The Money Stone is quite a big granite block. It is 3.6 m long, 3 m wide and 2.3 m high, located on the northern shore slope of Lake Palpieris.
The legend tells that during the Great Northern War when Swedish soldiers were taking the army treasury to Alūksne they were attacked by Russian soldiers. The Swedish soldiers buried the chest with the money under the stone. Due to the legend, people have always searched the hidden treasure there and it is the reason why the surroundings of the stone are always dug up. Some of the treasure searchers have dug right beneath the stone therefore a cave has formed there and the stone sinks deeper and deeper. The people memory also keeps the stories about severe fights in the surroundings when the killed soldiers were buried near Lake Palpieris – the Swedes on the north-west shore, but the Russians on the east shore. Neither Swedish nor Russian ancient burial sites have been studied by archaeologists.