The Treasure Trove Act, the legislation which governs the exploration of shipwrecks in Nova Scotia, is an intensely debated topic among archaeologists, historians, divers, and the general public. Passed in the 1950s to facilitate treasure hunting on Nova Scotia’s infamous Oak Island, the Act has evolved to include the search and recovery of “precious stones or metals in a state other than their natural state”. Treasure Trove licenses are most commonly granted to commercial enterprises that typically recover such artifacts for subsequent sale on international markets, oftentimes affording little or no recording of archaeological context. In turn, the professional, academic, and public communities lose an important nonrenewable resource. If managed responsibly, Nova Scotia’s marine heritage is a viable source of sustainable development and should be respected and utilized for the cultural and historical value it has for all, not exploited for the economic gain of a few.