Yeah, this is one of those stories like the infamous money pit where it sounds like a real life treasure hunt at first, but when you stop and think about the details you realize that it's almost certainly a hoax.

In general burying lots of money doesn't make much sense. Most people want to, you know, buy stuff with it instead. Rugged frontiersmen weren't worrying about saving up for retirement, and it would take an enormous amount of trust in your fellow man to bury all of that money in one place and worry about one of them sneaking back and stealing it all.