"While a final $1 dollar coin design has not yet been selected to commemorate the United States' semiquincentennial, this first draft reflects well the enduring spirit of our country and democracy, even in the face of immense obstacles. We look forward to sharing more soon," the statement continued.

Gold and silver coins worth about $1 million are found in Florida waters from Spanish ships that sank in a 1715 hurricane while returning from the New World.