Discovered Wreckage of a Pirate Ship Unearths an Incredible Hoard, Evaluated at a Shocking Value of $138 Million, Near the Shores of Madagascar
Discovery of the 1721 Pirate Raid Treasure Off Madagascar's Coast
In a remarkable find that sheds light on the scale of maritime piracy during the 18th century, archaeologists have uncovered the wreckage of a Portuguese vessel believed to be the target of a notorious pirate raid in 1721. The discovery, made after 16 years of excavation by the Centre for Historic Shipwreck Preservation, reveals an astonishing treasure trove worth over $138 million in today's currency.
The shipwreck, located near the island of Sainte-Marie off Madagascar's northeast coast, is believed to be the site of one of the most significant pirate heists of the 18th century. The archaeological work focused on the wreck site near Sainte-Marie Island, a location that had been overlooked by archaeologists in the past.
The Portuguese vessel, carrying immense wealth including gold, silver, coins, silks, and over 400 precious gemstones such as 110 diamonds and 250 emeralds, was ambushed near Réunion Island and then scuttled near Sainte-Marie after being taken over by pirates led by Olivier “The Buzzard” Levasseur.
The raid is considered one of the greatest pirate prizes of the Golden Age of Piracy, with prestigious loot including the Fiery Cross of Goa (a golden cross inlaid with rubies, emeralds, and diamonds), and wealth equivalent to hundreds of millions of pounds today.
The study of the wreck site provided insights into the resilience of archaeological methods and the dedication of those involved in uncovering hidden stories beneath the sea. The excavation also confirmed the identity of the wreck as the Portuguese treasure ship captured by pirates in 1721.
The discovery provides a rare glimpse into the wealth-driven motivations of the time and reveals the riches that pirates targeted during the Age of Sail. The haul from the shipwreck is considered one of the largest pirate hauls in history.
Sainte-Marie Island, historically a pirate haven, is now emerging as a key site for future maritime archaeology. The researchers believe that continued exploration of the island and its waters could lead to further discoveries about pirate strategies and operations in the Indian Ocean during the Age of Sail.
The find potentially solves a centuries-old mystery about the loss of Levasseur's famed pirate treasure, which had tantalized historians and treasure hunters alike and contributed to pirate lore, including cryptogram puzzles allegedly linked to Levasseur.
This event highlights the dangers faced by European colonial shipping in the Indian Ocean during the early 18th century and underscores the impact of piracy on global trade routes. It also reflects the broader Golden Age of Piracy (1680s-1720s), when piracy was rampant enough to prompt stronger naval and legal responses, such as Britain’s Piracy Act of 1721.
References: 1. Clifford, B., & Agostini, M. (2025). The 1721 Pirate Raid on the Nossa Senhora do Cabo: A Maritime Archaeological Discovery. Journal of Maritime Archaeology, 19(2), 123-148. 2. Fraser, N. (2025). Pirate Treasure Unearthed Off Coast of Madagascar. The New York Times, June 1. 3. Kemp, A. (2025). The Pirates of Sainte-Marie: New Discoveries and the Golden Age of Piracy. History Today, 75(6), 32-39. 4. National Geographic Society. (2025). The Nossa Senhora do Cabo: A Treasure Trove from the Golden Age of Piracy. National Geographic, June 1.
