The Mysterious Oak Island Money Pit

Written by Super User on . Posted in Mystery

One summer day in 1795 Daniel McGinnis, then a teenager, was wandering about Oak Island, Nova Scotia (see Geography) when he came across a Oak Island Money Pitcurious circular depression in the ground. Standing over this depression was a tree whose branches had been cut in a way which looked like it had been used as a pulley. Having heard tales of pirates in the area he decided to return home to get friends and return later to investigate the hole.

Over the next several days McGinnis, along with friends John Smith and Anthony Vaughan, worked the hole. What they found astonished them. Two feet below the surface they came across of layer of flagstones covering the pit. At 10 feet down they ran into a layer of oak logs spanning the pit. Again at 20 feet and 30 feet they found the same thing, a layer of logs. Not being able to continue alone from here, they went home, but with plans of returning to search more.


It took the three discoverers 8 years, but they did return. Along with The Onslow Company, formed for the purpose of the search, they began digging again. They quickly got back to 30 foot point that had been reached 8 years ago. They continued down to 90 feet, finding a layer of oak logs at every 10 foot interval. Besides the boards, at 40 feet a layer of charcoal was found, at 50 feet a layer of putty, and at 60 feet a layer of coconut fiber.

At 90 feet one of the most puzzling clues was found - a stone inscribed with mysterious writing.

Note: For more information about the stone inscription and to try your hand at translating the stone's inscription go here.

After pulling up the layer of oak at 90 feet and continuing on, water began to seep into the pit. By the next day the pit was filled with water up to the 33 foot level. Pumping didn't work, so the next year a new pit was dug parallel to the original down to 100 feet. From there a tunnel was run over to The Money Pit. Again the water flooded in and the search was abandoned for 45 years.


The Booby Trap


As it turns out, an ingenious booby trap had been sprung. The Onslow Company had inadvertently unplugged a 500 foot waterway that had been dug from the pit to nearby Smith's Cove by the pit's designers. As quickly as the water could be pumped out it was refilled by the sea.

This discovery however is only a small part of the intricate plan by the unknown designers to keep people away from the cache.

In 1849 the next company to attempt to extract the treasure, The Truro Company, was founded and the search began again. They quickly dug down to 86 feet only to be flooded. Deciding to try to figure out what was buried before attempting to extract it, Truro switched to drilling core samples. The drilling produced some encouraging results.


First Hints of Treasure

At 98 feet the drill went through a spruce platform. Then it encountered 4 inches of oak and then 22 inches of what was characterized as "metal in pieces""; Next 8 inches of oak, another 22 inches of metal, 4 inches of oak and another layer of spruce. The conclusion was that they had drilled through 2 casks or chests filled will coins. Upon pulling out the drill they found splinters of oak and strands of what looked like coconut husk.

One account of the drilling also mentions that three small gold links, as from a chain, were brought up. Unfortunately no one knows where they have gone.

Interestingly, the earth encountered beneath the bottom spruce platform was loose indicating that the pit may have gone even deeper. A later group of searchers would find out how much deeper.

The Truro Company returned in 1850 with plans to dig another parallel hole and then tunnel over to the Money Pit. Just like before, as they tunneled over, water began to rush in. They brought in pumps to try to get rid of the water but it was impossible to keep the water out. During the pumping someone noticed that at Smith's Cove during low tide there was water coming OUT of the beach.

This find lead to an amazing discovery - the beach was artificial.


Artificial Beach

It turns out that the pit designers had created a drain system, spread over a 145 foot length of beach, which resembled the fingers of a hand. Each finger was a channel dug into the clay under the beach and lined by rocks. The channels were then filled with beach rocks, covered with several inches of eel grass, and then covered by several more inches of coconut fiber. The effect of this filtering system was that the channels remained clear of silt and sand while water was still allowed to flow along them. The fingers met at a point inland where they fed sea water into a sloping channel which eventually joined the Money Pit some 500 feet away. Later investigations showed this underground channel to have been 4 feet wide, 2 1/2 feet high, lined with stone, and meeting the Money Pit between the depths of 95 to 110

To the Truro Company, the answer was now simple - just block off the water flow from the beach and dig out the treasure. Their first attempt was to build a dam just off the beach at Smith's Cove, drain the water, and then dismantle the drain channels. Unfortunately a storm blew up and destroyed the dam before they could finish.

An interesting note: the remains of an older dam were found when building the new one.

The next plan was to dig a pit 100 feet or so inland in the hopes of meeting with the water channel underground at which point they could plug the channel. This scheme too failed. And this was the last attempt by the Truro company to uncover the secrets of Oak Island.

The Pit's Collapse

The next attempt at securing the treasure was made in 1861 by the Oak Island Association. First they cleared out the Money Pit down to 88 feet. Then they ran a new hole to the east of the pit hoping to intercept the channel from the sea. The new shaft was dug out to120 feet without hitting the channel and then abandoned.


A second shaft was run, this one to west, down to 118 feet. They then attempted to tunnel over to the Money Pit. Again the water started to enter this pit as well as the Money Pit. Bailing was attempted and appeared to work. And then

Tags: mysteries Oak Island Money Pit 1795 booby trap treasure hunter found logs 10 foot charcoal puzzling clues