The story delves into the consequences of greed in multiple ways. At first, Vargas's family suffers because he stubbornly refuses to dig up his concealed gold. As a result, Vargas's "children went hungry and his wife wore rags." He even refuses "to pay the fees for his children’s schooling," and when he has an illegitimate child with Concha, he pretends to be "drunker than usual" to avoid retrieving his gold. In the end, Vargas pays the ultimate price for his greed—his life. He becomes obsessed with gambling, "hoping to get rich with one lucky stroke," and starts making increasingly larger bets. When he makes the biggest wager with the Lieutenant, he declares that if he loses, "I will pay with my buried gold." Despite being crushed by his gambling loss, he initially thinks he can still depend on the buried gold to rescue him.

However, his greed finally catches up with him. Someone—likely Antonia and/or Concha, as Allende's conclusion implies—has secretly taken the gold, leaving him unable to cover his gambling debt. Inevitably, he meets "the end everyone had known would be his sooner or later," when he is found murdered. "He did not return that night, and two days later someone brought the news that his mutilated body had been found in the very ravine where he had hidden his treasure." It is a bitter irony that the place which once held his fortune becomes the location where his murderers dispose of Vargas's body, as his greed led him to value his gold above his own life.

Agua Santa operates under a peculiar set of moral guidelines. Vargas lives in a community where "they could tolerate a man who mistreated his family, a man who was lazy and a troublemaker, who never paid back money he borrowed." Vargas takes full advantage of the town's forgiving nature. Allende describes that regarding his wife, "there were times that her body was covered with black-and-blue marks; no one had to ask, all Agua Santa knew about the abuse she took from her husband." Moreover, Vargas "had no decency; he borrowed money with no intention of paying it back." When Concha arrives in town with Vargas's child, Riad Halabí, the store owner and "the only person capable of shaming the brute," warns Vargas that he's in significant trouble this time. He emphasizes that Vargas is "old enough to be the girl’s grandfather, and if he thought that people were going to forgive him his sins this time, he was mistaken."

Vargas realizes the threat is hollow because he knows the only unforgivable offense in the town is failing to settle gambling debts, which are deemed "sacred." Even the "crooked" guards "dared not play if they couldn't pay. No one violated that rule." Consequently, Vargas remains secure for the majority of the story, as his fear of losing his gold prevents him from gambling. However, he oversteps when he attempts "to coax Concha Díaz back to his hammock, despite the fact the woman had an unhealed scar and battlefield dressing across her belly." This immoral act prompts Antonia "to keep the old vulture from getting his way," leading her and Concha to unite and drive Vargas out. This unforeseen defiance from the women bruises Vargas's ego, driving him to gamble in a bid to reclaim his standing. By doing so, he opens himself up to the gambling debt that ultimately destroys him, paying the ultimate price for his unethical actions with his life.

Despite the town's lenient ethical standards, which often let Vargas evade accountability, many residents...