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Money Pit – Interesting Story

Oak Island is located off the shores of Nova Scotia on Canada’s Atlantic coast. To a casual person, the small island looks like others in this province. Rocks and sand skirt covered in native forests. However, the story of its past is one of mystery, intrigue, and tragedy. Academics and adventurers rushed to its shores trying to explain the mystery, but nobody ever reached the Money Pit, a mysterious underground vault said to hold a large treasure and artifacts of old.

The Discovery


The story of the Money Pit begins in the summer of 1795 when a teenager Daniel McGinnis saw strange lights on the island from his house. After investigating the lights, McGinnis noticed an interesting circular depression 13 feet in diameter on the forest floor. A number of oak trees around the depression had been removed, and a block and a tackle hung from a severed tree limb over the shallow hole. McGinnis left the island to ask for help from two of his friends, John Smith and Anthony Vaughan. They began to excavate the site a day later.

As described by the Maritime Museum of the Atlantic, the “Golden Age of Piracy” lasted from 1690 to 1730. During this time, Nova Scotia had just several European settlements. Just over 200 nautical miles separated the present-day Nova Scotia from a thriving commercial center that was colonial Boston. Therefore, there was high pirate activity here. Thanks to the wilderness and an abundance of natural resources for restocking and repairs, they had a safe harbor to hide their loot. The infamous pirate Captain William Kidd admitted that he buried an immense wealth in the area.

Initial Excavation


The surrounding settlers and residents stormed to Oak Island, aware of the fabled pirates and gold in mind. The young trio came across buried evidence two feet beneath the topsoil, a layer of flagstone across the surface of the opening. Below it, unfortunately, they only found more dirt. They kept digging and excavating, and so did the people in the centuries to come. Nobody found the treasure yet, only several old artifacts from different time periods and geographical locations. These findings only complicated the matters and future endeavors.

Notable People and Companies


Many different companies and individuals came to the island over the years to try and find the treasure of the Monet Pit and solve the mystery of Oak Island. These include The Onslow Company, The Truro Company, The Oak Island Association, Oak Island Treasure Company, Franklin D. Roosevelt, William Chappell, Gilbert Hedden, The Restall Family, Robert Dunfield, The Triton Alliance, Oak Island Tourism, and currently The Curse of Oak Island TV series led by brothers Marty and Rick Lagina.


Several myths are connected to the island and the Money Pit. These include a Pirate Treasure, a Naval Treasure, the Identity of William Shakespeare, a Christian Site, and the Templars and Freemasons. Some of the items found can be connected to the myths, but nothing is certain.

Ricardo is a freelance writer specialized in politics. He is with from the beginning and helps it grow. Email: richardorland4[at]