Adventurous Florida Family Finds Buried Treasure

The Schmitt family found nearly a half million dollars worth of riches off the east coast of Florida
1:48 | 09/04/13

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Transcript for Adventurous Florida Family Finds Buried Treasure
Now, to a story about a family in florida whose love of diving for sunk treasure has paid off. And I mean, in a very big way. Take a look. They may hunt for buried treasure and sail the ocean blue. But don't mistake the bearded men of aarr booty for pirates. And the modern-day mates have hit the motherlode. We've never seen this kind of treasure, ever. Reporter: On sunday, the schmitt family who has been researching for gold off the coast of from florida every day for 13 years, discovered gold chains, three large coins and a ring, just 1,000 feet offshore. An estimated $500,000 worth of riches. I'm thinking here comes another aluminum can. And out pops a small gold coin. Reporter: An artifact they claim dates back 300 years. Their wreckage, now scattered along the ocean floor. And I see three piles of gold chains. Reporter: The treasure, that's been authenticated by archaeologists is the biggest deep sea discovery the family's ever made. And is just the tip of what is believed to be a massive gold mine off the florida coast. We estimate there's over $400 million worth of treasure remaining off the treasure coast of florida. Reporter: And the schmitts found even more. Uncovering this porcelain on tuesday. Part of their riches will go to the state. Even pirates pay tax. But the law-abiding looters are keeping the treasure close to their chests. Hoping to pass it down to future generations. It's about history and it's about the hunt. It's a little about the money. 400 million down there. A little about the money.

This transcript has been automatically generated and may not be 100% accurate.

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