I have two treasure maps(three but I got the first treasure). I go to the locations that it appears the maps denote(1 is definitely the lady stone). The treasure is not there. Is having 2 maps present the issue or are treasures bugged?

I stopped trying to use the treasure maps. They are useless and horribly drawn in my opinion. Whenever I did find the "treasures" they weren't worth all the effort to actually find them.

The Lady Stone treasure map is bugged as the chest does not spawn. It would not surprise me if other maps have the same problem.

It is probably neither.
There is a lot of room for interpretation with the treasure maps. Just walking up to a landmark shown on one won't reveal its exact location.
It's more important to try to match up the perspective of the location with the map, where, let's say the map shows a picture of a particular building and maybe a fence in the foreground. What you have to do is look at the building from the same position the map shows, with the fence overlapping it the same way in front of you as it does on the map.
There are other maps with 2 images: a picture like the one mentioned above, then a line leading to an "x". For those, first you have to line up the view from the first picture, then try to follow the path shown in the second. Then you will have your treasure. But they're not all that great. It is, as they say, the journey that matters, not the destination, though, isn't it?

I thought they were terrible drawings. I was not able to make heads or tails of them.

Ive always been able to follow the ones ive gotten. Im glad they aren't totally obvious (the solitude lighthouse one was a bit of a dead giveaway) but still give you recognizable landmarks. Ive gotten about 3 or 4 of them so far and all of em ive found easily but the rewards were a bit meh. I would hope a treasure map would lead me to something a bit more "wow" then a bit of coin and a few measly trinkets if that.

I just wanted to do the stuff. I tend to ignore the main game for a while and just run around. The treasure maps are a fun distraction and don't lead me any where to pressing in the game. The Lady Stone map treasure should be in a line from the stone to an outcropping of land and submerged. I have searched a widening circle from the position I guessed it to be and have ended up on the Lady Stone Island and the other side of the outcropping and even into the ruins, and still not found it.

Sad that it is bugged.

Wasn't the one by the Lady Stone actually underwater a bit to the northeast? So, not at the Lady Stone, but near.

Yes the lady stone one is at the bottom of the lake, a stones throw SE of the azuras star ruin.
Anyway, i really like them and think the drawings are fine, sometimes i have trouble recognizing the land mark but i ussually do if i come across it while exploring.
Rewards are kind of hit and miss... mostly miss, but i've found some decent stuff in them for my level, like a dwarven long sword around level 5 and some glass boots around level 20

They all are working fine for me. They've worked fine regardless patch level - but others in other posts have definitely had issues prior to the latest patch.

One map told me to go up a mountain and go to its edge. I did exactly that, but i got nothing.

After that, i went even higher checked all around the location. EVERYWHERE.
I spent, in all seriousness, like 30 min just looking for it. And not a thing was found in the area.
After that, i came down and felt like that was such a waste of time. I threw the paper down, and shot an arrow at it.
Good ridance.

I've found the chests for maps 1,3 and 4 but number 10 (the Lady Stone) doesn't seem to be there, as the original poster said.

I think interpreting the drawings is part of the challenge.

I never had any problems with any of them... I mean, I had problems finding the location, but they were always there for me when I did find them.

The one near the Lady Stone is tricky. I almost drowned a few times trying to find it.
It is NE of the Stone, but it is tucked under a rock that leans to the North.... so it is easy to miss if you're swimming from the SW.
Take a deep breath, and dive.

The only map I have so far is 4 and the treasure does not appear to be there...the map is pretty self explanatory so I'm sure I'm not missing it...

I have yet to find even one (1) treasure map.

I've got a Level 31 Dunmer Assassin, discovered and explored well over 100+ locations... no maps.

I know that they are most likely queued to appear randomly in loot, but damn...

Nope. They're in set locations, most of which are in unmarked out of the way places you'd have to explore to find.

http://www.uesp.net/wiki/Skyrim:Map_Notes

1.2 broke everything by making the chests not spawn, but it seems that's been sorted in 1.3 for at least some of them, anyway.

So far on this character, I only map have #1... but the chest is there, and it respawns its loot every few days.

I have three maps and no clue where they all are located because, being color blind I can't read the damn maps.

The wiki link I posted earlier tells you where to find the treasure.

They are a little lame if you ask me, the first one I got I spent ALL day searching for it expecting some crazy reward.. and got a dwemer dagger. for reals?

It may not be valuable to you, but for the common nord yokel that stashed it there it was.

"Some may call this trash, but I call them treasures"
~common nord yokel merchant motto

That's probably why I hadn't found any of them yet... now I feel less intelligent. lol

I suppose that explains the need for a map, if I was to hide something at or on a landmark, I'd remember that [censored]!