Tucked away in the small town of Panama behind an un-assuming grove of trees is an outcropping of Paleozoic rocks formed millions of years ago. There is great history in this rock formation from the creation of them in general to the men and women who have walked across the very ground and used the giant rocks and crevices as shelter. It is said that the rocks were found and used by local Iroquois tribes who used the site for shelter and in turn found deposits of metals from the formation and sold it to local settlers. Over the years once the great tribes departed the land and Panama became the city it was to become to rocks were used in many other ways. It is said that money has been hidden all over the rocks, in the crevices and crags, deep within the moist confines of the natural caves. It is said that a courier was attacked by bandits and a great sum of money was stolen and hidden in the rocks. When the thieves returned the exact site they hid it could not be found.
In the 1850’s a band of counterfeiters who resided in a local hotel were thought to have hidden all their forged money in the rocks. It is said that there was a tunnel system from that hotel to place in the rocks that they could use to conceal their counterfeited coin without detection. At some point this was all speculation until the local hotel burnt to the ground and forged coins were found in the rubble. The tunnel was then discovered and the hiding place where they hid their equipment and spoils was found. To this day organized searches over the years has revealed nothing of the loot supposedly concealed within the crevices. It may still be there waiting for someone to find it and claim it for their own.