11/12/2026
Before modern navigation, the dangerous Florida Reef made the Florida Keys a hotspot for shipwrecks—and Key West a hub of incredible wealth. Local wreckers raced to rescue stranded crews and recover valuable cargo, which was inventoried and sold at public auctions through a highly regulated federal Wreckers’ Court. The reward was substantial: salvors received 25% to 50% of the cargo’s total cash value, helping transform Key West into one of the wealthiest cities per capita in the United States during the 1830s and 1840s.