Dutch Schultz treasure site

Dutch Schultz remains one of Prohibition's most notorious figures, and the legend of his buried treasure has captivated treasure hunters since his death in 1935. According to historical accounts, Schultz grew increasingly paranoid as federal authorities closed in on his criminal empire, and he allegedly transported a metal box or chest containing cash, bonds, gold, and jewelry to the Catskill Mountains. His bodyguard and confidant Bernard "Lulu" Rosenkrantz may have assisted in the burial, but Rosenkrantz died from wounds sustained in the same Newark tavern shooting that killed Schultz, taking the secret location to his grave.

Mainstream historians acknowledge that Schultz accumulated significant wealth through bootlegging and racketeering, and some believe he may indeed have hidden assets before his anticipated arrest or assassination. However, the exact amount of the alleged treasure varies wildly in different accounts, ranging from hundreds of thousands to several million dollars in 1930s currency. The lack of concrete evidence—no credible map, no deathbed confession, no recovered artifacts—leaves many researchers skeptical that any substantial cache was actually buried. Alternative theories suggest Schultz may have spent, hidden, or transferred his wealth through other means, or that the treasure story itself was exaggerated folklore.

The Catskill Mountains present formidable obstacles to systematic treasure hunting. The region encompasses hundreds of square miles of dense forest, rocky terrain, and waterways that have changed course over the decades. Metal detector enthusiasts and professional searchers have focused on areas near Phoenicia, where Schultz owned property and was known to have visited, but the wilderness has yielded no confirmed discoveries. Gates' investigation highlighted both the enduring appeal of the legend and the practical impossibility of searching such vast territory without more specific information.

The Dutch Schultz treasure represents a compelling intersection of American crime history and treasure hunting mythology. While the episode could not confirm the treasure's existence or location, it explored how Prohibition-era gangsters operated, why Schultz might have hidden assets, and why this particular legend has persisted when so many other treasure stories have faded. The investigation demonstrates that even well-documented historical figures can leave mysteries that may never be conclusively solved.

Best time to visit: Visit during late spring through early fall (May-October) when mountain trails are accessible and weather conditions are ideal for outdoor exploration.

Travel tip: Bring sturdy hiking boots and respect private property boundaries - much of the search area involves challenging mountain terrain and mixed public/private land ownership.