Spain's collapse of colonial power seen through prism of sunk galleon Dr Kingsley, the co-author of a report into the findings that is published today, added: "Its loss broke the Bank of Madrid at a time when there was 300 per cent inflation in Spain and it was in serious debt for its endless wars. Spain never recovered. The finds, which will go on display at Odyssey's Florida headquarters, were first brought to the surface during 1990-1991 and include examples of the more than 6,000 pearls that were scattered over the shipwreck site. The pearls were produced by an oyster that was near extinction at the time, the first creature to be exploited to death in a trade which cost the lives of an estimated 60,000 Caribbean divers enslaved by the Spanish. The wreck also shed light on the trade in parrots, which were sought after in Europe as pets, and the first ever bones of a since extinct species, a type of blue headed conure, were brought up from the deep. Odyssey Marine Exploration was last year ordered to return the treasure retrieved from another sunken Spanish ship, the Nuestra Senora de Las Mercedes, to the Spanish government following a prolonged legal battle. That trove of gold and silver coins, the biggest find to date and valued at around £300m, is currently on display at a museum in Cartagena, Spain.