photo: Leo Boudreau / Flickr/The German Reich Railway in the service of the 1936 Olympic Games, Berlin
The legend of the Nazi gold train has fascinated treasure hunters for decades. But is it a myth or reality? Here’s what the evidence—and failed expeditions—really say.
For decades, treasure hunters, historians, and conspiracy theorists alike have been captivated by the legend of the Nazi gold train, a supposed hidden locomotive loaded with gold, jewels, and priceless artworks. Said to have disappeared into the Owl Mountains in Poland as the Soviet army advanced during World War II, the train has become one of Europe's most enduring lost treasure mysteries. Despite multiple excavations, radar scans, and expert analyses, no train has ever been found.
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The story first gained global attention in 2015, when two amateur explorers, Piotr Koper and Andreas Richter, claimed to have discovered a 100-meter-long armored train buried near Wałbrzych. Their announcement triggered an international frenzy, drawing in historians, geologists, and hopeful adventurers. However, according to Heritage Daily, after years of failed searches and mounting skepticism, many now believe the Nazi gold train is nothing more than a myth.
The Origins of the Legend
The roots of the Nazi gold train story can be traced back to the final months of World War II, when the Einsatzstab Reichsleiter Rosenberg (ERR) systematically looted priceless artifacts from across occupied Europe. As Heritage Daily notes, the Nazis seized everything from fine art and rare manuscripts to entire collections from Jewish families, shipping millions of valuables back to Germany.
As the war neared its end, the Red Army’s rapid advance into Eastern Europe forced Nazi officials to scramble to protect their stolen wealth. According to local lore, an armored train carrying gold, silver, weapons, and possibly even parts of the fabled Amber Room was secretly transported into a network of underground tunnels near Ksiaz Castle in Poland. As ExplorersWeb reports, these tunnels were part of Project Riese, a mysterious Nazi underground construction effort that remains shrouded in secrecy to this day. Some theorists suggest the Nazis deliberately sealed the train within these tunnels, hoping to reclaim their treasure in the future.
Treasure Hunters and False Alarms
While there have been numerous searches for the lost train, none have yielded concrete results. In 2015, Polish treasure hunters Piotr Koper and Andreas Richter used ground-penetrating radar and claimed to have identified a large metal object buried 8-9 meters underground between Wałbrzych and Wrocław. Their claim gained credibility when Poland’s Deputy Culture Minister Piotr Żuchowski stated he was "99% sure" the train existed, according to Smithsonian Magazine.
Treasure hunters say they've found £200,000,000 in Nazi gold in Poland
byu/matti-san ineurope
Excavations began with funding from both private investors and the Polish government. Authorities even cordoned off the site to prevent unauthorized digging by hopeful treasure hunters. However, as noted by Heritage Daily, after months of digging, the Polish Geological Institute found no evidence of a train, tunnel, or treasure. Instead, the supposed radar readings turned out to be nothing more than natural rock formations. By 2016, the excavation was officially declared a failure. Janusz Madej, leader of the Kraków University of Science and Technology team, dismissed the claims outright, stating: "There may be a tunnel, but there is no train."
Despite this, Koper and Richter refused to give up. They attempted another excavation in 2018, drilling deeper into the site, but once again, found nothing. According to ExplorersWeb, while Richter eventually abandoned the search, Koper continues to hold out hope that the train—or at least some hidden treasure—remains undiscovered.
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Theories and Speculation
Why, then, does the Nazi gold train myth persist?
One possibility is that Project Riese remains largely unexplored. Many sections of the vast underground tunnel system remain inaccessible, either due to collapses or deliberate Nazi sabotage. As reported by The Christian Science Monitor, some believe that the train may still exist but lies beyond reach, buried beneath rubble or hidden behind sealed-off corridors.
Another theory suggests that the entire story was a post-war fabrication, fueled by Cold War paranoia, local folklore, and the human fascination with lost treasure. Given the lack of physical evidence, Smithsonian Magazine points out some historians argue that no Nazi train ever existed in the first place. However, the legend has undeniably boosted tourism in Wałbrzych. The Christian Science Monitor reports that the town, once struggling after the closure of its coal mines in the 1990s, saw a surge in visitors and economic growth thanks to the treasure hunt. "We've been hoping to become a tourist town since the mines closed, and it happened over one month because of the train story," noted local historian Mateusz Mykytyszyn.
A Hoax or an Unsolved Mystery?
While skeptics believe the Nazi gold train is nothing more than a sensational myth, others argue that too many questions remain unanswered.
Why did multiple witnesses claim to have seen treasure-laden Nazi trains entering the tunnels in 1945, never to emerge again? Why were Polish authorities initially so confident that Koper and Richter’s discovery was legitimate? And why does Project Riese remain so poorly documented, despite being one of the Nazis’ largest wartime construction projects?
The search for the train may have ended in disappointment, but the allure of hidden Nazi treasure still captivates treasure hunters and historians alike. Whether it is buried deep beneath the Polish countryside or simply a legend blown out of proportion, the Nazi gold train remains one of the most intriguing mysteries of World War II. And as long as there are those willing to dig for answers, the hunt is far from over.
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Sources: Heritage Daily; ExplorersWeb; The Christian Science Monitor; Smithsonian Magazine