Divers Locate ‘Reef of Silver’ From Galleon

After 16 years tracking the watery grave of a 350-year-old treasure-laden Spanish galleon, salvagers Saturday reported that they have found the bulk of the riches, which they say may be worth $400 million.

“Today it looks like we came to the end of the rainbow and the pot of gold,” said Mel Fisher, 63, owner of Treasure Salvors. “It’s been a gigantic 16-year puzzle. The feeling today is . . . like when you put in the last piece.”

Bleth McHaley, vice president of Treasure Salvors, said: “The captain said he found a reef of silver bars and more coins than they can even see.”

McHaley said the manifest of the Nuestra Senora de Atocha, which sunk in a 1622 hurricane, listed up to 1,200 silver bars. At today’s prices, the treasure is worth $400 million, she said.

“Put the charts away--we’ve got it! Silver bars . . . we’ve got it!” the captain of one search ship screamed over a radio to McHaley as she talked to a reporter.

In late May, Fisher found about $2 million worth of gold, pieces of eight, silver and gems but said the main treasure had eluded him.