My first Cache hunt

Yesterday I spent about 4 hours looking for a cache of gold coin buried in the 1960s. The property owner said the previous owner was a bank president back in the 1930's When the Government made it illegal to own gold and required all citizens to turn in their gold coins in to a federal bank in exchange for paper money,  this unscrupulus banker kept the coins for himself and had them stored in a specially made locking closet in the house. His children and grandchildren knew about them and saw them up until sometime in the 60's. when He died in the late 60's there was a mad scramble to get them but they were gone and the closet was unlocked......At various times since then the grandchildren have gone over the property with metal detectors and found nothing. Apparently they checked Granddad's bank records and there was no great deposit of money that would indicate he cashed them in so the grandchildren (some of them) believe the gold is still there..........(The story as told to me by the present landowner)

This is a very compelling story and I have verified that Grandad was a banker in the 1930's and I saw the closet with locking deadbolts on the outside. But I still want to check it out more before I put lots of time into this project.

My question is has anyone ever heard a story like this before? Is this another Urban Legand?  gambol 

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As Arfie said it could go either way. I have heard lots of stories about bankers hiding gold to keep it from being confiscated some prove to be true and several nice caches have been recovered many like most legends lead nowhere.
Let me add to what Arfie said. Check and see if the banker had  other property in the area a fishing camp or summer home close by even a rent house  is something to look at.

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That was the Second nail in the coffin of this country.

The First being the Creation of The Federal Reserve System in 1913.   

Yep!   I bet there is still quite a bit of stashes laying around.

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I have to agree wiht Homefire!  Throughout his writings Thomas Jefferson continually warned us about big banks and big government.  Looking  back through history we can see that evertime the Congress or president or supreme court went against what Jefferson warned us about we became a lesser nation with less freedoms and bigger government.  Now so many people Expect all the answers to come from "The Government" and not from individuals,  or groups of individuals!

Your are right Robroy, about treasure hunting being one of the best hobbies around.  I'm one of those people that find research to be fun.  When I was in college working on my history degree I found research to be one of the most fun aspects of history!  And it sure goes well with this hobby.  But you are right, sometimes it can be tedious...   but it almost always pays off in the long run!               

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ArfieBoy

You're getting the right research done, carrying you in the right direction, Gambol1!  Congrats!  Good luck finding the grandkids, and getting permission to search!  "Keep on swingin"!"       

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ArfieBoy