Spanish Treasure along the St. Mary's River in Georgia

A news article from the New York Times in December of 1911 talks about residents of Coleraine, Georgia digging for gold along the St. Mary's River between Coleraine and King's Ferry.  They apparently had built a levee near Coleraine which was the location of the old Creek Indian Confederacy, a trading post, and British military outpost, to hold back the waters so they didn't interfere with their treasure search.  During the Spanish occupation legend tells of a ship being blocked by Indians who had built a barricade with large logs across the river channel.  The story says the Spanish were trapped so they sunk the ship, buried the treasure in the swamps, and fled.  Ruins of what was believed to be the Spanish headquarters at the time have been searched numerous times by local inhabitants and treasure seekers, but only Indian relics have been found and recovered. 

Gold coins have washed up downstream sporadically around the Amelia Island area at the delta of the river which may be remnants of this treasure.

Also, in the publications "Shipwrecks of Florida," by Steven Singer and "Skin Diver" from 1983 there are stories of gold and silver coins that date to the late 1700s found at King's Ferry in the 1960s and 1970s.