The number would give the finder a way to get in touch with the person who left it. He thought that if he numbered each coin, 1 to 1,000, then searchers could leave them in the wilderness for each other to discover. Any item that appeals to that trait will sell.Ī while back, Las Vegas searcher Mike Cowling decided to make Fenn-branded coins, much like challenge coins in the military. The Fenn search attracts a certain kind of person - specifically, one who appreciates history - and that means most participants also share a love of collecting. Like Hedblom, most of the searchers making money from the search are able to rake in profits because they know their audience well. (Controversially, it then boasted about the "New Clue Released in Famed Hunt for New Mexico Treasure." Fenn later refuted this, saying that he did not give clues in the clip and people should not interpret his participation to mean that the chest is in New Mexico.) New Mexico's tourism department is so grateful for the buzz that it featured Fenn himself in a promotional video back in 2015. And because the 88-year-old lives in New Mexico and has said the treasure is "in the mountains north of Santa Fe," many searchers start their quests there. Nobody knows where Fenn hid the chest, but the general consensus is that it's hidden somewhere in Colorado, Wyoming, Montana or New Mexico. "We have money, and we're willing to spend it on our friends and willing to spend it on research and get out there and look for Forrest's treasure." A Modern-Day Gold Rush "Forrest himself was an entrepreneur," Neitzel points out. The book is $55 plus $8.99 shipping and handling. The cash is flowing, and a cottage industry has sprung up as a result.īeneficiaries range from the state of New Mexico to enterprising searchers like Dal Neitzel, who sells one of Fenn's memoirs on his blog. An estimated 350,000 people from around the world have participated in the treasure hunt, obsessively researching Fenn, buying equipment and traveling to the Rockies in pursuit of his multimillion-dollar chest. When the author-slash-art gallery owner stashed his riches out west a decade ago and published nine clues about the location, he created a phenomenon - and a customer base. People aren't just spending money searching the Rocky Mountains for Forrest Fenn's hidden treasure chest. In our reporting, we discovered another interesting trend. It can also be dangerous, as the Gallatin County Sheriff's Office pointed out in a recent warning to Fenn treasure hunters in Montana. People are spending thousands of dollars buying vintage maps, plane tickets, hiking gear and more as they search for the treasure.įor most, the chase is a hobby, but for some, it's an costly obsession. Earlier this week, Money published a deep dive into the global hunt for the Forrest Fenn treasure, a chest full of gold and jewels hidden in the Rocky Mountains.
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