Yes of course it is
You should probably make a proper expedition to the museums of Northern Iceland - because if you get as far as Hólmavík in the NorthWest you can go and visit the Witchcraft Museum and see their most prized exhibit - a pair of necropants.
What are necropants? I hear you cry.
Well they're for finding gold. To prepare your necropants you have to make an agreement with a friend that he (and it must be a he as you'll see shortly) will help you in the next life. Your friend must then die of natural causes and be buried. Shortly after he's been interred you dig up his body and skin his lower half to make a pair of trousers. Put on your fashionable new pair of strides and place a piece of gold in the erm - handily provided pouch and you will be guided to treasure.
Before satellite TV, I'm sure this must have passed many a long winter's evening on the edge of the Arctic.