In February 2015, divers off the coast of Caesarea spotted by chance a group of gold coins lying on the seabed. After alerting marine archaeologists of the Israel Antiquities Authority, a preliminary salvage excavation was conducted at the site and more than 2,600 Fatimid period gold dinars and fractions recovered, weighing a total of c. 7.5 kg. The coin's location and accompanying artifacts suggested that the coins originated from a shipwreck. The article gives a first insight into the hoard's content after two years of intensive identification work, presents some preliminary conclusions as for the reasons for its loss and offers some new insights into the circulation of Fatimid coinage in southern Bilad al-Sham.