You're right Old Dog. Troy vs avp. Yeah, I was calculatin' for the lighter load. At 12 oz per pound, the load is heavier, which kinda makes this legend even more difficult to believe.
A bit o' the "neighbors" trivia: They think the bandits didn't ride-in from Prescott, just days ahead of the stagecoach, but were local thugs who robbed victims based upon opportunity. Legend has two bandits with two horses. No quick get-away for them if each horse is loaded with rider & lots of gold, in my opinion. The Bandits may have been just as shocked to find that much gold on the stage as the coach riders were to being robbed.
Some of my observations:
Like my old Army buddies used to say, "Intel doesn't get good until there's boots on the ground." I have been in & around the area of Canyon Station recently. If you are in the hills, you can't walk or ride a straight line for five feet in any direction without hitting a pine tree unless you are in a dry wash. The scrub pines (juniper?) are anywhere from 4 to 8 feet high, fairly dense in population, and pretty much limit your view in any direction if you are standing on the ground. Once you come down from the hills, the further away from the hills you get, the easier it becomes to travel. The problem with travelling along the lower desert is that you can be seen from a long way off.
Were the desert conditions in 1873 similar to what they are now? I think they are close to 1873 conditions, considering 130+ years of whatever earthquakes, floods, etc. have occurred.
Having been in the area, I have seen several "natural" ways I could hide the loot quickly- none of which involves deep digging, well dumping, or secret caves.
Below is a photo typical of the general area. I'm 6ft tall, standing on the ground, shooting straight ahead towards the hills: