Well, you'd have some digging to do. They might be buried in mud. Charles Pellegrino's book Ghosts of the Titanic mentions how on the 1998 expedition how he and Roy found some tiny bits of glass, some officer's uniform buttons, and screws inside a concretion.
I was asked the question in an email, "What did I think happened to Capt. Smith's medals? My response was probably the same as most members of ET would be, that he was known to wear them and they almost certainly went down with the ship. He is seen wearing them in a lot of the available photo's of him and although not an authoritative source, he is shown wearing them in James Cameron's 'Titanic' film.
I do not know whether the medals would have survived in sea water; the transport medal was made of silver and the RNR decoration was silver and silver gilt. Trying to locate them would be like looking for the proverbial 'needle in a haystack' assuming they survived the ravages of salt water. They would be worth a small fortune if recovered.
I am a great fan of Capt Smith, so I am not knocking him in any way, but the RNR Decoration, as grand as it sounds, was for long & meritorious service in the Royal Naval Reserve, and the Transport Medal was a campaign medal. Gosh! if I had medal presented by His Majesty, King Edward VII, I would wear it it on every possible occasion. It was part of Capt. Smith's persona, a great man loved and respected by his passengers and fellow officers.