The island is located 200 metres (660 feet) from shore and connected to the mainland by a causeway and gate. Located on the east side of Oak Island, the Money Pit is—or was—a shaft more than 100 feet deep. Perhaps too convinced of treasure to give up the pursuit, the eldest of the excavators, John Smith, purchased the lot containing the intriguing cavernous pit that same month. Rick and Marty Lagina are doing everything they can to discover the secrets of the Money Pit on History Channel's 'The Curse of Oak Island'. The Money Pit has been investigated for over two centuries already. Below is an accounting of the various treasure hunters who tried in vein to discover the mystery of the Oak Island money pit. Drilling For Core Samples (1849-1851) The successors to the Onslow Company’s mission were called the Truro Company. Soon and forever after known as the “Money Pit”. As a result, the hole where the gold was found would be known as The Money Pit. The Onslow Company. The search for the famous Oak Island, Money Pit Treasure began in 1795. Fool’s Gold: why there’s no treasure in the Oak Island “Money Pit.” [Part I] See the video version of this blog, here: For a long time now, I’ve wanted to do a series of articles about one of the greatest and most fun historical mysteries of all time: the famed “Money Pit” on Oak Island, Nova Scotia. Oak Island is a 57-hectare (140-acre) privately owned island in Lunenburg County on the south shore of Nova Scotia, Canada.The tree-covered island is one of about 360 small islands in Mahone Bay and rises to a maximum of 11 metres (36 feet) above sea level. ...or have any remote interest in treasure hunting stores, be sure to make the drive across the causeway to Oak Island and the Money Pit. Up ahead, we take a … Well, Oak Island Mystery refers to stories of unexplained objects and enfolded treasure which got found on or near the Oak Island in Nova Scotia.Some attempts have been made since the 19th century to discover the richness and … The money pit. Massive news for The Curse of Oak Island fans — a huge dig is currently under way at the Money Pit, prompting speculation that we could be on the verge of a historic find. They have found significant objects on the sites that may connect the Nova Scotia island with Knights Templar, or the Romans, Greeks and the Vikings. The Money Pit on Oak Island is one of the most fascinating places to both treasure hunters and historians alike.But, who owns the Money Pit on Oak Island? They started their work in 1849 by digging down to 86 feet. Though nothing has come out yet to support this claim, still, a flock of individuals shares the similar view, while another camp considers it to be a legendary hoax. Today the exciting search continues! During these futile attempts, the first ever recorded death associated with Oak Island happened… The Infamous Money Pit These people have purchased the island in order to spend the rest of their lives looking for the heavily speculated treasure that is buried in the depths of what is now known as The Money Pit. At the heart of the Oak Island mystery is the original pit first discovered by Daniel McInnis, John Smith, and Anthony Vaughn in the summer of 1795. The Oak Island Association tried to drain the water a few years later. Over 220 years later... the search continues! Oak Island is located off the coast of Nova Scotia near Halifax, in the eastern part of Canada. For centuries, a debate is persisting about the existence of a money pit, hidden under the ground at the Oak Island. The pit had built up a pool of water over time. While exploring, three young men found evidence of buried treasure on Oak Island, in the waters of Mahone Bay, on Nova Scotia's South Shore. An enormous convoy of trucks carrying heavy machinery including a 300-ton crane have been arriving en masse at the island off Nova Scotia over the past few days. Many academics and adventurers have resisted explaining the mystery of the island, but no one yet had achieved to go too deep to the Money Pit of Oak Island.. Oak Island Mystery. New Groundbreaking Discovery Oak Island is a privately owned island on the shore of Nova Scotia, Canada.The small island, which covers 140 acres (570,000 m²), is famous for the legend of the Money Pit, which many believe to be the site where buried treasure is hidden. This 140 acre island is privately owned, and is best known for its supposed buried treasure, especially at a certain spot commonly known as the Money Pit. There is no charge to enter the interpretive centre to see some of the artifacts pulled from the ground around the island and there is also… This is the Money Pit on Oak Island, dating back to the 19th century. Since the island was firstly settled in 1761, and all through the 19th century, there have been many different stories about the treasure of Oak Island. Many of the accounts are confusing and unreliable, but here is the history of Oak Island and the infamous Money Pit: