IN THE NEWS: Chauncey Wolcott Treasure

In the image above lies the now vacant lot at 1028 N. 5th St. in Springfield, IL where efforts are underway to unearth an alleged buried chest holding at least 24 gold US coins.

According to reports that are gaining attention all over the net, a postal worker in St. Louis, MO came across a hidden letter when taking a part an antique chair she wanted to refinish. In the letter, labeled "Finders Keepers", was a key, and directions that the key would open a chest located at the above lot, 12 feet in the ground.

Those involved in the undertaking are well aware it may be a hoax, and many of our metal detector/treasure hunting peers are right on board with the theory. To them, too many things just don't add up.

All I know, is that with the gold coins that are said to be buried here (8 x Double eagles, 6 x Eagles, 5 x Half Eagles, 3 x Quarter Eagles, and 2 x Gold Dollars), the melt value alone, which at current rates is roughly $12,355 (426.4 g @ 90% = 383.76g = 12.338 Troy Oz.), is more than worth the effort. At auction those coins would pull many times more.

You be the judge, read the story HERE.

Above photo credits to Shannon Kirshner/The State Journal-Register.