A treasure hunter was ready to retire. Then he found hundreds of coins.

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The coins will be distributed between the treasure hunting company and the state of Florida in May.

Mike Penninger thought his treasure-hunting days might be over. After 30 years of exploring wrecks off the Atlantic coast, surfacing with coins, rings and other artifacts, the 71-year-old Florida diver and boat captain was about ready to hang up the scuba suit.century shipwreck.

“We’ve all been doing this long enough that you can tell,” said Gitschlag, 32, of Clinton, Miss. “Spanish coins of that era were very distinctive, all irregular shapes. People don’t even think they’re coins because they don’t look like a coin.” How much the coins are worth is so far unclear, in part because they haven’t yet been restored from their centuries-long stay at the bottom of the ocean.

“It’s so fun to be the first one to hold in such a long time, and tied to such an incredible event,” he said.

 

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