The luminous green glittering gems - worth more than diamonds - were discovered on the sunken Nuestra Señora de Atocha.
Emeralds from the Spanish ship are now being put up for sale along with a selection of other gems by Guernsey's in New York.
Nuestra Señora de Atocha sank after being caught in a hurricane off the Florida Keys in 1622.
A selection of treasures form the ship are now going up for auction - including a 24-carat necklace and rare cut emeralds.
The total haul is expected to fetch upwards of £8 million when it goes up for auction in May.
Auctioneers claim the Nuestra Señora de Atocha is the "most valuable" shipwreck in history.
Last year, a Brit treasure hunter discovered a £50,000 gold nugget from the Royal Charter shipwreck.
TREASURE: Nuestra Señora de Atocha was sunk along with 24 tons of booty off Florida
Nuestra Señora de Atocha was sailing about 35 miles off Florida when the entire treasure fleet she was part off was caught in a raging hurricane.
Spanish sailors tried desperately to save the ship but the sails were shredded in the wind and the mast was ripped apart.
Huge waves lifted the vessel up and slammed it down against a reef - ripping open the belly of the ship.
EMERALDS: Guernsey's auction house are selling off some of the treasure from the shipwreck
Twenty-four tonnes of treasure spilled into the sea and sank along with the ship.
Nearly everyone on board was killed when the crippled ship plunged to the depths.
Salvage operations discovered the ship's precious lode of emeralds, gold and silver in 1985.
