5/24/16 Report - Mexico Two-Escudo Just Recovered by Crew of Capitana. Gold and Diamond Modern Find. Another Small Ring.

Written by the TreasureGuide for the exclusive use of treasurebeachesreport.blogspot.com.

William B. On Deck of Capitana Showing The Newly Recovered Two-Escudo
Photo submitted by Captain Jonah

As I said yesterday, the salvage season has started well.  The Capitana crew struck gold on the third day out.  Below are close-ups of the find.

Mexico Two Escudo
Photos submitted by Captain Jonah Dan B.

Thanks much for the photos guys!  And congratulations on a great beginning of a new season!

In the top photo you can see a good clear mint mark and denomination.  Very clear and nicely centered cob.

---

Gold and Diamond Ring Find
Find and photo by Tony M. (penzfan)

South of the Treasure Coast, Tony M. is still in the gold.  Here is a nice 10K ring with five small diamonds.   

Thanks for the nice photo and congrats on the find Tony.

---

Old Silver Ring
Find and Photo by Bernie C.

Yesterday I showed two more old small silver ring finds by Bernie.  They are thought to be early 1700s trade goods.

On the Treasure Coast there is so much talk about the treasure ships of the 1715 Fleet that it is easy to forget that there were ships arriving from Spain to supply many of the things that the colonists in the New World needed.  Here is a little overview of the transatlantic economy.   

(Here is the source link.  http://www.shmoop.com/spanish-colonization/economy.html)

At first, everything the Spanish needed in the New World was shipped from Spain. Food, nails, weapons, paper—everything. Before 1600, theencomenderos and other Spaniards paid for all these trade goods with gold and silver, and occasionally some foodstuffs like chocolate, corn, and potatoes. After 1600, things began to change. A critical mass of Spaniards meant that the major population centers of Mexico City (Mexico), Lima (Peru), and Vera Cruz (Mexico) began to produce some of these items for themselves. But the Crown wasn't thrilled with this; not unlike the English a century later, Spain wanted to keep its colonies as colonies. Among other measures to keep the colonies subservient to Spanish control, the making of paper was prohibited in the New World. This proved problematic, since the Spanish government depended on paper, and more paper and more paper. The eventual shortage got so serious that by the early nineteenth century,legal documents were crossed out and reused repeatedly.

And in an age where no one went anywhere without sailing ships, the Spanish made sure that there was no colonial production of goods such as canvas for sails, hemp for rope, and tar for sealing ships. Nonetheless, as always happens with these things, the Spanish economy suffered as a trade imbalance grew with the New World. In other words, since Mexico and Peru began producing clothing and other goods for themselves, there was little demand for Spanish products and Spanish merchants couldn't finance the purchase of all that silver.

---

The water has been nice and smooth lately.  It will get just a touch rougher for a few days, but not much - something like two or three feet.  That is due to a little weather off the coast that could possibly develop a little.

Happy hunting,
TreasureGuide@comcast.net