Archaeologists say they've discovered the site where a ship, which was part of Portuguese explorer Vasco da Gamma's fleet, sank off the coast of modern-day Oman in 1503.

They say debris discovered off Oman's al-Hallaniyah Island includes an incredibly rare silver coin called an Indio, of which only one other is known to exist. They believe the wreckage likely comes from a ship called the Esmeralda, which sank in a violent storm in May 1503, killing all onboard.

The archaeologists announced their findings in an article published by The International Journal of Nautical Archaeology.

Ayoub al-Busaidi, the supervisor of marine archaeology at the Oman Ministry of Heritage and Culture, told The Associated Press on Tuesday that the discovery also shows the long history of his country in international trade.