I've been keeping track of the San Jose story while I was on vacation. Many news organizations spilled a lot of electronic ink after the Colombian President tweeted in early December that the government had found the wreck. The below article from National Geographic is the best I've seen concerning the major issues impacting the galleon and its many legal considerations swirling around the discovery.

The statement attributed to Charles Beeker, Director of Underwater Science at Indiana University, "claims of ownership by right of discovery are outdated", is exactly right. Treasure hunting is one of the world's worst investments. For every tomb raider or treasure hunter who strikes it rich, there are thousands more who never find anything and end up burning through their investors' money with nothing to show in the end. Even if a wreck is found, international treaties are now so tough that the salvor's claim is quickly nullified.

Those seeking fame and fortune through shipwrecks would be better off donating their money to one of the many legitimate underwater archaeological organizations around the world. Maybe then they could achieve a little fame if not the fortune. Here's one such organization: http://maritimearchaeological.org

http://news.nationalgeographic.com/2015/12/151218-san-jose-shipwreck-tre...