KMC Forums - possible 70s or 80s horror movie?

Sounds like Season 2, Episode 9 of Amazing Stories. A TV series presented by Spilberg.

Thanksgiving
Season 2 Episode 9
Aired date: Nov 24, 1986
Plot: Nora and her father Calvin are farmers who are digging a well for water. The two lower a flashlight on a rope down the hole. Suddenly something pulls on the rope. When they pull it up, they see that the flashlight has been replaced with a gold lingot. Calvin goes to town with it while Nora sends down another package to the "hole people" containing ham and a dictionary. When she pulls it back up she receives gold and jewels and a note thanking her, saying the 'ham' was very tasty, and asking for more things. She sends down chicken and gets even more gold. Calvin returns in a tow truck. On a tow cable, he sends down a container filled with flashlights. When he pulls it up, he discovers they have been destroyed. Calvin is upset and decides to go down into the hole. He gets a gun and puts on a gas mask and army suit. He lowers himself down and tells Nora to bring him up after 10 minutes. Nora brings him up but all that comes up is the suit, stuffed with gold and jewelry and coins.