After 400 years underwater, this priceless treasure has finally been found—and more may still be waiting

More than 400 years after a Spanish treasure galleon sank in a hurricane, divers have recovered a rare 22.5-pound silver bar from the wreck site of the Nuestra Señora de Atocha off the Florida Keys, marking the first silver bar recovered from the historic shipwreck in nearly three decades. The discovery was made by Mel Fisher's Shipwreck Expeditions during an ongoing salvage mission near Key West.

The silver bar was found about 50 feet below the surface after divers aboard the salvage vessel DARE detected what was described as a "very strong target" using a metal detector. Captain Drake Nicholas and his crew carefully excavated the object by using an airlift to remove layers of sand and sediment without damaging the artifact, according to Fox News Digital.

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Treasure found

The Nuestra Señora de Atocha was part of Spain's treasure fleet when it sank during a hurricane in 1622 while transporting gold, silver, emeralds and other valuable cargo from the Americas to Spain. The wreck became one of the world's most famous underwater treasure sites after legendary treasure hunter Mel Fisher's team discovered its "Mother Lode" in 1985. Despite decades of exploration, experts believe much of the treasure still remains buried beneath the seafloor.

Metal detector signaled

Sean Browne, Head of Investor Relations for Mel Fisher's Shipwreck Expeditions, said the recovery required meticulous work after the metal detector signaled an unusually strong target.

"The crew used an airlift to remove layers of sand and sediment while working slowly around the target," Browne told Fox News Digital.

Although the silver bar was heavily covered in marine growth after centuries underwater, Browne said it survived in exceptional condition.

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"Despite the marine growth, the bar remained remarkably intact," he said, adding that it is currently undergoing conservation to remove the accumulated encrustation.

The latest find has renewed excitement among historians, archaeologists and treasure hunters alike. Experts believe hundreds of silver bars and thousands of artifacts may still lie hidden beneath the sands surrounding the Atocha wreck site, ensuring that one of history's greatest maritime treasure hunts is far from over.