Ring worth $500,000 recovered from sunken ship

The ring - measuring 4.5 cm by 4.7 cm - was found by divers at the remains of the Nuestra Señora de Atocha ship that sank in 1622.

Divers also recovered several silver objects off the coast of Key West, said Mel Fisher's Treasures, the company that owns the rights to the ship.

A large part of the treasure, made up of more than 100,000 silver coins and valued at $450 million, was discovered in 1985 by treasure hunter Mel Fisher, who died in 1998 at the age of 76.

Fisher's descendents, who own the rights to the shipwrecked galleon, continue their search for the rest of the treasure.

It is estimated that some 400 silver ingots and more than 100,000 coins from the Atocha could still be at the bottom of the sea.

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