The time capsule, a copper box from 1887, has been making headlines for weeks in connection with the dismantling of a statue of Southern General Robert E Lee.
Before Christmas, a lead box was dug up which was first thought to be the capsule, but when it was opened it was clear that it was the wrong capsule.
There was certainly a silver coin, an envelope and a couple of water-damaged books, but it was not the treasure historians had hoped for, notes the local CBS channel.
The right box found
On Monday, another container was found.
Kate Ridgway at Virginia State Department of Historical Assets says the copper box weighed just over 16 pounds [16 kg] and was found in a space in the base of the statue.
- It seems that this is the box we expected, says Kate Ridgway.
The copper box contained, among other things, several water-damaged books, pamphlets, newspapers and money.
It also contained buttons, coins and ammunition used in the American Civil War.
The existence of the copper box was known thanks to an article in the local newspaper Richmond Dispatch from 1887. The article says that residents, organizations and companies came together and created the canister this year and that it contains memorabilia from the southern states, reports the public service channel NPR.
Protests against racism
Rumor has it that the box was buried next to the statue of Southern General Robert E Lee that has long stood in Richmond, the capital of the Southern States.
The monument was taken down in September, in light of the protests against racism and discrimination that have shaken the United States in recent years.
In some quarters, Lee has come to symbolize racism and segregation because the southern states fought during the Civil War in the 1860s to keep slavery.
However, the shelf after Lee's statue remained until December, when Northam ordered that it also be removed.
That was when the two containers were found.