Pirates & Shipwrecks · Treasure legend
Oak Island Money Pit
Nova Scotia, Canada
What happened
THIS IS A LEGEND. Oak Island is a small island in Mahone Bay, Nova Scotia, Canada. According to the most widely told story, in the summer of 1795 a young man named Daniel McGinnis found a depression in the ground and later diggers began to dig there. The deep hole became known as the Money Pit. No treasure has ever been found.
Why it matters
Very little is verified about the early digging. The story was first printed in 1857, long after 1795, and later details were added over time.
What came next
Many people have searched the island for treasure since the 1700s. Experts have concluded that the Money Pit is a natural sinkhole.
Did you know?
Around 1802 a group called the Onslow Company is said to have dug on the island, according to the legend.
Timeline
- 1795According to the legend, Daniel McGinnis finds a depression in the ground.
- Around 1802The Onslow Company is said to dig at the site.
- 1857The Liverpool Transcript prints the first known account.
- TodayThe Money Pit is considered by experts to be a natural sinkhole.