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An expedition to find the “Holy Grail” of shipwrecks containing millions of gold coins and emeralds valued at $20 billion has begun.

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There has apparently been a long-awaited dive into a shipwreck from the eighteenth century in the Caribbean Sea. Last Monday, the Colombian government began the deep-water exploration of the San José shipwreck, which is thought to include billion-dollar worth of cargo.

The galleon was ambushed by an English squadron in 1708 while sailing to Cartagena, Colombia, and eventually destroyed. According to historians, just a small number of the ship’s 600 passengers survived. It is estimated that the shipwreck holds 11 million gold and silver coins, as well as valuable goods like emeralds.

When the San José sunk while en route to King Philip V of Spain, it was bearing chests filled with jewels and gold cash. Before it was found in 2015, the shipwreck, which is located at a depth of about 600 meters, had a legendary reputation. Its enormous collection of treasures earned it the moniker “Holy Grail of Shipwrecks.”

Through the use of robotic technology mounted on a military vessel, oceanographers have managed to map the shipwreck. Several coins can be seen laying at the bottom of the shipwreck in photos that the robotic equipment has taken of the wreck. Photographs of some of the coins with seashells strewn across the ocean floor have been taken.

The Colombian government declared in February that it would be investing $45 million in the exploration. According to reports, the treasure may be valued up to $20 billion. The goal of the trip, according to Colombia’s minister of culture, is to “claim the heritage elements for which the remains of the galleon should be valued.” According to Minister Juan David Correa, “History is the treasure.”

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