The Oak Island Money Pit

by Ray Clancy on November 4, 2008

The Oak Island mystery!In the world of property and in particular land investment there can be few stories to match that of the Oak Island Money Pit. Oak Island is situated on the south shore of Nova Scotia, Canada and is one of around 360 small islands and is in itself only 140 acres in size. However this tree covered island has been the centre of one of the most bizarre treasure trove stories for centuries. The controversy and speculation revolves around the so-called Oak Island Money Pit and rumours of a £2 million treasure buried below the land which has changed hands literally dozens of times over the last few centuries.


The Oak Island Money Pit story

While there are many theories and suggestions about what exactly went on at Oak Island they all revolve around a supposed treasure trove which is buried hundreds of feet below the surface and has been the subject of many many excavations, some more successful than others, over the years. However, despite the millions of pounds spent on the island nobody has yet been able to explain how, why and what exactly is going on although it seems as if the myth continues to gather strength year by year.

There are many theories about what may or may not be buried underneath the surface, which we will cover later in the article, and we have seen many books and stories linked to the island. History suggests that literally millions of pounds have changed hands over the years, and seen ownership of the island change on a number of occasions, but whether it may actually yield a return for somebody one day remains to be seen.

Early history

Like so many land ownership mysteries from the past the Oak Island Money Pit story is full of supposed factual and conflicting information which has never actually been backed up by cold hard facts which can be understood and deciphered today. The history of the island goes back to 1795 when a 16 year old boy discovered a depression on the land which indicated a possible man-made shaft leading down under the surface. However, this was just the start of the myth which is the Oak Island Money Pit!

It is rumoured that along with a group of friends, the 16-year-old boy began to dig beneath the surface and the further they went the more evidence of some kind of man-made structure was discovered. They were rumoured to have found support log shafts at 10 feet intervals, mine pick marks on the hard stone walls and further evidence that the shaft had been built many many years ago. Quite how this innocent discovery turned into one of the most bizarre and long-lasting treasure myths of all time is unknown.

The next dig happened eight years later and this is when the story really began to grow and reach global proportions. During this next dig it was reported that a large stone was discovered partway down the shaft which had a number of old age symbols carved into it which when translated were said to say “40 feet below, £2 million lie buried”. Surprisingly, there are no pictures, no drawings, nor images and no direct sketchings of either the stone or the mysterious symbols which it was said to hold.

The next excavation took place in 1849 when The Truro Company was formed and brought about a more industrial based excavation of the site. This intriguing excavation is said to have extended to around 100 feet below the surface where various layers of spruce, headspace, metal instruments, and finally clay were apparently encountered confirming suggestions of a man-made shaft thereby strengthening the myth of Oak Island Money Pit.

Recent history

The island has changed ownership on a number of occasions and there were further excavations in 1866, 1893, 1909, 1931, 1935, 1936 and 1959 after which there was a break until the late 1960s when the Triton Alliance Ltd company acquired the vast majority of the island. A further excavation in 1971 managed to get down to a depth of 235 feet and is said to have recorded a number of treasure chests, human remains, wood and tools via camera equipment which was lowered down the shaft.

However, the shaft collapsed and all evidence of the above equipment was lost leading to many speculating that it never actually existed in reality. There have been further acquisitions of the island, numerous excavations, part share sales, but the myth continues to run and run and has been the subject of a number of television documentaries, books and old wives tales.

Other bizarre myths surrounding the Oak Island Money Pit

There has been much mention of man-made traps including deliberate flooding of the shaft which has apparently been experienced by a number of those brave enough to venture below land on Oak Island.

Some of the more bizarre theories relating to what the actual treasure may or may not be include many
stories of Pirates treasure, with Blackbeard and Captain Kidd mentioned on a number of occasions, suggestions that it is actually the infamous Holy Grail as well as the lost treasure of Marie Antoinette. We also have speculation that documents purporting to be from English philosopher Francis Bacon are buried underneath claiming that he was the actual author of William Shakespeare’s plays.

Conclusion

Whether there is actually any treasure whatsoever underneath the Oak Island is very much open to debate as with all the best mysteries and stories there appears to be plenty of circumstantial evidence but very little fact, pictures or physical evidence. However, this has not stopped investor after investor after investor looking for a slice of Oak Island in the hope of finding the infamous Oak Island Money Pit.

Whether we will actually get to the bottom of this mystery remains to be seen but with figures such as Marie Antoinette, William Shakespeare, Francis Bacon, Blackbeard, Captain Kidd and most bizarrely of all Franklin Roosevelt mentioned in connection with the mystery it seems as though it will grow and grow well into the future. It must also be noted that the quest for the mysterious treasure has claimed many lives and literally millions of pounds over the years.

{ 1 comment… read it below or add one }

nicholas pemberton November 2, 2010 at 4:29 pm

id like to go to the island and help the next too try geting to the bottum all some one needs to do is dame up the three areas where the water is comeing in and go down ive hered there is some radiashon tword the botttum to so you would need some equpment for that to if i had the money to do it all my self i would.

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