Treasure House

By Julie Tarasovic
Photos by Rob Downey

Peter and June Fallon own a piece of history on the coast in Indian River County. Famously called the Cabin Wreck by treasure hunters, the Fallons’ home is a landmark on nautical maps of the Treasure Coast. “The treasure hunters called it the Cabin Wreck and the locals called it the Treasure House because this is where they would bring the treasure, found in the ocean right in front of the house, and divvy it up. It’s on all the maps so when divers want to come to this spot, they can find it by looking for this house,” said June.

The house and the stretch of beach it’s situated on is how the Treasure Coast got its name. The Cabin Wreck is not only a beautiful and unique ocean front home, it also represents a part of history and the people who came to know and use the house for treasure hunting. It’s been talked about and depicted in many books and magazines throughout the years, including National Geographic. To talk about and describe the Cabin Wreck, a short history lesson must first be told.
It all began in 1715 when a Spanish convoy of 12 ships was hit by a hurricane as it made its way up the east coast of central Florida. All but one ship was destroyed that July day, leading thousands to their death and leaving behind $14 million in gold, pieces of eight (silver cobs), ingots and many other treasures with the sunken ships.

“In the early 1960s, a man by the name of Kip Wagner found silver coins washed up on the beach right here,” said Peter. “He soon identified the coins as pieces of eight belonging to the 1715 fleet and there began his quest for the sunken treasure.”

Wagner formed the Real 8 Company to continue pursuing the treasure hunting. Real 8 soon partnered with Mel Fisher, one of the earliest pioneers in the dive industry, to help with the search. Wagner took out state leases for promising stretches of the seabed, and together with Mel and his experienced team of divers, scoured the area, recovering thousands of pieces of treasure from the wreckage worth millions. Today’s laws requires treasure hunters to give 25 percent of whatever is found to the state of Florida.

“The Real 8 Company bought the Cabin Wreck sometime after the original owner to use as their gathering place during dives offshore,” said Peter. “When June and I first moved into the house, we began learning about the history of the house. We were fascinated. So one day, there was a knock on the door. It was Mel Fisher and his wife, Deo. Luckily we knew who he was from reading about him.”

“We had a wonderful afternoon together,” said June. “Mel told us that they would sit on the deck in front of the house, drink some rum and divvy up the gold among the treasure hunters.”

“Mel was a man with a single purpose. He was highly criticized and highly loved. He was a man truly larger than life,” said Peter. Fisher died six years ago but his legacy as the most famous treasure hunter continues on the Treasure Coast. “His daughter, Taffi, took over the Mel Fisher Maritime Heritage Society in Sebastian,” said Peter. Kip Wagner also published a book titled Pieces of Eight in 1966, documenting his experience.

Built in 1956 by a shipbuilder for Dr. Bowman Guerin, the Cabin Wreck has survived many hurricanes over the years while other beachfront houses nearby built to hurricane code have been destroyed. “The house is made from cypress wood which is extremely hard and durable,” said Peter. “It also has a low profile which keeps it out of harm’s way.” Peter points to an American flag that flies proudly on the front deck of the house, much like the bow of a ship. “I put that flag up in 1990 and it has been there ever since. It’s been through everything and has never faltered — a testament to the sturdiness of the house.”

Peter and June have been living in the house for 17 years, coming from Boca Raton where Peter had a dental practice. “June and I and our two kids would come up to Vero and stay at the Driftwood. We just loved the feeling of the town and the architecture of the Driftwood,” said Peter. “We were visiting one weekend, saw this house that happened to be for sale and just fell in love with it.”

“It reminded us of the Driftwood. So we bought it,” said June. “We didn’t know anything of the history of it at the time but we just had to have it.” Looking out toward the ocean from inside the Cabin Wreck gives the feeling of being on a ship. Long and narrow, the house is comfortable and cozy with shiny soft pine floors and colorful Moroccan rugs, bought while living in the North African country. “Peter was in the Navy so we were stationed in Morocco,” said June.

Because of the limited space of the house, everything is designed with function in mind. The master bedroom resembles a stateroom on a ship with lots of storage beneath the bed. The office doubles as a bunkroom where their four grandchildren like to play and take naps. “My daughter is about to have her fifth child,” said June. “They live in Virginia but visit quite often. The children love to draw treasure maps when they visit and pretend they are looking for gold.”

A separate guest house was added in 1978. It is connected by a walkway behind the main house. “This is where the grandkids stay when they’re here. I did all the design work myself,” June said. “My son and his wife live in Tampa so they come and spend time here as well.” The ‘bunk house’ has a nautical theme with two bedrooms, family room and small kitchen. Peter’s office is on the first floor of the guesthouse.

June had prepared a special Cabin Wreck Menu for this special day. She is an amazing cook, having learned all about spices and Moroccan dishes from their years of being stationed there. In the spirit of treasure hunting, the gourmet food included Pirate’s Pie, Cuba Libre BBQ Pork & Rice, Avocado Salad, Happy Shrimp, Shipwreck Martinis and much more.

“People are still finding treasure out here," Peter said. “We still dive for fun. A neighbor of ours, John Wilson, who has since moved away, found a box with a priceless necklace inside standing right in front of the house in waist deep water just five years ago."

Although he is retired from his dental practice, Peter is also a forensic dentist and a fellow of the American Academy of Forensic Sciences. He spent lots of time after 9/11 in New York City identifying victims of the Twin Towers tragedy. He is also a consultant, giving lectures about forensic work in his spare time.
“The real treasure for June and I is just living in this house with all its memories.”