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Oak Island- The Mystery of the Money Pit

By Edited May 11, 2016 10 29

Oak Island is a 140 acre island in Mahone Bay of the coast of Nova Scotia, Canada.

In 1795 a group of young boys playing on this island discovered an area of disturbed earth beneath a tree where a wooden winch was hanging. This discovery led to a century’s long search for treasure on Oak Island that has to this day yet to yield its mysteries.

This search began on that same day, the young boys, who, after digging deeper and deeper, came across layers of flagstones, wooden planks and pick marks on the side of the shaft.After 30 feet they gave up and years later the dig was resumed by a company eager to retrieve the treasure or treasures the pit might contain. They in turn uncovered layers of coverings made from planks and coconut. 90 feet down they gave up due to flooding.

Group after group arrived to try their hand at excavating the pit during the 1800’s, coming up with inventive ways of digging but getting nowhere. A drill was used by a company called the Truro company in 1849 but little good it did only bringing up scraps of metal, oak and clay.

All through the 1800’s and 1900’s various attempts were made at retrieving a fortune in what was believed to be buried treasure, possibly the finds of a pirate raid.The mystery of the island has attracted the people from all over, from various eras of history including Franklin D. Roosevelt, Errol Flynn, John Wayne and King George of England

In 1967, the current owner of part of the island, Daniel Blankenship, co-formed a company which purchased the island and carried out excavation work, digging a 230 foot shaft deep into the earth. The shaft collapsed before any finding could be verified. Later, lack of funds halted progress up until the present day.

The Canadian laws of excavation for treasure fall under a treasure trove law which has strict guidelines on digging and who owns the find once it has been dug out of the earth, if it exists at all.It might be a lost cause, hundreds of men and women for centuries have hunted for treasure on Oak Island ever since those young boys came across its mystery and nobody has found anything real.

This mystery has led to speculation and theories about what may lie at the bottom of the money pit and who buried it including:

  • Pirates - Captain Kidd and Blackbeard the pirate are two of many potential pirates who, themselves and their crew, may have buried their booty on Oak Island.
  • French crown jewels - The jewels of Marie Antoinette were spirited away during the French revolution during the 1700’s which might have ended up on this remote Island.
  • Natural sinkholes containing coincidental debris and caves at various intervals.

 The Island has yet to give up its secrets through the centuries, it remains to be seen will it ever.



May 28, 2011 12:24am
Really Cool!
May 28, 2011 10:13am
I saw this on the History Channel once, really cool topic. Someone should convince Bill Gates to invest in this project :).
May 31, 2011 8:30am
Wouldn't mind seeing that actually, I'll have to Google it to see if I can find it available for streaming.
May 28, 2011 2:32pm
they will dig to the other side of earth and would find nthing....:D

Avery nice article...nice read...:)
May 31, 2011 8:30am
Cheers, The amoutn of resources, money and time gone into that project is astounding.
May 28, 2011 3:16pm
Wow, that's quite a mystery.
May 28, 2011 4:18pm
Wow, how cool would it be to actually find what's hiding! Very cool article
May 29, 2011 7:27am
Almost bermuda triangle cool. I like
May 29, 2011 9:13am
well...i'm officially off to search for treasure :)
May 29, 2011 9:53pm
Cool article treasure hunting is a blast. thumbs up.
May 30, 2011 9:58pm
It sounds like a cool place to visit and daydream as well!
May 31, 2011 3:45am
This story has really interested me since I first heard about it. I think it differs from other treasure hunting stories due to the fact that nothing substantial has been found and no one knows what exactly is buried there, if anything at all.

It would be a cool tourist attraction if they had it open all year round.
May 31, 2011 10:53am
not to mention, that we do not posses the technology to get to the bottom of the hole so it makes you wonder how the hell they dug it 100s of years ago
Jun 1, 2011 1:10am
Yeah I was wondering about that myself.
Aug 26, 2011 3:58pm
If I remember correctly, there are tunnels constructed from the main shaft to the sea in order to let water into the main tunnel. Apparently if those were located and blocked off, the water would not flow into the main tunnel. I would suspect that the main shaft was dug, the treasure buried, and then the cross tunnels were dug to flood the main shaft and prevent looters from stealing what is at the bottom.
May 31, 2011 6:04pm
nobody buries a treasure at 90ft depth, there's nothing there
Jun 1, 2011 1:11am
That likely, although I wonder what the deal is with all those layers they keep finding.
May 31, 2011 7:14pm
I never heard of this, thanks for an interesting article!
Jun 3, 2011 1:07am
I've written about this before (though not here on IB). With all of the collapsing shafts and flooding tunnels, it seems like something out of an Indiana Jones movie.
Jun 3, 2011 4:40am
Indiana Jones, Good call, He would go down with his whip and hat and bring up all the treasure in 2 hours by finding a secret entrance whose directions were scripted on rocks in Siberia which he landed on after falling from an airplane.

Seriosuly though it is quite an incredible story.
Jun 7, 2011 5:39am
I don't believe in that at all, but I really liked the story. It really got me caught. Nice one :-)
Jun 7, 2011 6:16am
Hi CaptainJack

Well it's an intriguing story with no substantial proof of anything down there so your right not to believe a story like that something until you are shown proof.
But just like you I really liked the story too.

Jun 11, 2011 11:55pm
It's the money pit because a ton of money has been sunk into it. There clearly was a lot of effort to conceal something on the island, including the use of dams and shafts. Really an interesting story.
Jun 13, 2011 11:12am
Haha, never though of it that way at all. A lot of effort to conceal and a lot of effort to find what was concealed, and probably much more in the future too.

Jun 17, 2011 10:43am
I've been fascinated by the mystery of the money pit ever since I first heard about it somewhere in the late nineties. I read about it in some kind of encyclopedia of the weird and unknown. Thanks for sharing this on Infobarrel.
Aug 29, 2011 3:08pm
Yeah, same as, I too have been fascinated by it. I think it's more the mystery of who created the pit rather than whats just down in it is what intrigues me most.
Oct 12, 2011 3:22pm
Very cool. Thanks. (I stumbled it -- I hope it brings you lots of readers. It's a great gread!)
Jul 14, 2012 5:02pm
Great read! Thanks.
Sep 17, 2012 8:38pm
Really nice topic for an article...

I have seen a documentary or some video about this on Discovery or History channel many years back....

Congrats on the feature.
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