Could Dutch Schultz’s Buried Treasure Still Be Hidden in New York’s Catskills?

If you were walking through the Catskills near Phoenicia, would you ever wonder whether a gangster’s fortune was buried somewhere under your feet?

My 11-year-old son has already taken that daydream a step further. He started imagining what we’d buy if we found buried treasure. His pick? A house with land. That’s a pretty interesting dream for a kid his age, and this treasure story has sparked imaginations for generations.

The Dutch Schultz Treasure Legend Leads to Phoenicia

Dutch Schultz was the underworld name of Arthur Flegenheimer, a New York gangster who made money through bootlegging and illegal gambling during the 1920s and 1930s. He faced federal tax evasion charges and was acquitted in a 1935 trial, according to New York court records.

The legend says Schultz feared prison and hid millions of dollars in a metal box near Phoenicia, with help from his bodyguard, Bernard “Lulu” Rosenkrantz. Some versions place the box near Esopus Creek. What was inside changes from one telling to another, with cash, bonds, gold, and diamonds all making appearances.

But the details are murky. The Associated Press reported that stories about the treasure vary and there’s no definitive proof Schultz buried anything.

Dutch Schultz’s Death Added to the Catskills Mystery

On October 23, 1935, Schultz and several members of his crew were shot at a restaurant in Newark, New Jersey. Schultz died the next day. Rosenkrantz was also shot and later died.

Schultz’s rambling words as he lay dying were recorded, and treasure seekers have tried to interpret them as clues. But they weren’t a clear map or a direct explanation of where anything was buried. A New Yorker account of the legend describes how the supposed clues and possible hiding places vary.

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Treasure Hunters Still Search Near Phoenicia

Searchers have brought metal detectors and maps to the Catskills, hoping to find the box. In 2005, the AP followed a group of treasure hunters near Phoenicia. They found bits of metal, but no gangster fortune.

That’s what makes the story so easy to picture and so hard to prove. Schultz was real. Phoenicia is real. The treasure remains a legend, with no confirmed hiding spot or verified discovery.

So, could Dutch Schultz’s buried treasure still be in the Catskills? Maybe. My son has already decided what he’d do with it. For now, though, that house with land is still just a daydream.