However, Norman Island also has a documented history of pirate booty being stowed upon the island. In August 1750 a Spanish treasure galleon named Nuestra Señora de Guadalupe sought shelter from a storm on the North Carolina coast. The crew mutinied and the treasure, said to consist of (amongst other things) 55 chests of silver coins, was loaded into two Bilanders, one of which was manned by Owen Lloyd. The first vessel perished, but Lloyd escaped to St. Croix. After disposing of some of the money, he proceeded to Norman Island where the treasure was buried. Lloyd and his crew were later arrested in St. Eustatius, but word of the treasure spread, and residents of Tortola went to Norman Island and dug it up for themselves. Part of the booty was later recovered by Gilbert Fleming, Lieutenant-General of the Leeward Islands at the time, who travelled to Tortola with two companies of soldiers. Fleming persuaded Abraham Chalwill, the acting Lieutenant Governor of the British Virgin Islands (who had coincidentally lead the search for the treasure on Norman Island) to issue a proclamation whereby the treasure would be returned and the people who had dug it up would receive a one-third share as a reward.
There the historical record ends, but local rumours abound that a member of a well-known local family had been fishing near Norman Island and took shelter in one of the caves on the Western coast of Norman Island during a storm. The surge repeatedly banged his small boat against the walls of the cave, whilst the storm surge caused the water level to rise several feet. When the fortunate fisherman woke the next morning, a large number of rocks had broken off into his small craft, as had a small chest, supposedly filled with gold doubloons. The story cannot be verified as no legal application for treasure trove was ever made, but it is known that members of the family ceased being fisherman and left Tortola at about the time to open some shops in Charlotte Amalie in St. Thomas.
Rumours persist of more pirate gold to be found on Norman Island, although to date no applications have ever been made for treasure trove.