Oak Island Money Pit

Discovery of Oak Island & First Excavations

It was in the summer of 1795 that a teenager named Daniel McGinnis saw strange lights on an island and later discovered a strange circular depression on the island as well as a block and tackle that hung from a severed tree limb directly over the shallow hole. Together with John Smith and Anthony Vaughan, the teenagers enthusiastically began excavating the curious site.

Continuation of Excavations by the Onslow Company

The legend of Oak Island never let go of John Smith. Thus, together with Simeon Lynds*, he decided to continue the excavations with the help of Colonel Robert Archibald, Captain David Archibald and Sheriff Thomas Harris. The group established the Onslow Company, a professional venture with the purpose of recovering the Oak Island treasure.

Their significant discovery: A large square-cut stone tablet with an inscription: a unique combination of lines, arrows and dots. After digging deeper the team was confronted with unexpected challenges such as the flooding of the underground cave and finally was forced to accept defeat.

*Lynds descended from a pioneering family from Ireland who settled in Nova Scotia in 1761.

Reawakening of the Mystery by the Truro Company

The site on Oak Island lay submerged beneath water for nearly 50 years. The entombed mystery was reawakened by a member of the original dig, Anthony Vaughan, with support by the Truro Company (founded in 1845): Together and James Pitblado and Dr. David Barnes Lynds, brother of Simeon Lynds (Onslow Company).

Members witnessed Pitblado wipe dirt off an object before discreetly slipping the item into his pocket. After this, Pitblado left the island and relinquished all ties to the Truro Company expedition.

Nonetheless, the crew continued and equipped with this new knowledge, the Truro Company tried to get further clues to claim the treasure. Despite their best efforts the water level refused to lower. The team ultimately left from the 1850 expedition, the company disbanded in 1851.

The Oak Island Association & the First Island Tragedy

Old mystery, new hopes: The new team of the Oak Island Association began to investigate at the Money Pit. In fall of 1861, ongoing efforts to drain the tunnel caused the first death inflicted by the Money Pit. Unfortunately, the worker who died in 1861 never had his name or even exact date of death recorded.

The Oak Island Treasure Company & the Second Island Tragedy

The discovery of a one and a half ounce copper coin reignated the interest in the tunnel system on Oak Island: In 1893 Frederick Blair and S.C. Fraser, founders of the Oak Island Treasure Company, started excavations. Confronted by various difficulties, including a second tragedy, the works had been suspended several times. However, the team discovered floodtunnels and traces of gold (hidden until 1931).

The mystery attracts a famous name

In 1909, the company transitioned to the Old Gold Salvage and Wrecking Company and was joined by young Franklin Delano Roosevelt who nurtured an interest in the Oak Island mystery well into his presidency.

Significant Effort and Tragedies

Lots of money, countless hours and efforts were put into the investigations and excavations on Oak Island, among others by William Chappell (involved 1897 to 1932), Gilbert Hedden (involved 1935 to 1938), Robert Restall (involved 1959 to 1965) and Geologist Robert Dunfield (involved 1965 to 1966). What they discovered were some clues, but they also revealed further enigmas and suffered several setbacks and tragedies. Many lost their lives while pursuing the Oak Island quest.

Money Pit Explorations by the Triton Alliance

Before their decision to form the Triton Alliance and actively pursue the alleged treasure by purchasing the majority of the island, key partners Daniel Blankenship and David Tobias had been investigating the plausibility of the Oak Island narrative.

Blankenship and Tobias began an ambitious drilling campaign and initiated diving excursions into subterranean caverns. They discovered iron artifacts, pieces of porcelain, wood, clay and charcoal, a corpse and several treasure chests – evidence of human activity prior to the first Money Pit excavation.

Treasure Trove Act of 1989

Legal issues again undermined Oak Island's stakeholders in 1989: The legislation revised the original act of 1954, tightening regulations and limiting license issuance.

Many of those possessing interests in Oak Island turned to tourism as source of revenue and public promotion for their large-scale excavations. However, this type of commercial activity also required a license. Despite the additional limitations on treasure hunting, the main players on Oak Island like the Triton Alliance managed to secure Treasure Trove Licenses.

New Owners, New Regulations

Although the Oak Island Tourism Society petitioned the Canadian government in the 1990s to purchase the land and open it to the public, the majority of the island was finally sold to brothers Marty and Rick Lagina in 2006. Along with Daniel Blankenship, they formed the Oak Island Tourism Inc.

The enactment of the Oak Island Treasure Act in 2010, which revisited the Treasure Trove Act, has discouraged many potential treasure hunters and has inhibited activity on the once spirited Oak Island.

'The Curse of Oak Island' on HISTORY Channel

The HISTORY Channel debuted a reality TV series about the efforts of the island owners Marty and Rick Lagina in their attempt to use modern technology to discover unknown treasures at Oak Island. Marty and Rick have engaged the assistance of Dan and David Blankenship, who have likewise been searching for the treasure since the 1960s.

Eleven Seasons of Treasure Hunting on TV

The TV show 'The Curse of Oak Island' follows the expensive efforts of the Blankenship brothers in their attempt to discover unknown treasures and historical artifacts, believed to be buried on Oak Island.

season 12 is due to air in Novermber 2023