If you are nodding in recognition of the famous last line of your favorite lost treasure legend, be assured that there are countless others worldwide reading and nodding in the same recognition of the ending of their own local legends. It can be fun spending a day out in search of some of these allusive caches. If you are serious about spending any real time and money in pursuit of the fabled loot, though, you would do well to consider finding out how likely it is that the story is based on an actual possibility before you "sell the farm" to search.

Of course, the newer the legend the easier it will be to track down the probable validity of the story, but even the older legends can be tracked down with some good research and a bit of time. Stories change over time and the modern version probably differs from the original story. The treasures in question almost always increase in size through the telling of the legend just as place and time may. You will want to start by seeing if you can find original legend sources as they will usually be the most accurate accounts.

The first step you may want to consider is going to the source region of the legend and having a talk with the area's older residents. Find out if they remember when they first heard the legend and if it is the same as it was when they first heard it. They might even be able to lead you to sources that will know more about it. City records or old newspaper archives can turn up much information about deaths, robberies, mining claims, and other statistical information that would correlate with a legend. Talk to retired city officials or policemen. They can usually provide a wealth of local history. Local museum staff or historical societies are also a great source of information. If you are lucky, you might even find someone else who has an interest in the legend and has already done much research about it.

Maps are a resource that the treasure hunter should not be without. Roads, landmarks, and even whole towns change over time. By comparing old maps to new ones you can find these differences. Some will not be relevant, but some changes may be extremely vital clues in your hunt. Topo maps can give details that regular road don't. Legends often give details about the terrain and you can quickly see on a topo map if you are looking at the right type of land formation.

When you find areas on the map that look promising, you may want to invest in a few Ariel photos. If photos are already available of the area you are wanting to examine, they are relatively inexpensive. If you have to have them taken they can be costly. By having an Ariel photo blown up to show detail, you can find many features in the land that you might never find otherwise. These photos can reveal old roads, settlement foundations, old mine areas, patches of new vegetation, and a myriad other clues that you'd have missed on foot but will help in your search. These photos may also help you place an old photograph or piece of literature that you found relevant in your history search.

By the time you have finished a history search and examined maps and photos of the area you will probably be pretty sure about whether you will be continuing the search or not. Now, if luck is with you, you will be finding the right detecting equipment and getting any necessary permissions or permits to continue your hunt. You might end up looking for a new legend to research. If the legend seems to have nothing to support its truth, don't be too disappointed, most will not. The bright side is that you will have some good historical knowledge about the subject and something to write about that will interest others.