vehicle, his group was working with the Colombian government.
Speaker 2 And the San Jose has been sitting at the bottom of the sea for over 300 years. That sounds abandoned.
Speaker 3 Now, the law of fines mostly applies to ships found in international waters. This ship was in Colombia's territorial waters.
Speaker 3 And according to the UN's Convention on the Law of the Sea, countries have some jurisdiction over a certain area off their shores and over the removal of archaeological and historical objects found in there.
Speaker 2 Not long after he heard the news, President Juan gave a speech standing at the naval base in Caltagena about how Colombia was bearing witness to one of the greatest discoveries in the history of humanity.
Speaker 3 President Juan is no longer the president, but he says the nation wants to salvage the San Jose and to build a museum. That's the plan.
Speaker 7 This is a Colombian galleon, and we will do with the galleon what we think we should do.
Speaker 2 But historically, it's kind of not a Colombian galleon. It was a Spanish ship from Spain.
Speaker 2 To learn its history and learn about Spain's claim, we called up a Spanish expert in these types of artifacts, Ricardo Sanz Marcos.
Speaker 3
The San Jose was built in the late 1600s, and this ship was fancy. It weighed more than a thousand tons.
It was built of wood that could withstand the salty seas and was reinforced with iron.
Speaker 3 It had three masts and 64 brass cannons, which were etched with dolphins. Ricardo says the San Jose was a state-of-the-art ship.
Speaker 2
Ricardo says it had all the latest technology. For the 17th century, it was like a rocket built to go to Mars.
Spain was a global superpower, and the route the San Jose took was iconic.
Speaker 2 La Carrera de Indias, the maritime network that connected Spain to the Americas and Asia and created what is often called
Speaker 2 the first era of globalization, the period when Spain helped to establish this global network of trade.
Speaker 2 He says Spain was sending ships all over the world, moving porcelain and silk that came from China, gold and silver from the Americas. Great for Spain, but not everyone liked it.
Speaker 2 Including the English.
Speaker 3 England and Spain were at war over trade and colonies. And in June of 1708, the San Jose was going from what is now Panama to the coast of Cartagena before starting its journey to Spain.
Speaker 3 An English ship showed up to seize what was on board. They shot a cannonball into the San Jose,
Speaker 3 but that ball hit the ship's powder reserves.
Speaker 3 So, boom, the ship sank. along with nearly 600 men.
Speaker 2 Which makes this shipwreck site a Spanish war grave.
Speaker 3 This ship was never abandoned, Spain says.
Speaker 2 It's theirs.
Speaker 3 And that is why they also have a claim to the San Jose.
Speaker 2 The San Jose was flying the Spanish flag when it sank, and warships generally have something called sovereign immunity, which means they fall under their country's jurisdiction no matter where they are.
Speaker 3 So, our expert Ricardo, who does not work for the Spanish government, says the San Jose does not belong to Colombia, it belongs to Spain.
Speaker 2 No cabeduda, without a doubt. Ricardo likens it to a sunken embassy.
Speaker 3 And also, he says it's a piece of history, Spain's history.
Speaker 3 It's like a time capsule from the day it sank.
Speaker 2 He says it has information about how the boat was constructed, what they ate, what they carried, where that stuff came from.
Speaker 3
And Spain has successfully made this argument before. Ricardo says about 20 years ago, different Americans found a different Spanish boat sunk by the English.
Apparently, that happened a lot.
Speaker 3
They recovered more than 500,000 silver and gold coins. And a U.S.
court said,
Speaker 3
The Spanish boat had sovereign immunity. So Spain ended up getting the coins.
Ricardo says the same law should be applied to the San Jose.
Speaker 2 Now, Spain has tried to insert itself into other recent legal proceedings around this galleon, but to date it hasn't brought its own legal case based on sovereign immunity.
Speaker 2 Spain did put out a public statement that described the San Jose as an underwater tomb that, quote, cannot be subject to commercial exploitation, end quote.
Speaker 2 In other words, don't just haul off the silver and gold and dump the rest.
Speaker 3 So that is Spain's claim to the San Jose. It is an historical claim.
Speaker 2 But if we're talking historical claims, there's another group with a claim that goes slightly further back in history.
Speaker 2 Because while the ship itself may have come from Spain, that was not true of everything on board. To hear this claim, I called up Tata Samuel Flores Cruz.
Speaker 2 He was in Potosi, Bolivia.
Speaker 2 Which, he says, is in the jurisdiction of the indigenous Caracara nation. He's one of the leaders of the Caracara.
Speaker 3 He says his interest in the San Jose began back in the 1990s.
Speaker 3 The movie Titanic had just come out. There were documentaries about it, and one of those documentaries made a reference to the San Jose.
Speaker 3 And he was like, wait, that's a ship that we, the Caracara, have a connection to.
Speaker 3 He says a lot of the silver and gold on the ship came from their land.
Speaker 2
Potosi is home to mines, gold, and silver. One of the world's largest silver deposits was in Potosi.
Tata Samuel says he became kind of obsessed with the San Jose.
Speaker 3 He says his community had documents dating back to the 1500s, including ones that showed what was on board the San Jose when it left Potosí.
Speaker 3 A whole lot of silver and gold that was mined by his ancestors. Possibly the same coins that Mike Purcell spotted scattered about the seafloor.
Speaker 2 The circumstances under which this mining took place were terrible. Spain had a horrific system of forced labor,
Speaker 2 mistreatment, suffering, humiliation, human exploitation.
Speaker 3 There are estimates that over 8 million indigenous and African people died there as they worked the mines during Spanish colonialism.
Speaker 2 What Tata Samuel wants is an acknowledgement that the silver and gold mined in Potosi belongs to them.
Speaker 2 If there's any financial gain that comes from what's on board the San Jose, he wants to be sure that the Caracara benefit.
Speaker 3 He says the Caracara owned the silver and gold mined during the years of colonialism.
Speaker 3 If it's silver from Potosi, it has to come back. Or it has to fund reparations for the Caracara.
Speaker 2 Tatas Amuels traveled to Colombia to meet with government officials to make his case. And he says they seem open.
Speaker 2 As for Spain,
Speaker 2 He says if they want to, they can claim their cannons, their wood, if it even still exists.
Speaker 3 This isn't just about the San Jose. In his research, he's found that there were all these other sunken ships with silver and gold that he says the Caracara have a right to.
Speaker 3 This ship could be an example, could set a precedent.
Speaker 2
Last year, some other indigenous groups in Bolivia said they have a claim too and wanted to be part of his cause. Tata Samuel was like, Yeah, great.
The more, the merrier.
Speaker 3 So, the Colombians, the Spanish, the Caracara, they all seem to have pretty valid claims to the San Jose.
Speaker 3 But guess who else also has a claim to the San Jose? A bunch of American businessmen. That's after the break.
Speaker 1
This message comes from LinkedIn Ads. One of the hardest parts about B2B marketing is reaching the right audience.
That's why you need LinkedIn ads.
Speaker 1
You can target your buyers by job title, company, role, seniority, and skills. All the professionals you need to reach in one place.
Get a $250 credit on your next campaign so you can try it yourself.
Speaker 1 Just go to linkedin.com/slash nprpod. That's linkedin.com/slash nprpod.
Speaker 1 Terms and conditions apply only on LinkedIn ads this message comes from apollo global management who believes the global industrial renaissance is transforming the world over the next decade industries like energy infrastructure and technology will need an estimated 75 to 100 trillion dollars to modernize and meet demand long-term projects need long duration capital that's where apollo steps in with scale flexibility and a focus on growth they're partnering with companies to drive the future one innovation at a time learn more at thinkitnew.com slash renaissance.
Speaker 1 This message comes from the International Rescue Committee. Co-founded with help from Albert Einstein, the IRC has been providing humanitarian aid for more than 90 years.
Speaker 1 The IRC helps refugees whose lives are disrupted by conflict and disaster, supporting recovery efforts and responding within 72 hours of crisis. Donate today by visiting rescue.org slash rebuild.
Speaker 2 So far, we've talked about three groups who are claiming the San Jose shipwreck. Colombia, Spain, and the Caracara.
Speaker 2 But there is this other group whose claim is throwing a wrench in the proceedings of all the others. They call themselves the Sea Search Armada.
Speaker 3 And their claim goes back to the 1980s, when shipwreck treasure hunting was kind of having a moment in all of the bodies of water where wooden chests full of gold coins might be found.
Speaker 3 All these private companies were out there searching for treasure.
Speaker 2 And one of those groups out there searching was a pair of American businessmen, both named Jim, who pooled together millions of dollars from investors to look for the San Jose.
Speaker 2 In 1981, they say they found pieces of wood that looked like they'd been blown up, cannons, artifacts. So they told Columbia the secret coordinates where they had found evidence of a shipwreck.
Speaker 3 Now, their impression was, under Colombian law at the time, that entitled them to 50% 50% of whatever they found. They find it, they get to keep it, right?
Speaker 2 But almost immediately, they say the Colombian government started changing the rules. So C-Search Armada sued all the way to Colombia's Supreme Court.
Speaker 3 But in 2020, Colombia passed another law saying, actually,
Speaker 3 everything on that ship is cultural patrimony. No one can sell it, which means C-Search Armada would get 50% of nothing.
Speaker 3 So, Cesarge Armada sued Colombia anew.
Speaker 10 Yeah, the public transmission has started.
Speaker 11 Microphone, please.
Speaker 3 Last year, more than 40 years after they say they found the San Jose, they took their case to the Permanent Court of Arbitration.
Speaker 11 This is the first of two days of public hearing on jurisdiction between C. Serge Armada, LLC,
Speaker 11 and the Republic of Colombia.
Speaker 3 This court exists exists to resolve international disputes. It's the place the world goes when a government and a business interest disagree.
Speaker 3 In this case, C Search Armada is arguing that Colombia is in violation of the free trade agreement between Colombia and the United States.
Speaker 2 And the fight in this court kind of encapsulates the four decades of C Search Armada's dispute with Colombia.
Speaker 2 CSearch Armada's lawyers say Colombia gave us permission to search a little area, and we found the San Jose in that area, which entitles us to half of what we found.
Speaker 10 The rights, and the Supreme Court confirms this, the right to treasure is acquired by its discovery.
Speaker 3
Columbia's lawyers say what they have been saying to the Sea Search Armada. You never found it.
There was nothing in your coordinates or anywhere close.
Speaker 3 By the way, Colombia's lawyers declined to comment for this story. There's this one exchange that I really love between first one of Columbia's lawyers and then one of the arbiters.
Speaker 3 Columbia says Caesar Armada is trying to claim a zone that is way too big, miles wide.
Speaker 10 They're saying that they are entitled to the discovery area, which includes the Galley of San Jose, but may include other of the hundreds of shipwrecks that are supposed to be located in that particular area because it is well known that it's an area full of shipwrecks.
Speaker 10 And mermaids and other
Speaker 10 underwater species. I don't know why I'm hunting.
Speaker 10 We have beautiful ribs, which is the reason why there are so many shipwrecks as well.
Speaker 10 But our position
Speaker 10 is that even
Speaker 10 if it is true that the Galeon is locating those coordinates, this is not how it works. C.
Speaker 2
Serge Armada says, yeah, that is how it works. The ship blew up and it's been floating around on the seafloor for 300 years.
It's gonna be spread out by now. C.
Speaker 3 Serge Armada's case before the tribunal court will reconvene at the end of this year. This whole thing is now going on year 44.
Speaker 2
Okay, so everybody has a claim. Colombia and the group that financed Mike Purcell's voyage.
Spain, the Caracara, C-Search Armada. Because since the San Jose sank in 1708, power has shifted so much.
Speaker 2 The way we think about territory and lands and ownership has shifted. And we are left trying to use today's tools to resolve something that started hundreds of years ago.
Speaker 2 This is all really complicated.
Speaker 3 And if you're wondering why nobody has just gone and brought the San Jose up from the seafloor, it's partly for legal reasons the Sea Search Armada has an injunction, but also because in the years after it was found, there was a giant Colombian naval ship floating over the San Jose, guarding it.
Speaker 3 Maybe the simplest possible way to claim it.
Speaker 3 This episode of Planet Money was produced by Sam Yellowhorse Kessler with help from Willow Rubin and edited by Keith Romer.
Speaker 3 It was fact-checked by Sierra Juarez and engineered by Neil Rauch with help from Robert Rodriguez. Alex Goldmark is our executive producer.
Speaker 2 Thank you to Nicolette Kahn, Carla Ron Phillips, Leonardo Moreno Alvarez, Jose Maria Lancha, and Mariano Javiel Azmar Gomez.
Speaker 3 And before we go, we just want to say a big thank you if you are one of the listeners who answered the call in the last few months and supported our show by signing up for NPR Plus.
Speaker 3
That support is so important to keeping our work going, so thank you. And if you heard about NPR Plus but aren't supporting us yet, it is really easy to sign up.
Just go to plus.npr.org.
Speaker 3 I'm Mary Childs.
Speaker 2
I'm Erica Barris. This is NPR.
Thanks for listening.
Speaker 1
This message comes from Vanta. What's your 2 a.m.
security worry? Is it, do I have the right controls in place? Or, are my vendors secure? Enter Vanta.
Speaker 1 Vanta automates manual work so you can stop sweating over spreadsheets, chasing audit evidence, and filling out endless questionnaires.
Speaker 1
Their trust management platform continuously monitors your systems, centralizes your data, and simplifies your security at scale. Get started, advanced.com.
That's v
Speaker 1 a dot com.
Speaker 1 This message comes from Solodyme. Yesterday's approach to storage can't meet the demands of today's AI ambitions.
Speaker 1 Bigger, faster, and more energy efficient, SolidDyme solid-state storage solutions are optimized for AI. Learn more at storageforai.com.
Speaker 5
This message comes from Mint Mobile. Starting at $15 a month, make the switch at mintmobile dot com slash switch.
Forty five dollar upfront payment for three months.
Speaker 5
Five gigabyte plan equivalent to fifteen dollars a month. Taxes and fees extra.
First three months only. See terms.