The 1975 film "Sharks' Treasure" is about a hunt for a Spanish treasure shipwreck in the Gulf of Mexico off the coast of Honduras. Jim Carnahan owns a small ship and was known for locating a Spanish treasure ship. A young man Ron Walker, shows Jim a Spanish gold doubloon and tells him that he found it and evidence of a shipwreck off the coast of Honduras. The two men hire two divers and the crew of four set out to find the underwater treasure. After locating some items from the shipwreck, their ship is boarded by pirates who order the men to continue bringing up treasure. The film was produced, written, and directed by 1940's film actor Cornel Wilde who portrayed the captain. Spanish gold doubloons of the "cob" type are shown throughout the film. These are most likely prop coins or imitation doubloons which are readily available. They are called "cob" coins because they were crudely made by chopping pieces of gold off the ends of gold bars which were then struck by coin dies. A Spanish word for "end" was "cabo" which became "cob" in English.

Ron Walker approaches Jim Carnahan, the owner and captain of the ship "Moby." Carnahan was in the news previously for locating a Spanish treasure ship

Ron shows Jim a gold doubloon and tells him that he found it while diving off the coast of Honduras.

Jim borrows the coin and takes it to the local library.

The librarian sits in back with a sign which reads "QUIET." Jim is looking at a numismatic and shipwreck references and finds the coin in one.

He compares the coin with an illustration and they match.

Jim and Ron decide to search for the shipwreck and hire two more divers, Ben Flynn and Larry Hicks.

The four visit a local bar where the proprietor asks them if they can take five men on a trip. Jim turns him down and is later informed by a local policeman that five escaped convicts are in the area. The proprietor's pretty daughter seduces Ron and who tells her where they are headed. She tells her father who is related to one of the convicts, the convicts then get a boat and follow Jim's ship. Jim's crew arrive at the area and begin diving.

The divers find evidence of a Spanish shipwwreck. They also find lots of sharks.

The metal items have survived being under the ocean for hundreds of years.

A diver then locates a gold coin.

The divers bring down a device like a large vacumn cleaner and start finding items which they load into a basket.

On board the ship, the men break up rocks to extract the coins.

The men accumulate some treasure.

Besides coins, they find some gold ingots and round gold plates.

While the men are in the water the pirates arrive and board the ship. When the men return the pirates appear.

There are five pirates.

The five pirates are Ishi, Pablo, Lobo (seated on the right), Juanito (lying down), and Kook (only partly visible on the right). Lobo keeps the young blonde man, Juanito, as a boyfriend and sometimes beats him. The pirates hold the crewmen hostage and send some of them back to diving for treasure. On the ship, Larry attacks one of the pirates and is stabbed. The pirates throw him into the water where he is attacked and killed by sharks.

Lobo whips Juanito and Jim manages to suggest to Juanito that if he helps the three remaining crewmen escape on a rubber boat they will take him with them. Jim is able to connect a hose from the engine exhaust to the pirate's room causing them to fall asleep.

The four men get into the rubber boat with the gold coins and paddle away.

The pirates wake up and also set out in the wooden boat which they came in.

Jim's boat is capsized by a whale shark sending the treasure back into the ocean. Both boats land on the shore and after some gunfights the pirates are eliminated and the three original crewmen head back to the ship.

Jim tells the other two that he found out that the Spanish ship which they found was accompanied by another treasure ship and suggests that they go back and search for the second ship.

Cornel Wilde as Jim Carnahan
John Neilson as Ron Walker
Yaphet Kotto as Ben Flynn
David Canary as Larry Hicks
Cliff Osmond as Lobo
David Gilliam as Juanito (Lobo's boy)
Director: Cornel Wilde
Writers: Cornel Wilde