The GPS coordinates lead to a man-made structure with
information about the local geography imprinted. The cache is
hidden nearby.
A bronze plaque spells out the local legend, in Icelandic.
Here's a rough English translation:
Oral legend has it that on the farm Saurbær in
Siglufjörður, there lived a farmer called Álfur (i.e. "Elf"), who
had gained much wealth as a viking early in his life. He was a
pagan and well known for his magic, which always ensured him good
catch of fish.When he was old, he had a huge burial mound dug for
him, and had his ship placed inside it. As his death drew near he
went inside the mound and took along with him all his treasure. He
then had the mound sealed behind him, and placed a curse on it so
that no one should be able to disturb the mound while his molars
were still whole and had not turned to dust.Álfur's mound is now
called Álfhóll (i.e. "Elf's Hill")
P.S. Please help keeping the disc clean by wiping off some of
the seabird droppings. :-)