India, Oct. 5 -- In a remarkable discovery, divers off the east coast of Florida recovered gold and silver coins worth $1 million from a Spanish fleet that sank in 1715 after a hurricane. Reportedly, as much as $400 million worth of gold, silver, and jewels were lost when the convoy faced the tragedy 300 years ago.

Shipwreck salvage company 1715 Fleet - Queens Jewels LLC, which conducted the Florida state-sanctioned search, announced that Captain Levin Shavers and his crew recovered "1000 silver coins known as Reales." The team also unearthed "5 gold coins called Escudos," besides "other rare gold artifacts." The divers found the coins preserved beneath sand and sea for centuries.

The discovered treasures are part of the New World riche...