Who Owns (Found) Sunken Treasures?

Factual Questions
1

Recently, it was in the news that a team found some sunken ship off the coast of Savannah, GA. It contains a treasure of gold coins worth some ridiculous amount today (US $$$). Who has the rights to the treasure? The team? Historians? US Gov?

Also, I wonder: Are the coined valued at such a high price for the gold alone, or moreso because these coins are so rare?

Aaaarrr, matey! How does this all work?

  • Jinx
2

As a WAG, I’d say it would depend on whether the state or the U.S. Government wanted to assert rights under recent UN conventions concerning “historic places” or not. There was a case in 1997 where California went down that road over a found treasure.