The newspaper clip seems quite garbled. As for the gold, I have copied the relevant paragraph from my book here:
"While the miners were busy at Alva, Sir John was having his own fair share of excitement. Repeated attempts to procure arms for the rebels met with obstructions and difficulties but he did manage to take charge of a valuable consignment of Spanish gold. Queen Mary, mother of the Pretender James, had received, according to various accounts, 100,000 ducats or 200,000 crowns worth of gold ingots from Philip V of Spain to assist the rebels. Sir John, together with Lord Tynemouth and Francis Bulkeley was to convey this gold to Scotland where it was to be handed over to King James. Their ship set sail from Calais late in December and soon encountered stormy weather. Early in January 1716, it was driven onto a sandbank off St. Andrews and smashed to pieces. Sir John and the crew survived but the treasure was lost. They lingered for a few days hoping to salvage something at low tide but had to give up."
In the references and notes for this section I add:
"The rebels tried to keep the affair of the gold secret but without success for the Hanoverian forces soon found the wreck and spent sometime on it “fishing for gold”. Tayler, A. and Tayler, H. 1936. “1715: the story of the rising”. Thomas Nelson and Sons Ltd., London, p. 144-145.
For further details and references see also Smith, L. B. “Spain and the Jacobites, 1715-16” in Cruikshanks, E. (ed.) 1982. “Ideology and Conspiracy: Aspects of Jacobitism, 1689-1759”. John Donald Publishers Ltd. Edinburgh, p. 168, 176, and Miller, P. 1971. “James”. George Allen & Unwin Ltd., London, p. 195, 200, although the latter wrongly places the wreck at Dundee."
From what I understand of the sands at St Andrews (cause of many a wreck) salvage at low tide should have been possible even then, so it is likely the gold was all retrieved. But it only takes one box of ingots to have been smashed and scattered about, and those ingots will have swiftly disappeared into the sand. So you never know!
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