Oak Island, off the coast of Nova Scotia, is famous for the legend of the Money Pit, where treasure is believed to be hidden. Many have attempted to locate it, but no one has been successful. Theories suggest it could be Captain Kidd’s treasure or even the Holy Grail.
Oak Island is a privately owned island off the coast of Nova Scotia, Canada. The small island, covering 140 acres (570,000 m²), is famous for the legend of the Money Pit, which many believe is where buried treasure is hidden. The many stories about the Money Pit have made Oak Island one of the most famous private islands in the world.
The first documented mention of the Money Pit occurred over 150 years ago. In 1856, a number of newspapers, including the Liverpool Transcript, carried the story of a sixteen-year-old boy who discovered a depression on Oak Island in 1856 and, after excavating it, came upon a deposit of flagstones and logs . This led the teenager to believe there was some sort of primitive construction in the hole, perhaps as a shelter for something. The boy returned with some friends and they continued digging until they reached 1795 feet (30 m), but found nothing.
Nearly a decade later, a company called Onslow arrived on Oak Island for the sole purpose of surveying the Money Pit. During the excavation, they found several layers of logs, stones, charcoal and coconut fibre; 90 feet (27 m) down, they found a large flagstone with an inscription that read, “Twenty feet below, 2 million pounds lie buried.” As they continued digging, the pit flooded. Over a dozen companies have attempted to locate the Money Pit with no success. Former US President Franklin Roosevelt was also part of an excavation team in 1909. Steel magnate Gilbert Hedden bought the island in 1929 in hopes of locating the treasure, but he also failed.
The most popular theory is that the Money Pit contains treasure buried there by either Captain Kidd or Edward Teach (Blackbeard), but others have suggested it could be the remains of a wrecked Spanish galleon or some Inca gold. Some believe the treasure may not even be gold. Several scholars have suggested that Oak Island may be the hiding place for the Holy Grail, or even for a series of documents proving that philosopher Francis Bacon is the true author of Shakespeare’s works. While theories abound, the truth is that no one has yet been able to locate the famous Money Pit on Oak Island. The area is now owned by a group of US businessmen who have vowed to further pursue the search for buried treasure. Oak Island can be visited by anyone with prior permission. Enthusiast treasure hunters can still be seen periodically in the island.
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