Diver’s Emerald Find Featured on 60 Minutes

An amateur diver who discovered a treasure trove of emeralds on the bottom of the ocean was featured on the April 22 edition of 60 Minutes.

The CBS newsmagazine devoted a third of its show to the story of real estate investor Jay Miscovich, a diver who found a “huge amount” of emeralds on the ocean floor that are estimated to be worth millions. But he hasn’t been able to profit from them yet.

“It’s not finder’s keepers, although Miscovich could have quietly sold his treasure on the black market,” the report said. “[I]t could be years before the court awards full ownership. Until then, Miscovich can’t legally sell a single stone.”

The diver ran into trouble when, the report said, one prospective seller determined that the gems had been treated, making it less likely they originated from a sunken ship.

“Some of the gems had been treated with a jeweler’s polish or epoxy, routinely used to enhance the brightness of emeralds,” the report said. “Polish that has only been in use for the past 50 years or so.”

The story included appearances by Fred Leighton CEO Greg Kwiat, as well as GIA senior vice president of laboratory and research Tom Moses, who determined the emeralds originated from Colombia.

Watch the full story.