Rank 1

This random encounter is what kicks off the challenge and rewards you with your first treasure map that will lead you to the actual first chest in Rank 2. The map is earned by either rescuing or looting the treasure hunter you run into.

Rank 2

North of Armadillo are some crossroads and the location of The Hanging Rock. Head around the back of this natural formation and face the mountains. Search around for a chest wedged between three large rocks. Inside is the Rank 3 Treasure Map, and Rhodes’ Gold, belonging to Brigadier General Sherman M. Rhodes and valued at $100 minimum, without bonuses.

Rank 3

The next chest is in the vicinity of Del Lobo Rock campsite, in Rio Del Lobo. You will see the natural formation indicated on the map when you face the river. Head to the right of the rock and descend to the ledge with the chest. Contained within is the next Treasure Map, and Jackson’s Gold, given to Brigadier General Ambrose Jackson Hood and valued at $125, base.

Rank 4

In Tumbleweed’s mansion, descend into the basement. A secondary route that avoids conflict with gang members can be used at the back of the mansion through some doors and down some stairs. The chest itself is buried beneath some stones with a cow skull hanging above it. Inside is Calhoun’s Gold, previously owned by Brigadier General Andrew John Calhoun and valued at $150 before bonuses, as well as the next Treasure Map.

Rank 5

Northwest of Chuparosa, walk the river bank of Rio del Toro, keeping a sharp lookout for a tree ornamented with the skulls of cattle. Search around the rock walls for the marking on the map until you find the chest in the ground. Inside is another Treasure Map, and Tubman’s Gold which belonged to Brigadier General Jefferson T. Tubman, worth $175 at minimum.

Completing Rank 5 also allows you to travel by stagecoach for free.

Rank 6

At Crooked Toes you will find several vertical piles of stones as depicted on the map. It will be necessary to ascend the highest one to find the chest containing the next Treasure Map, and Brown’s Gold, which was given to Major General Robert Clay Brown, and has a value of $200.

Rank 7

Back in the region of Chuparosa, head south to Ojo del Diablo. Under the massive natural arch, but tucked away on the upper ledge, is the chest. Contained within is Douglass’ Gold, belonging to Major General Thaddeus E. Douglass, worth $225, and the Rank 8 Treasure Map.

Rank 8

Travel north east from Agave Viejo, to Roca de Madera. Head for the rock-capped column. With the column at your back, look for the narrow path along the cliffside as depicted in the map. Follow it to the end to find the chest containing the penultimate Treasure Map, as well as Garrison’s Gold, formerly owned by Lieutenant General John J. Garrison, and valued at $300.

Rank 9

From Beecher’s Hope, head east to Broken Tree. You will expectedly come across a split tree with a low stone wall beneath it. The gap in the wall is where you will see the stone pile concealing the chest beneath it. Contained inside is the very last Treasure Map, as well as Pickett’s Gold, bequeathed to Lieutenant General Jeb Pickett, and worth $400 at least.

Rank 10

Head north west from Manzanita Post to Tall Trees and consult your game map. Note the path that branches off to the north from the main east-west road, up into Nekoti Rock. This path leads to a bear cave at its apex. Head inside and look around for the familiar pile of rocks concealing the treasure chest. Within is Stonewall’s Gold, once owned by General Robert A. Stonewall, and valued at $500, without bonuses.

Completing Rank 10 of the Treasure Hunter challenge will also earn you the Treasure Hunter’s satchel, doubling your consumables capacity from five to ten.

And those are all ten treasure hunter challenge ranks and nine treasure locations in Red Dead Redemption 1.