Answer: That it was, Gail. Treasure Hunt, which debuted on ABC in September 1956 before jumping to NBC the following year and leaving the air in 1958, was hosted by Jan Murray and posed a series of questions to players who selected each other's categories. They earned 50 bucks for each correct answer, and whoever had the most money at the end of the question segment got to choose from among 30 treasure chests, hoping to avoid the worthless items and win themselves a chunk of money. To drive players nuts, of course, they were given the opportunity to sell their selected chest back before it was opened.
Two other things worth noting: Among the guest hosts for the original version were Buddy Hackett, "Buffalo" Bob Smith and Mel Allen; and Chuck Barris (The Gong Show) produced a syndicated, updated version in the '70s.