This standing stone has a number of traditions associated with it, it looks very much like a Neolithic standing stone, although sources suggest that it actually dates to the fifth century, during the end of the Roman occupation. The name of the stone is certainly of Roman origin although it may have been old during the Roman period.
One legend suggests that there is treasure buried beneath the stone, and one day a local Carter tried to dig for the treasure, but was crushed to death when the stone fell on him. His ghost is said to haunt the spot, making an appearance on dark and misty nights. The tradition of buried treasure is a common folklore motif, and so is the fate of the carter, as in many tales those who search for fabled treasure come to a sticky end.
In other stories the site is haunted by a wagon and horses and their phantom driver.