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  1. #1
    Jan 2009
    So. Cal
    BH QD II,Minelab GPX 4500 PULSE GOLD PROSPECTING DETECTOR,Garrett Infinium LS Pulse Metal Detector
    3 times

    The Money Pit @ Oak Island

    The romance of searching for pirate treasure has been celebrated in dozens of stories since Robert Louis Stevensonís Treasure Island. But is there really any buried treasure to be found? Maybe so Ö on Oak Island. This is for a long read....


    In 1795, a teenager named Daniel McGinnis discovered an unusual, saucer-shaped depression on Oak Island, a tiny island off the coast of Nova Scotia. Next to the hole was an ancient oak tree with sawed off limbs. And, according to legend, a shipís tackle hung from the tree directly over the depression - as if it had been used to lower something very heavy into the hole. (Oak Island image: Oak Island Treasure)

    McGinnis was certain he had found buried pirate treasure, and with the help of two friends he began digging for it. Within minutes they hit rock - which turned out to be a flagstone buried two feet below surface. They hit another barrier made of oak logs at 10 feet deep; another at 20 feet, and a third at 30 feet. McGinnis and his friends kept digging - but they never found any treasure and eventually gave up. Still, word of their discovery spread.


    In 1803, a wealthy man named Simeon Lynds took up the search. The diggers he hired found another platform at 40 feet, and found several more deeper down. Finally, at 90 feet, the workers found a large stone with strange symbols carved into it. No one could decipher what the stone said, but the workers were convinced they were close to treasure and kept digging. (The stone was later stolen.) At 98 feet deep, their shovels struck what felt like a wooden chest. But the sun was going down, so they stopped for the night.

    By the time the workers got back the next morning, the hole had flooded to the top with seawater. And it somehow kept refilling, even as the workers tried to bail it out. They never were able to drain the pit enough to finish digging.

    Like McGinnis, Lynds had hit a dead end.


    Lynds wasnít the last person to dig for treasure on Oak Island. In fact, so many excavations have been attempted that the precise location of the original hole - known as the "Money Pit" because so much money has been spent trying to solve its mysteries - has been forgotten because so many other holes have been dug nearby. Even young Franklin D. Roosevelt supervised a dig in 1909 (he followed Oak Islandís progress even as president). And the search continues today. Some findings:

    Thereís at least some gold down there. In 1849, treasure hunters sank a drill to the 98 foot level. Like Lynds, they hit what felt like a wooden chest. They dug through the top into what felt like "22 inches of metal in pieces (possibly gold coins)," through more wood, and into another 22 inches of metal. When they pulled the drill back to the surface, three links of gold chain were stuck to it. In nearly 200 years of digging, thatís all the treasure thatís been found.

    In 1897, another group of drillers dug down to 155 feet. They pulled up a half-inch-square piece of parchment - but thatís not all. They also hit what they thought was a heavy iron plate at 126 feet, but couldnít pull it up.

    Money Pit inscription and cipher at The Active Mind

    In 1987, an IBM cryptologist finally deciphered an engraving of Lyndsí lost stone. The message read: "Forty feet below, two million pounds are buried."

    The romance of searching for pirate treasure has been celebrated in dozens of stories since Robert Louis Stevensonís Treasure Island. But is there really any buried treasure to be found? Maybe so Ö on Oak Island.


    Whoever dug the original pit went through a great deal of trouble to do it. In 1850, explorers resting on a nearby beach noticed that the beach "gulched forth water like a sponge being squeezed." So they dug it up - and discovered it was a fake. The beach was actually a manmade network of stone drains that filtered seawater and fed it into the Money Pit. The drains - designed to flood the pit whenever treasure hunters got close to the treasure - had been buried in sand to avoid detection.

    The Money Pit may even be protected by poison gas. On August 17, 1965, treasure hunter Bob Restall blacked out and fell into the pit he had dug. His son and four others tried to rescue him, but they also blacked out and fell in. Restall, his son, and two of the workers were killed. The autopsy finding: death by "marsh-gas poisoning and/or drowning."


    In 1977, the Montreal-based Triton Alliance, Ltd., a consortium of 49 investors headed by David Tobias, bought the 128-acre Oak Island for $125,000. They have spent more than $3 million digging for treasure.

    During one drill, Tritonís workers found bits of china, glass, wood, charcoal - even cement. But no treasure.

    Perhaps the strangest incident associated with Oak Island occurred in 1971 when Tobiasí partner Dan Blankenship lowered an underwater video camera into a water-filled cavity at the bottom of a shaft. On the monitor, Blankenship suddenly saw what looked like a human hand. Horrified, he called over three crew members, who later verified his story. Asked by Smithsonian magazine about the legitimacy of his hand-sighting, he answered, "Thereís no question about it."


    Oak Islandís "treasure," if there is one, could be worth over $100 million. Among the many theories of what the Money Pit could be hiding:

    1. The missing crown jewels of France.
    The Nova Scotia area was frequented by pirates in the 16th and 17th centuries - when the jewels were stolen. The local Mahone Bay takes its name from the French word mahonne, a craft used by Mediterranean pirates.

    2. Inca gold plundered by Spanish galleons and later pirated by Sir Francis Drake.
    A carbon analysis of wood samples recovered from the area dated them back to 1575, around the time of Drakeís explorations. However, there is no record of Drake ever having been to Nova Scotia.

    3. Captain Kiddís buried treasure.
    Some believe Kidd buried his treasure there before being extradited and later hanged by the British. Before Kidd was executed in1701, he offered a deal: "He would lead a fleet to the spot where he had hidden his East Indian treasure, if the authorities would put off his execution. The deal was refused - and Kiddís treasure has never been found." There is, however, no evidence that Kidd was ever near Oak Island.

    Others have their doubts. Some feel that the Money Pit is merely an elaborate decoy and that the treasure is actually buried in a nearby swamp. Others think itís just a sinkhole. Many doubt whether pirates had the resources and engineering know-how to construct such an elaborate trap.
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  2. #2
    Oct 2007
    Pascagoula Ms.
    minelab exp.
    43 times

    Re: The Money Pit @ Oak Island

  3. #3

    Apr 2005
    5 times

    Re: The Money Pit @ Oak Island

    I looked at all this a couple of years ago, but could come up with an explanation, or a solution. It's one of the most complex problems you will ever come across.




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