Oak Island is noted as the location of the so-called Money Pit and the site of over 200 years of treasure hunting Repeated excavations have reported layers of apparently man-made artifacts as deep as 31 meters, but ended in collapsed excavations and flooding. Critics argue that there is no treasure and that the pit is a natural phenomenon, likely a sinkhole.
There has been wide-ranging speculation amongst enthusiasts as to who originally dug the pit and what it might contain. Later accounts say that oak platforms were discovered every 10 feet (3.0 m), but the earliest accounts simply say that "marks" of some type were found at these places. They also say there were "tool marks" or pick scrapes on the walls of the money pit and that the dirt was noticeably loose and not as hard packed as the surrounding soil.[One expedition said they found the flood tunnel at 90 feet, and that it was lined with flat stones.However, Robert Dunfield (a trained geologist) wrote that he carefully examined the walls of the re-excavated pit and was unable to locate any evidence of this tunnel.
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