The Money Pit Mystery and Early Treasure Hunting on Oak Island

Oak Island is located off the coast of Nova Scotia near Halifax, in the eastern part of Canada. This 140 acre island is privately owned, and is best known for its supposed buried treasure, especially at a certain spot commonly known as the Money Pit. Since its discovery around the end of the 18th century, a number of theories have been put forward to explain the nature of the legendary treasure in the Money Pit of Oak Island. In addition, many attempts to unearth the treasure have been made in the following centuries, though these have yet to meet with success. Nevertheless, efforts continue even today, with the hope that a fantastic treasure will eventually be found on the mysterious Oak Island.

Discovering the Money Pit on Oak Island

The Money Pit of Oak Island is reported to have been discovered in the summer of 1795, when a teenager by the name of Daniel McGinnis came across a circular depression in the ground whilst wandering on the island. McGinnis decided to investigate the pit with a few friends, and over the next couple of days, he, along with his friends John Smith and Anthony Vaughan, began to dig a hole.

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Oak Island, Nova Scotia, Canada. (Crystalinks)