Gold coins and treasure recovered from an 18th century Spanish shipwreck off Florida.
Queen's Jewels LLC/AFP/Getty Images
August 20, 2015 8:21 AM EDT

Treasure hunters in Florida have found 350 gold coins worth $4.5 million.

The coins are from a fleet of Spanish ships that sank in the 18th century, BBC reports. Brent Brisben, who owns the rights to the shipwreck, told USA Today that the coins were discovered in shallow water, about 3 feet deep just 10 feet away from the shore.

Nine of the coins are known as Royals, they were made special for King Phillip V of Spain, and they’re valued at $300,000 apiece.

According to state law, Florida will keep 20% of the value.

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