I did read through the wiki page, but I am sort of confused now.
Is Letterboxing the same concept as what we usually call a Treasure hunt?
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The biggest difference between letterboxing (at least on Dartmoor, its original home) are:
According to the Treasure Hunt wiki page, Letterboxing is considered a form of treasure hunting. Clues are distributed by various manners, including orally, and lead to a specific destination. A difference that stands out to me is that Letterboxing, specifically, tends to include stamps that a player can stamp their own personal log book with to keep track of their exploits. My overall impression of treasure hunts, in contrast, is that you are retrieving a specific object in a treasure hunt.
Along the same lines is geocaching, which has a wiki page that compares and contrasts with other forms of treasure hunting. Geocaching tends to use GPS coordinates instead of a series of distributed clues - although there are caches which list clues to another cache in a chain.