$1 million worth of treasure found off Florida coast (video)

Schmitt family discovered the 300-year-old treasure on Spanish shipwreck

$1 Million in 300 Year Old Treasure Recovered Off Florida Coast

A team of treasure hunters from Florida have discovered a wealth of gold that is thought to have been sitting on the floor of the Atlantic Ocean for the last 300 years.

The treasure sank to the bottom of the ocean almost 300 years ago to the day having been lost on July 31, 1715.

The Schmitt family were the ones lucky enough to uncover these glittering artefacts and the footage above shows the moment they were uncovered.

See also: British shipwreck found in Arctic 170 years after it vanished

We're not surprised there are exclamations of shock and surprise throughout the film.

According to the Telegraph, Rick and Lisa Schmitt and their two children and daughter-in-law hunt for treasure regularly from their boat Aarr Booty.

The treasure is believed to have come from a 1715 Spanish fleet that sank in the Atlantic Ocean.

Rick and Lisa's son, Eric, discovered the gold in June but the announcement has been kept back until this week to coincide with the anniversary of the wreckage.

Brent Brisbane's company, 1715 Fleet - Queen's Jewels LLC, own the rights to the wreckage having bought them off the family of treasure hunter Mel Fisher.

Around 20 per cent of the find will be acquired by the state of Florida and will be displayed in a museum. The remainder of the find will be split between Mr Brisbane and the Schmitts.

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