A treasure hunter using his metal detector at a Florida beach found a lost diamond ring in the shallow water.

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Derek Smith said he was out Monday with his metal detector when it indicated something was buried under the shallow water at Madeira Beach.

Smith reached into the sand and unearthed a ring that he was quickly able to identify as belonging to a woman who had earlier reached out to him and asked him to be on the lookout for the ring she lost at the beach.

Smith said the ring, which features a large diamond and several smaller jewels, bear's the woman's name engraved inside the band.

The treasure hunter said he is working on returning the ring, which he estimated to be worth about $10,000, to its rightful owner. He said he does not have the woman's contact information, but he is hoping she will come forward to claim her property.