A buried treasure is an important part of the popular beliefs surrounding pirates and Old West outlaws. According to popular conception, criminals and others often buried their stolen fortunes in remote places, intending to return for them later, often with the use of treasure maps.

In reality, pirates burying treasure was rare: the only pirate known to have buried treasure was William Kidd, who is believed to have buried at least some of his wealth on Long Island before sailing into New York. Kidd had originally been commissioned as a privateer for England, but his behavior had strayed into outright piracy, and he hoped that his treasure could serve as a bargaining chip in negotiations to avoid punishment. His bid was unsuccessful, however, and Kidd was hanged as a pirate.

In English fiction there are three well known stories that helped to popularize the myth of buried pirate treasure: "Wolfert Webber" (1824) by Washington Irving, "The Gold-Bug" (1843) by Edgar Allan Poe and Treasure Island (1883) by Robert Louis Stevenson. They differ widely in plot and literary treatment but are blood kin from the common ancestor of the William Kidd legend. David Cordingly states that "The effect of Treasure Island on our perception of pirates cannot be overestimated," and says of the idea of treasure maps leading to buried treasure that, "[I]t is an entirely fictional device." Stevenson's Treasure Island was directly influenced by Irving's "Wolfert Webber", Stevenson saying in his preface "It is my debt to Washington Irving that exercises my conscience, and justly so, for I believe plagiarism was rarely carried farther... the whole inner spirit and a good deal of the material detail of my first chapters... were the property of Washington Irving."

Jesse Woodson James (September 5, 1847 – April 3, 1882) was an American outlaw, gang leader, bank robber, train robber and murderer from the state of Missouri and the most famous member of the James-Younger Gang. Already a celebrity when he was alive, he became a legendary figure of the Wild West after his death. Some recent scholars place him in the context of regional insurgencies of ex-Confederates following the American Civil War rather than a manifestation of frontier lawlessness or alleged economic justice.

Jesse and his brother Frank James were Confederate guerrillas during the Civil War. They were accused of participating in atrocities committed against Union soldiers. After the war, as members of one gang or another, they robbed banks, stagecoaches and trains. Despite popular portrayals of James as a kind of Robin Hood, robbing from the rich and giving to the poor, there is no evidence that he and his gang used their robbery gains for anyone but themselves.

The James brothers were most active with their gang from about 1866 until 1876, when their attempted robbery of a bank in Northfield, Minnesota, resulted in the capture or deaths of several members. They continued in crime for several years, recruiting new members, but were under increasing pressure from law enforcement. On April 3, 1882, Jesse James was killed by Robert Ford, who was a member of the gang living in the James house and who was hoping to collect a state reward on James' head.