dangerous with nukes and terrorists. tweet me @juliebanderas, i'm back here tomorrow. so i'll join you for easter. see you then. jamie: a cowboy inherits >> a montana cowboy inherits a ba barren patch of territory. he finds a patch of treasure. >> i'm going to try to see if i can survive with the ranch and sell the dinosaur bones. >> will this cow pokes inheritance lead him to boom or bust? >> lightning strikes, maybe

neve never. >> i'm jamie colby, and today i'm driving in the bad lands of eastern montana. it's rugged, big sky cattle ranching country. i'm on my way to meet a lifelong resident. his father left him a chunk of this land. >> my name is clayton phipps, and when my father passed away i inherited a portion of this ranch, along with that came a few surprises. >> 41-year-old clayton is like a character out of red river or lonesome dove. >> most of the time i'm on my own. i'm happy that way. this ranch has been in our family since my great-grandfather homesteaded here. and it's a part of me that i

just didn't feel like i ever wanted to part with. >> clayton grew up and learned to cowboy here on the ranch his father shared with three brothers. he describes the operation as cash poor but reasonably successful. >> my dad worked us hard, but that was a good thing, too. >> after clayton's father died in 1997, the ranch gets split up. at age 24, clayton inherits 1100 acres and 30 cows. that may sound like a lot. but to make a decent living these days, clayton would need ten times that much land and about 500 head of cattle. at least 40 acres for each cow. >> i always tell people this place is not big enough to starve to death on. it's every cowboy's dream to have their own place. >> okay, we're saddling up. >> just step on my knee with your right leg.

>> clayton insists i wear a helmet. >> that was pretty smooth. >> somebody must told him i'm a lawyer. i can see why clayton loves being out here. i also learn why he calls ranching a big gamble. >> there is a big gamble in ranching, wintertime can be hard, you can have storms. there can be loss. you can buy a bull for $10,000, he can go wreck himself or break his leg or something and you may not get any return out of him. >> for years, clayton worked a second job, hoping to make up enough money to build up his own herd. getting a ranch to pay off becomes more urgent when he calls my love with lisa who teaches at the local one room school house. >> love at first sight. my mom said she could see why i fell for him. my dad said, are you sure you shouldn't wait? we had a lot of fun together.

>> my wife i from minnesota. the whole thing has been a culture shock for her. you know, it's 120 miles to the nearest movie theater. the old timers would say this country is hard on horses and women. >> in 1998, the couple's first child, julie, is born, she will grow up to be a cow girl through and through. >> and julie came along, there is another mouth-to-mouth feed and more responsibility. you know, what am i going to do? >> it all ratchets up the pressure on clayton, trying to make the land more viable now. >> got to try to buy more land to raise enough cows to provide a living. >> then one day, clayton runs into a stranger who had been prospecting in the bad lands near his ranch. >> he started saying you know, this piece might sell for $500. it was a fragment of bone, and i'm like what? >> they were fossils, remnants

of giant beasts who lived here many years ago. clayton figures if there were that many valuable fossils on the neighbor's land, they must be on his. could they help him keep his home on the range. >> as i started to gather cattle i started watching and picking up fragments here and there, and then tried to learn more about it. it got me excited that you know, this stuff is everywhere. >> it's everywhere because his ranch sits right on one of the most important scientific areas on earth. the hell creek formation. 65 million years ago this was a warm forest. giants ruled the earth. peter larsen runs the black hills institute, which prepares fossils for museums and collectors. >> the hell creek formation shows us the ends of dinosaurs, going up to the time that the

asteroid crashed into the earth and actually caused the extinction of 70% of life forms here on earth. >> between shores, clayton looks through the ridges and gulleys on his land. he finds fragments, but nothing he could sell. these bones would not put meat on the table. then one day, something in the rocky soil catches clayton's eye. >> i looked and there was a t-rex item there. almost perfect condition. >> this is an example of your inheritance. >> clayton shows me a cast of his first real find in the back room where he prepares specimens for sale. it is a combination man cave, research library and trophy room. >> and i went home and sold it to a collector that night for $2500. and i was back in business. >> back in the ranching

business, that is. >> i used that money to buy my first cattle to help supplement my other disease, cattle. >> we were able to start our herd with something he found. that was pretty cool. >> pretty cool, sure. could the prehistoric artifacts be a win? >> when you're raising a family it was a gamble. you know? my wife was really skeptical. >> do you ever sit there and dream of another life? he is not listening right now. >> i have to confess, yeah, it's crossed my mind, i wouldn't give him up for anything. but you know, i was nervous. >> as month goes buy with no significant find, even clayton begins to have doubts. >> i got to one of my sites, the

tractor-trailer was flat, that was going to be a 5 or $600 bill. i thought i don't even know if this is what god wants me to do. i was broke. >> and then, as if by divine intervention, his luck changes. >> it was just the coolest little skull ever. >> that is next. ervention. >> it was the coolest school ever. >> our "strange i but first, our strange inheritance quiz question, which is not a real dinosaur? saltasaurus, bambiraptor, or tigorraptor? the answer when we return. pain. better? yeah...thanks for the tip!

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nissan. innovation that excites. ba egorrap . now, the answer to our strange inheritance question which is not a real dianne? the answer is three, tiggeraptor. >> and in 2003, clayton felt his montana ranch was a bust, it has been almost a year since he found a marketable bone. then he hits pay dirt in the form of a skull from a 65--year-old artifact. >> i named the skull lisa's dragon. this is the most complete skull discovered to date of this particular dinosaur. >> unearthing this relic instantly changes clayton's

outlook. >> it is a thrill for the discovery, you're the first person who sees it. it's a special feeling, hard to describe until you're actually in that position. >> that is amazing, wow. >> the real thrill comes from a collector buys the skull, netting clayton more than $40,000. the strange inheritance was about to pay off. >> it was about a year's wagie is for what i was making on the ranch. >> it bought him more time to make his grand plan work. >> i told lisa, i have a year to see if i can survive with our ranch and selling dinosaur ranches. >> meanwhile, the phipps family is expanding, a son arrives, his brother luke, three years later. two acorns that don't fall far from the tree. by now, dad has acquired a reputation and a new nickname,

dino-cowboy. professionals begin to respect his ability to find bones. >> the only way you can find fossils is with your eyes. and the only way you can do that is get out there on foot and walk. a guy like clayton can invent. he can solve problems. >> clayton offers to show a new york gal how it's done. he starts with a safety lecture. any snakes? >> there is rattle snakes, mountain lions, walking along a crust of a hill there could be a cavity, you could fall 30 feet down. >> you might find one. >> what is that? >> this is the end of a bone to a little plant eater. it's really cool. you can see the end of the bone. >> that is most definitely a bone. >> that is most likely a rib. >> i can see why they call him the dino cowboy.

and i could see how you could get hooked on fossil hunting. it's the feeling you get, picking something out of the dirt and realizing it's part of a living, breathing, behemoth, 65 million years ago. >> we're going to have a project here. >> i'm starting to think the whole phipps family has a sort of dino radar. in just the first few minutes, clayton's youngest, 7-year-old luke, finds a rib. okay, i'm having a blast, can i get down here and look, is this just wood? i found part of a leg bone, amazing. slowly but surely, it came off the dinosaur. >> hopefully this will produce more skeleton. >> so we found a spot worth looking into? >> oh, for sure. >> clayton knows there is dino gold somewhere in these hills and he aims to find it.

>> there was one that sold for $8 million. that was one find. >> the 40-foot long t-rex named sue now stands in the chicago museum. >> it could buy a lot of cattle. >> it would help. >> fortunately, his reputation as a man who can find old bones leaves an experienced hunter to knock on his door. >> clayton is a total modern day mountain man, or mcgyver. i went to his ranch where we started to look for fossils together. >> another chapter in this strange inheritance story is about to begin. >> you always think over the next ridge or patch of bad lands it will be there. i'm going to find that big one. >> as it turns out, mark's words are prophetic. that is next on "strange

inheritance". >> which came first, dinosaurs, sharks or cockroaches. the answer in a moment. when eating healthy and drinking water just isn't enough to ease my constipation i trust dulcolax tablets. i take dulcolax for dependable overnight relief and in the morning, i am back to myself dulcolax, designed for dependable relief

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. now, the answer to our quiz question, which came first, the answer is b, the oldest shark fossil is more than 400 million years old. the oldest cockroach fossil is 350 million years old, the oldest dinosaur arrived 100 million years later. >> as i listen to clayton phipps tell the story of the ranch left to him by his father, i can't help but think that this strange inheritance is not just about this huge montana bad lands filled with dinosaur bones. it's also the unexpected journey

that came next, from struggling rancher, to hopeful husband, to dad worried about being a good provider, and then to renowned dino-cowboy, who is still hoping to find a way to make it all work financially. he gets a boost when this professional knocks on his door. using clayton's ranch as a base of operations, they set out to scour not only the phipps' ranch but also the formation of the area on which it sits. in june of 2006, mark scans a rock cropping, and finds bones from a seven-foot tall plant eater. it is these guys right here, more than 75 million years ago. it's only about 60 miles from the phipps' ranch, but the journey is logged on strange

enher -- inheritance and will transport him to a place unknown, after cutting a deal with the professional, he starts to pick away with a shovel, and then finally a backhammer. >> i realize there is this giant meat hook killing a nasty looking creature. >> clayton uncovered the bones, intertwined with the bones. >> i started to brush the dirt and the sand and i start to see an arm and a leg below the arm, and whoa! son of a gun, there is another dinosaur here and it was not friends with the one we just found. that is when i went ballistic. >> it's a monster discovery. clayton's son, daniel, and daughter julie, get a sense of

the enormous size of these two creatures. predator and prey, apparently locked in a battle to the death. one is a plant-eating triseratops, the other looks like a t-rex. >> i was talking to a fossil dealer, he said clayton you're the luckiest guy i know, who could go out with a back who and uncover the biggest meat eater ever? >> it's one of the most fantastic dinosaur specimens that has been found ever. it's one of the few instances where we can actually find the culprit, how did this animal die and what killed it? >> we believe they killed each other. >> wait, in battle? how can you tell that? >> clayton explains using this model. >> we have the teeth from the

pray pr prey, some imbed ed in the pelvs area. i would give anything to go back and see how it happened. >> for a cowboy and his family just scraping buy, the dueling dino is working to find more. and the giant t-rex unearthed in 1990 were paid for. they sought a multi million dollar deal that would promote access by the scientists and the public. seven years pass, but no public institution bite. so in november 2013, clayton moves on to plan b. >> the auction company contacted us. they said would you guys be

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now, back to "strange inheritance". >> november 2013, 16 years since clayton phipps inherited this montana ranch from his father. ten years since he dug up the $40,000 skull that sealed his reputation as the dino cowboy. and it's seven years since he made one of the most fantastic discoveries in history. two prehistoric beasts locked in combat. now, they're up for sale in new york. the bidding starts at $3 million. it's $5.5 million -- then stops. that may be a fortune to a struggling rancher, but it's far below the $7 million reserve

price set by clayton and his partners, the result? no sale. unlike the others who cashed in on t-rex sue, clayton walks away empty handed. >> i hope i'm not being too optimistic. >> clayton hopes he will get that and more. >> we all feel the economy hurt things, for sure. >> so back on the range, he continues to raise cattle, search for fossils, and tinker in his lab, still waiting for his big find to pay off. if one day however, those duelling dinos or perhaps other spectacular fossils yet to be unearthed on his strange inheritance do make him rich, i'm betting the path of clayton's life still circles back to this piece of montana.

>> i'm living the dream. and because i can stay outside and have the thrill of discovery, with the dinosaur, that fits into it perfectly. it's my hope that i can do this for as long as i'm able to do it. >> those duelling dinosaurs are now part of a pretty fierce fight among modern-day scientists. there are some who believe the small but vicious predator is simply a young tyrannasaurus, but there are others, including clayton, who believe they uncovered a specimen of a newly undiscovered species, a nano- nano-tyranasus. we're talking about one 30 feet long, certainly there is no dino who wanted to meet the likes of that in the ring. remember, you can't take it with

you. do you have a strange inheritance story you would like to share with us? we would love to hear it. send me an e-mail or go to our website, strangeinheritance.com. >> a sanctuary for exotic a sanctuary for exotic animals. >> he is doing good. >> the call of the wild. >> rescued by quite an odd duck himself. >> 26,000 pounds of chicken or beef every week. >> what was his reputation? >> wild man. >> is he a guy who plays by the ru rules? >> no. >> when he dies, the authorities want to shut his heir down. >> they left you with a mess. >> will it cost his widow her strange inheritance? >> i didn't go through everything