By Greg Argos

By Greg Argos

PHILADELPHIA (CBS) — Treasure hunters, get ready! There could be a fortune buried under a Philadelphia neighborhood.

Historian Dr. Daniel Rolph came across a handwritten card from the library catalog at The Historical Society of Pennsylvania.

So, he went into the archives and found that original letter, dated May 14, 1716.

“It does talk about pistolas and doubloons,” said Rolph.

Rolph says the letter is written from brother to brother and it describes the location of a massive treasure. Rolph says he believes the treasure was buried years before 1716 by a member of The Free Society of Traders. “They were involved in mercantile business and economics,” he explained.

That organization went bankrupt in 1723.

“I wonder if this was one of the members of the Society of Traders and sees the writing the wall,” Rolph said.

Some say the treasure must have been recovered years ago, but there were strict instructions to destroy that letter after recovering the fortune. “But for some reason it wasn’t so, you wonder was it because the man passed away, he never recovered the treasure, somebody else found it. What happened?” Rolph explained.

And so do many people who live and work in Society Hill. “Maybe they’ll turn it up,” said Rolph. “They’ll turn up some rotted chest…it’ll be national news.”

A professional treasure hunter, who looked at the letter, spoke with Eyewitness News and said the treasure is buried at least six feet deep.