The legend which speaks of lost riches, sunken ships and the untamed depths of the Atlantic Ocean has captivated travellers for over 140 years but so far has eluded discovery despite countless searches.
The tale of the lost treasure in the Canary Islands has its roots in history, with the remains of ancient shipwrecks filled with valuables believed to be submerged beneath the islands’ waters.
These ships, dating back centuries, are said to have been carrying gold, jewels and precious metals, now lost to the sea. While many view it as legend, some adventurers are convinced of its existence and have tried to locate it.
One of the most valuable is said to lie off the southeast coast of Gran Canaria: a chest filled with gold coins with an estimated worth of 3.4 million euros (£2.8 million). However, despite years of searching, the treasure has not yet been found.
The origins of the treasure are said to be traced back to the era of colonisation and the maritime trade routes that connected Europe, Africa and the Americas. The Canary Islands, with their strategic location along these routes, were a frequent stop for ships transporting valuable goods.
Among the wrecks is the Alfonso XII, a 110-metre steamship that sank on February 13, 1885. At the time, she was carrying 100,000 gold coins, distributed in 10 chests, meant to pay Spanish soldiers stationed in Cuba. Nine of the chests were recovered, but one, valued at £2.8 million, was never found.
While scattered coins from the ship have been discovered, speculation continues as to whether an expert diver had secretly retrieved it or if it still remains hidden on the ocean floor.
Other legends include the pirate Amaro Pargo’s treasure, which tells of the pirate leaving a will that described a box containing a large amount of wealth including gold, silver, pearls and precious items. The box was kept in his cabin and was accompanied by a book of inventory wrapped in parchment.
The treasure’s location is also unknown, but some speculate that it may be in the Cave of San Mateo in Punta del Hidalgo (a village on Tenerife) or in Pargo’s house in Machado, according to Areas Grey.