There is a legend that 8 burro-loads of 50 lb. gold bars were buried by the Spanish about 300 feet away from a strange arrangement of rocks, one of which was in the shape of a doll and stood about 30 feet high. The site is near an early 1800s village in the foothills of the Spanish Peaks. Most of the Spanish were killed and the cache of gold was never recovered. Many believe the doll-shaped rock was located on the N.W. slope of West Spanish Peak, N.W. of LaVeta. Still other sources claim the site was located on the N.W. quadrant of East Spanish Peak.
Lost Army Payroll
In 1863, a stagecoach carrying an army payroll of $60,000 in $10 and $20 gold coins, destined for Fort Sanders in Wyoming Territory, was robbed by 6 outlaws at Long View Hill, a few miles out of Virginia Dale, Colorado. The gang took the strongbox from the stage and headed west towards the wooded foothills, where they blew the lock off of the box, removed the gold coins, and buried the treasure. A detachment of soldiers were in hot pursuit and, in a raging gunfight, 5 of the gang were killed and the other escaped, only to be captured a short time later and hanged. The soldiers conducted 4 formal searches for the payroll as did countless citizens, but it was never recovered, even though the soldiers did find the empty strongbox.