5 MARCH, 2017 - 13:58 DHWTY
The Money Pit Mystery and Early Treasure Hunting ... - Ancient Origins
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.
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.
Oak Island, Nova Scotia, Canada. (Crystalinks)
Two feet (about 0.61 meters) from the surface, the boys struck a layer of flagstones. They continued digging, and at a depth of 10 feet (about 3 meters), they came across a layer of oak logs. Two more layers of oak logs were encountered again at 20 feet (about 6 m) and 30 feet (about 9 m) below the surface. At this point, the boys were no longer able to continue on their own, and decided to go home, with the intention of returning to continue their search.
The ‘Money Pit’ on Oak Island, Nova Scotia, Canada in 1947. (Public Domain)
It was only eight years later that McGinnis and his friends managed to return to their dig site, along with the Onslow Company, which was established for the purpose of excavating the Money Pit. The digging continued until a depth of 90 feet (about 27 meters). At each interval of 10 feet, a layer of oak logs were discovered.
In addition, a layer of charcoal, putty and coconut fibre are reported to have been found at the depths of 40 feet (abut 12 meters), 50 feet (about 15 meters), and 60 feet (about 18 meters) respectively. The most puzzling discovery, however, was allegedly made at 90 feet. At this depth, a stone with an inscription was found. The writing on the stone, which consists of symbols, has been commonly deciphered as follows: “Forty feet below two million pounds are buried”.
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 "The Money Pit Mystery and Early Treasure Hunting ... - Ancient Origins." 5 Mar. 2017, http://www.ancient-origins.net/ancient-places-americas/money-pit-mystery-and-early-treasure-hunting-oak-island-007660. Accessed 5 Mar. 2017.
 "The Lost Treasure of Oak Island and the Centuries ... - Ancient Origins." 8 Dec. 2014, http://www.ancient-origins.net/unexplained-phenomena/lost-treasure-oak-island-and-centuries-old-quest-find-it-002427. Accessed 5 Mar. 2017.
 "Roman Sword discovered off Oak Island radically ... - Ancient Origins." 17 Dec. 2015, http://www.ancient-origins.net/news-history-archaeology/roman-sword-discovered-oak-island-radically-suggests-ancient-mariners-020663. Accessed 5 Mar. 2017.