When one thinks of treasure during the golden age of piracy (circa 1650 – 1730) it is hard not to imagine a heavily laden Spanish Galleon leaving the New World on its slow journey back to enrich Spanish Royals.
The Spanish were expert, often ruthless, in the manner by which they extracted gold and riches from the Americas. Beginning in the Caribbean islands and then moving to the mainland to relieve the Aztecs and Incas of their gold.
Many ships from the treasure fleets never made their destination, being sunk upon reefs or during ferocious storms. Such was the case on October 31, 1641 when the Spanish galleon Concepción struck a reef off the Bahamas and deposited a huge treasure in relatively shallow water.
In 1685 William Phips was granted rights by the King of England to seek the Concepción and recover its treasure or that of any other treasure found in the area. Returning to England in 1687 with over 68,000 lbs. of silver. He was Knighted for his efforts and returned to the wreck with additional ships although little additional treasure was reported found.
Those who have plotted Phip's activities during, and subsequent to this period, suggest that he had the time and resources to construct the Money Pit on Oak Island in order to hide the additional treasure which had actually been recovered from the Concepción. In 1690 we find him attacking Port Royal and Quebec, so he was well acquainted with these waters as were many mariners of the day.
A great horde of Spanish Treasure recovered by the English and resting at the bottom of the Money Pit? As plausible a theory as any other it would seem.
