Since Columbus's first expedition in 1492, Spain has been acquiring valuable resources and specialties from the New World. 1520 years later, in order to cope with the increasing private looting and pirate attacks, Spain decided to organize the scattered transport ships into two large fleets that sailed regularly and were equipped with heavy weapons. Both fleets set sail from Seville (1707 after Cadiz), carrying European goods (later slaves), one of which went to Cuba and Mexico, and the other to the South American continent (mainly berthed in Cartagena and Portobello). After the completion of trade and cargo handling, the two fleets will meet in Havana, Cuba and return to Europe.

By sending regular ships, Spain actually controlled the trade between the mainland and the colonies. In Spanish law, the colony itself can only trade with designated local ports. However, because many Spanish businessmen or businessmen from other countries smuggled, the goods actually shipped to Spain far exceeded the recorded quantity.

This monopoly lasted for more than two centuries, making Spain the richest country in Europe. The Habsburg dynasty of Spain used these wealth to wage wars frequently in the 16 and 17 centuries, and its opponents included the Ottoman Empire and most major European countries (except the Holy Roman Empire). However, the influx of colonial precious metals eventually triggered the price revolution in Europe in the17th century, which gradually destroyed the Spanish economy and reduced the output of precious metals in America.

In 1550, there were only 17 ships in the treasure fleet, but by the end of 16, there were more than 50 Spanish galleons. /kloc-In the middle and late 7th century, the number of ships decreased to half of the peak period and continued to shrink. However, in the last decade of the17th century, due to the recovery of trade and economy, the fleet expanded again and continued until the Spanish Bourbon Dynasty in the18th century.

From17th century to the middle of18th century, Spain's American colonies and West Indies were constantly attacked by their colonial rivals, which made Spain's shipping routes always threatened: Britain acquired Saint Kitts in 1624 and occupied Jamaica in 1655; 1625 France captured Santo Domingo (French Santo Domingo, now Haiti); The Netherlands occupied Cura? ao in 1634. 1739, British Admiral edward vernon attacked Portobello. 1762 Britain occupied Havana and Manila, forcing Spain to temporarily abandon the mode of organizing large transport fleets. However, with the return of Havana and Manila to Spanish control in 1764, the treasure fleet resumed sailing in the Atlantic and Pacific oceans.

1765, Spanish king Carlos III began to gradually relax trade controls. After 1780, Spain started colonial free trade. 1790, the organization responsible for colonial trade was closed, which was also the last year of the regular voyage of the treasure fleet, and the subsequent transportation tasks were undertaken separately by naval vessels.

Although many people think that a large number of Spanish transport ships have been detained by British or Dutch smugglers, in fact, only a few ships have suffered this fate. Only Piette Hein, a Dutchman, successfully captured the Spanish treasure fleet in the naval battle of matanzas Bay in 1628 and shipped the goods back to the Netherlands safely. 1656 and 1657, the British robert blake destroyed the fleet in the Battle of Cadiz, but most of the goods on board were carried ashore by the Spanish. 1702, the treasure fleet was destroyed again in the battle of Vigo Bay, but most of the goods were safely transported to land by the Spanish. All these battles took place in coastal bays, and none of them took place on the high seas. As for the Manila fleet, only four ships have been captured in history. Although the battles and storms (1622, 17 15 and 1733) caused some losses, on the whole, Treasure Fleet is still the most successful large-scale naval operation in history.

Those Spanish treasure ships that sank due to battles or storms have always been the main targets of modern treasure hunters and fishermen, and some of them have been successfully salvaged and reappeared in the world.