On 15 August 1782, Magnifique was wrecked along the rocky shore of Lovells Island, in Boston Harbor, MA, USA. She was rumoured to have been carrying "long-lost treasure." According to a US National Park Service Guide, the submerged vessel is still visible from N 42° 19.902’ W 070° 55.818’ during periods of calm.
On 3 September 1782 the Continental Congress decided to present the ship of the line America to King Louis XVI of France to replace Magnifique. The gift was to symbolize the new nation's appreciation for France's service to and sacrifices in behalf of the cause of the American patriots.