A treasure-hunting family found what they were looking for this past Labor Day weekend when they discovered a pile of gold that could be worth $300,000.

The Schmitt family uncovered a gold chain and coins off the cost of Fort Pierce, Florida. The family, who is native to Sanford, found the loot about 150 yards from the shore and 15 feet deep into the water. The family was with fellow diver and friend Dale Zeak when they found what they say is a 64 foot long gold chain weighing over three pounds, as well as a gold ring and five gold coins.

"This is like the end of a dream," said Rick Schmitt, who owns Booty Salvage, a Florida salvage company.

The $300,000 estimate came from Brent Brisben, co-founder of 1715 Fleet - Queens Jewels LLC. 1715 Fleet - Queens Jewels LLC owns the rights to dive on the wreckage site. Booty Salvage is a subcontractor of Brisben's company.

"To be the first person to touch an artifact in 300 years is indescribable," Brisben said in an interview with Orlando Sentinel. "They were there 150 years before the Civil War. It's truly remarkable to be able to bring that back."

Up to 20 percent of the findings will be displayed in Florida museums. The remainder will be split equally between 1715 Fleet - Queens Jewels LLC and Booty Salvage.

"The greatest treasure is time with the family," Lisa Schmitt, Rick Schmitt's wife told the Orlando Sentinel.

The gold is said to have come from a fleet of Spanish-owned ships that was wrecked by a hurricane on Florida's coast on July 30, 1715. During the storm, 1,000 people died, and 11 of the 12 ships were destroyed.

According to 1715 Fleet - Queens Jewels LLC's web site, piles of silver, gold and other artifacts remained on the ocean floor after the infamous storm. Some of the valuable debris has since been recovered. Many treasure seekers, however, still believe that plenty of silver and gold remain that are worth millions. As a result, the area is called Florida's Treasure Coast.

This is the first time the Schmitt family has had this scale of success with their treasure hunting.

"We're world-class recyclers," Hillary Schmitt, 20, Rick's daughter, told the Orlando Sentinel.

Hillary has been searching for treasure with her family since she was six. Typically, the family finds fishing gear and old cans which they haul onto their ship, the AARRR Booty.

Rick started diving for treasure near the Sebastian Inlet in 1964. Rick, 65, said that this is his largest discovery ever. His past treasures include a 300-year-old platter worth $25,000.

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