Despite being a small island covering only 140 acres, Oak Island has, over time, built a name for itself. Legend has it that this mysterious island has millions worth of buried treasure. However, no one has been able to find this treasure after centuries of excavation because some believe that the island is cursed. If you have always heard stories about this island but never really understood what happened here or why it’s so special, here is a detailed history of the infamous Oak Island.
Oak Island’s Mystery Origin
The mystery around Oak Island began in 1795 when Daniel McGinnis stumbled across a dip in the ground. Out of curiosity, Daniel and his two buddies dug into the dip to see what was inside. At around ten feet, they found a layer of oak logs, sparking their curiosity even further.
As they dug into the hole, they found more oak logs every ten feet. Eventually, they came across markings they could not comprehend. It was later translated by a professor of languages at Dalhousie University, James Leitchi, into “There is two million pounds buried forty feet below”.
To speed up the digging process, Daniel recruited the Onslow Company to assist. After digging for 60 feet, Daniel and the company took a break only to find the pit flooded with water. That’s where it got the name “Money Pit”. This marked the beginning of the search for treasure at Oak Island, leading to some fascinating discoveries.
Early Oak Island Treasure Hunters
In 1849, Smith, who was part of the first search alongside Daniel, came with another team, dug deeper into the money pit, and discovered metal and an empty space. An indication that something was indeed buried inside. Towards the late 1890s, another team led by Frederick Blair discovered coconut fiber and iron in the pit.
During the 1900s, a former Oak Island Treasure Company member discovered several artifacts, such as an oil lamp, a flute anchor, and an axe from the pit. In 1965, another treasure hunter, Robert Dunfield, ran into porcelain dishware. A few years later, another team that dropped a camera into the pit claims to have seen several treasure chests.
Are There Treasures in Oak Island?
Apart from all these excavation attempts, no one has ever retrieved a single piece of treasure from this island. This leads to several questions: Is there any treasure on this island? Is it cursed? Oak Island has a pretty interesting history. It was initially called Smith’s Island after Edward Smith, an early settler. It was renamed to Gloucester Isle in 1778 before being renamed to Oak Island because of the red oaks that grow in this area.
There are many theories that revolve around the treasure found in Oak Island. Some of them seem credible, and others are outright false. For instance, after the Lagina brothers bought Oak Island, their main theory was that the treasure was buried, boobie-trapped, and cursed by Captain Kidd, the semi-legendary Scottish pirate and privateer. He ensured that no one would ever find the treasure buried on this island.
Legend also has it that this treasure belongs to Sir Francis Drake, and the metal that was discovered on the island was his coffin. Other theories claim that the treasure in Oak Island may have come as far as from Europe after the conviction of Marie Antoinette in the French Revolution.
This theory talks about how Marie Antoinette gave a servant her jewels, which were buried on Oak Island. More theories touch on renowned historical figures like Captain Blackbeard and the famous philosopher Shakespeare. Here, you can learn about more than 20 theories discussing how this treasure found its way to Nova Scotia and, more specifically, Oak Island. There is also an entire TV series called The Curse of Oak Island.
Who Owns Oak Island?
For more than three centuries, many people have tried to explore Oak Island in search of its treasures. Its current owners are Rick and Marty Lagina, who purchased a 50% stake in the company that owned Oak Island. Previous owners of the island include Daniel McGinnis and his two friends. It was also owned by Samuel Ball.
To add more mystery to this island, President Franklin D Roosevelt bought stock from the above company before ascending to office. It is alleged that he made several trips to Oak Island to check out the progress of the treasure hunt.
Conclusion
Geologists do not believe in the buried treasure story. Most of them consider the Money Pit in Oak Island to be a natural occurrence, as is the case with sinkholes. Also, how this Money Pit floods is attributed to a natural interaction between tidal pressures and the island’s freshwater lens. As such, there is no boobie trap that was installed by a pirate. Considering that the topology of Oak Island keeps changing, there is a good chance that no treasure will ever be discovered in the Money Pit.