John Maxim and David Cline are using Instagram to periodically post clues to where it might be found.
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The updates have pinpointed it somewhere along the western edge of the Rocky Mountains, with many hypothesizing that it's in the state of Utah.
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Both Maxim and Cline teamed up to do a similar treasure hunt last year with $5,000 in hidden cash. The men say their reason for doing the hunts is to bring families together and bring some positivity to the world.
The friends have posted clues on their social media pages, but say those who sign up for the email list on their website, UtahTreasureHunts.com, will receive the extra hints one day early.