First recorded by M. R. Colhoun, this ancient marker has since proven elusive; subsequent searches have failed to relocate the stone, leaving its current whereabouts unknown. Whether it has been moved, buried, or destroyed remains a mystery, though its original documentation confirms it once stood as a tangible link to Ireland's prehistoric past.

Standing stones like the one at Ballycharry are found throughout Donegal and indeed across Ireland, dating primarily from the Bronze Age period between 2500 and 500 BCE. These monoliths served various purposes in ancient communities; some marked burial sites or territorial boundaries, whilst others may have held astronomical or ceremonial significance. The relatively small dimensions of the Ballycharry stone suggest it might have been a boundary marker or perhaps part of a larger stone alignment that has since disappeared.

The loss of such archaeological features is unfortunately common in rural Ireland, where centuries of agricultural activity, road building, and development have altered the landscape considerably. The stone's disappearance sometime after Colhoun's initial recording highlights the fragile nature of these prehistoric monuments and the importance of thorough archaeological surveys like the one conducted by Brian Lacey and his team in 1983. Their comprehensive documentation of Donegal's field antiquities, spanning from the Mesolithic period to the 17th century, ensures that even when physical monuments vanish, their memory and significance remain preserved in the historical record.