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Five hundred years ago, no one suspected the 16th-century vessel the Nao Victoria would become the stuff of legend. In 1519, a Portuguese consul called the Spanish carrack “very old and patched up” and unfit to even “sail … to the Canaries.” Nevertheless, the Nao Victoria was chosen for a five-ship expedition, crewed by 270 men, that would come to be known as one of the most significant journeys in the history of human exploration. The captain of this unprecedented adventure was Portuguese explorer Fernão de Magalhães, anglicized Ferdinand Magellan. On September 20, 1519, he set sail aboard the flagship...

The real story goes something like this: In 1511, messy political squabbling forced Ponce to surrender the governorship of Puerto Rico, an appointment he had held since 1509. As a consolation prize, King Ferdinand offered him Bimini, assuming the stalwart conquistador could finance an expedition and actually find it. J. Michael Francis, a historian at the University of South Florida, St. Petersburg who has spent decades studying the Spanish colonies in the Americas , says no mention of a Fountain of Youth occurs in any known documents from Ponce’s lifetime, including contracts and other official correspondence with the Crown. In...