Deep, Perfect Round Hole with Something Metallic at the Bottom: Can You Guess What It Is?

Austrian farmer named Franz Koglinger went looking for his lost cat when he stumbled upon this 25-foot-deep, perfectly round hole in his field that - as he claimed - appeared overnight.

So naturally, Franz threw a rock down the deep hole and heard a metallic clunk. Next, he tried a magnet, which stuck to something metallic. What could this mysterious hole be all about?

... soon the mystery drew local, national and, finally, international attention. Curiosity-seekers, geologists and UFO buffs flocked to the farm to see the hole for themselves. A buried UFO became a favorite explanation.

There is a perfectly logical solution to this, Neatoramanaut, as Benjamin Radford of Skeptical Inquirer wrote over at Life's Little Mystery, but see if you can come up with an answer first: Link

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Wild guess: a previous land owner was drilling pilot holes looking for water. This one was dry so they capped it with a metal plate and a few inches of soil. Over time the plate slipped and fell into the hole, allowing the earth above to crumble. The current owner might want to get a metal detector and see if there are other similarly capped but unfilled holes so they can be made safe.
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