The 20-year-old time capsules had been filled by different families and organisations in Dubbo.

The time capsules were located in October last year, 20 years after they had been buried. They were difficult to find as they had been buried about eight feet under the ground.

However, on Friday the families only had to dig them up from a shallow pit.

The time capsules were owned by: the Salmon family, Dubbo City Times, the Bassett family, the Haywood family, Rotary Club of Dubbo Macquarie, Dubbo Private Hospital, and the Pearson and Morrison family.

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Unfortunately, water had leaked into some of the capsules.

Lyndell Bassett was among those eagerly digging to discover what had been buried.

While she remembered filling the time capsule 20 years ago, she had no idea what she would find inside.

As well as photos, the capsule had old copies of the Daily Liberal and a tape.

Andrew Bassett said he was looking forward to drying everything out so they could discover the significance of the items.

He was about 13-years-old when the items were buried.

Jessica Sweeney said she had a faint memory of what had been buried in her family's capsule.

It contained items like coins, her dad's Cadbury toy truck and photos.

"It's unfortunate not everything has survived but its still a bit of fun. I had been looking forward to it," she said.

Pam Larsen and her family were lucky. Their capsule, which was dug up early so it could be opened over Christmas, had no water damage.

Ms Larsen said it contained a lot of family history, photos and each of her four daughters had written down what they'd like to happen across the next 20 years.

She said everything was in perfect condition.

Ms Larsen also accepted the private hospital capsule. She said it would be opened at a morning tea so everyone could see what was inside.

Mayor Ben Shields had also buried a time capsule. His, which contained his first licence and how to vote cards, was revealed last year.

The capsules were buried on Australia Day at Elizabeth Park.