|As found in 2007 (People's Daily, China)|
The coins have been in the possession of the US Marshal Service during the legal battle.
"It's a terrific and much deserved victory for Spain. The Court has clearly and strongly affirmed everything we set out to prove," said James Goold, Spain's lawyer who led the legal battle.
In the decision, the federal appeals court states that "releasing the [treasure] to Odyssey rather than Spain would be inconsistent with Spain's rights under the 1902 Treaty of Friendship and General relations between the United States of America and Spain."
The Peruvian government also joined the legal battle for the coins because it claimed that they were minted there when Peru was a Spanish colony.
"Because the cargo aboard the Mercedes is treated as part of the shipwreck of the Mercedes for sovereign immunity purposes, the Mercedes' immunity precludes Peru's attempt to institute an action in United States courts against any part of the Mercedes or any cargo it was carrying when it sank," Wednesday's ruling stated.
Twenty-five relatives of the passengers on board the ship when it sank also filed a counter claim, which the US Court of Appeals has rejected.