But what if I told you that the treasure pit was, to date, almost 200 feet deep, protected by an elaborate set of booby traps (underground channels to an ocean beach over 500 feet away), has been the subject of countless excavations since 1795, costing millions of dollars, and the death place of six treasure hunters, and they still haven’t found the treasure… If you answer: "That’s the treasure pit at Oak Island", you are correct!
The story of the Oak Island treasure pit is fascinating and complex. It is a story of mystery, greed, controversy and very little humour. The Oak Island treasure has been sought by many individuals and corporations for over 200 years. It has attracted all strata of explorer from: the three teenagers who first discovered the site; to Franklin D. Roosevelt, a former US President, whose company Old Gold Salvage group searched in 1909; to the swash-buckling actor Errol Flynn who wanted to search Oak Island in 1940, but was discouraged when he found the search rights belonged to a company owned by fellow actor John Wayne.
The story of the Oak Island Treasure Pit has been written about in numerous books. To date the treasure has not been uncovered, but tantalizing glimpses of what are purported to be part of the treasure have been reported. The following are a sample of some of the theories on who buried the treasure on Oak Island:
- the most popular theory is that of the early 18th century pirate Captain Kidd, who frequently visited the region of Oak Island for rest and relaxation and to repair his ships. He seemed to have a habit of burying part of the treasure he plundered far and wide.
- the most bizarre theory is that the treasure is the original works of William Shakespeare/ Sir Francis Bacon buried on the site in the late 16th century. This theory is based on the evidence of a piece of parchment paper brought up from the pit by one of the treasure hunters.
- equally strange is the theory of the crown jewels of France which went missing in 1791 and were said to have been smuggled to Louisburg (north of Oak Island in Cape Breton). Since Louisburg was frequently attacked by the British when the French owned it, the jewels were considered unsafe and were transported to Oak Island.
