Transcript for Colombia Claims to Find Multi-Billion Dollar Shipwreck
We're back now with a 300-year mystery that appears to finally be solved. A Spanish ship with millions of koips worth billions of dollars has been found. Could be the largest sunken treasure ever. T.j. Holmes has the details. Reporter: The Colombian government is sure they've found the ship. Before they can fawn over it, they're going the fight over it. You're talking about tens of billions of dollars in treasure, it gets more complicated than finders keepers. The crown diamond was to be cut in a heart-like shape, today it would be worth more than the hope diamond. Reporter: Me contested than the cursed gold of pirates of the caribbean. The cursed treasure of Cortez himself. Reporter: You're looking at the first image of what could be the richest sunken treasure discovery ever made. Colombia's president says his country found the San Jose. One of the biggest findings and identification of underwater heritage in the history of humanity, he claims. The answer to a 300-year-old mystery. The loot, estimated between $3 billion and $17 billion. The San Jose went down during battle in 1708 off the coast of Columbia. The government says the ship found laying on its side, identified by its unique bronze cannons with engraved dolphins. A court might have to determine who tons rights. A u.s.-based salvage company says it found the resting place 30 years ago but the Colombian government reneged on an agreement to split the pressure. This fight going on 30 years already. The government passed a law of a 5% finder's fee, which would have to be taxed 45%. The salvage company is about to fight for T it. $17 billion. Wow. Let's go diving, George. You have a twinkle in your eye. Gold.
This transcript has been automatically generated and may not be 100% accurate.