Underwater Treasure off the Coast of Caesarea https://mosaicmagazine.com/picks/history-ideas/2015/02/underwater-treasure-off-the-coast-of-caesarea/

February 19, 2015 | Israel Antiquities Authority
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Divers in the ancient harbor near the Israeli city of Caesarea have discovered nearly 2,000 gold coins on the seabed. Experts date them to the 11th century, when the Fatimid dynasty ruled Egypt and the land of Israel:

According to Kobi Sharvit, director of the marine-archaeology unit of the Israel Antiquities Authority, this is fascinating and rare historical evidence of life in the past which was exposed during winter storms. “The discovery of such a large hoard of coins that had such tremendous economic power in antiquity raises several possibilities regarding its presence on the seabed. There is probably a shipwreck there of an official treasury boat which was on its way to the central government in Egypt with taxes that had been collected. Perhaps the treasure of coins was meant to pay the salaries of the Fatimid military garrison which was stationed in Caesarea and protected the city. Another theory is that the treasure was money belonging to a large merchant ship that traded with the coastal cities and the port on the Mediterranean Sea and sank there.”

Read more on Israel Antiquities Authority: http://www.antiquities.org.il/article_eng.aspx?sec_id=25&subj_id=240

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