You guys are exactly right. “Treasure Hunters” are going back underground. What they find will go to “treasure friendly” nations and the only way it ever finds its way into the United States is by the black market.
People will still go find this stuff, but the Spanish will never get any of it.
And the claim by descendants of the crew? Give me a break. The crew never had title to it to begin with. Government of Peru? Peru was owned by Spain when the stuff was dug up.
I have just as valid a claim on the gold as some of these people.
I don’t think the issue should even be decided based on who originally owned it. The homesteading principle provides for re-homesteading of property that has been abandoned. It should simply be a matter of finders keepers.