Ohio town launching treasure hunt for $10K worth of gold, jewelry

Tom Colosimo came up with a wacky idea to try to bring more people into Newton Falls and help struggling local businesses: create a treasure hunt with real treasure.

Inspired by the legacy of Forrest Fenn and his nationwide treasure hunt — more on him in a minute — Colosimo hopes to give away $10,000 worth of gold, silver, jewelry and cash.

Whoever finds the treasure, keeps it.

“I thought I could do something on a smaller scale for Newton Falls to bring a ton of people here … so I was playing off (Fenn’s) idea of a treasure chest of a million dollars,” said Colosimo, 53, who owns Fieldview Acres Mercantile in the small Trumbull County city.

The Newton Falls Treasure Hunt is expected to kick off in March.

As of Feb. 4, Colosimo said he’s gathered $7,000 in gold, silver, jewelry and cash, with a goal of having $10,000 worth of treasure. He’s looking for sponsors to help.

The Sarchione Chevrolet dealership in Garrettsville donated a 2026 PCGS MS70 Gold Eagle – First Strike, valued at over $5,000. Hometown Hound in Newton Falls donated a $1,000 in rare silver coins. Colosimo said he donated more than $1,000 in silver coins and jewelry.

“Everybody seems excited,” Colosimo said. “I wish somebody else was doing it so I could do it.”

Who inspired the Newton Falls Treasure Hunt?

Colosimo drew inspiration from Fenn, a New Mexico art dealer who hid a chest full of gold, jewels and valuables worth an estimated $1 million to $2 million in 2010. After hiding the chest, Fenn leaked clues. But it took more than a decade for someone to find the treasure.

The search — which has since inspired other nationwide hunts — resulted in some people being injured and even dying.

Colosimo doesn’t want anyone hurt during this hunt, which also coincides with the America250 celebration.

“Less risky,” he said. “Everything is going to be out in the open and the public areas. No trespassing. No going into water, climbing stuff or anything like that.”

Just like Fenn, Colosimo plans to provide clues in riddles and poems. He hopes the treasure will be found before the Fourth of July, meaning people spend plenty of time in Newton Falls and visit the local businesses.

And what if someone stumbles across the treasure on the first day?

“There’s no way,” he said, adding that he doesn’t think searchers will be able to decipher the clues to pinpoint the location that quickly.

Treasure hunt’s goal is to promote Newton Falls

Colosimo is releasing details about the hunt on the Facebook page for Fieldview Acres Mercantile. He said he will notify people when the hunt is over.

As for the actual treasure, it won’t be hidden. Colosimo has decided to hide a key to safeguard someone taking the gold, silver, jewelry and cash without letting anyone know.

No one but Colosimo will know where the key is hidden.

“My wife won’t even know,” he said.

The person who finds the key — which hasn’t been hidden yet — will have to return it to Colosimo to collect.

The ultimate goal, he said, is to promote the town and provide a boost for small businesses that are struggling.

Newton Falls is a beautiful community, he said, with two waterfalls, and the downtown, covered bridge and U.S.O. building on the National Register of Historic Places.

“We have a lot to offer. But we just got to figure out a way to get people here,” he said. “And I’m hoping if this goes well, we can do this every year.”

Paul McEwuen, general manager at Sarchione in Garrettsville, which is nearby, said buzz about the treasure hunt is growing and the dealership is excited to participate, especially because Colosimo has tied it to the America250 celebration.

“We’re excited to help bring everyone to the community and show them what Garrettsville and Newton Falls are all about,” he said.