By placing Apollo 17 regolith samples in a freezer, and storing an equivalent set at room temperature, NASA effectively performed a 50‐year experiment in the kinetics of natural thermoluminescence (TL) of the lunar regolith. We have performed a detailed analysis of the TL characteristics of four regolith samples: a sunlit sample near the landing site (70180), a sample 3 m deep near the landing site (70001), a sample partially shaded by a boulder (72320), and a sample completely shaded by a boulder (76240). We find evidence for a total of eight discrete TL peaks, five apparent in curves for samples in the natural state and seven in samples irradiated in the laboratory at room temperature. For each peak, we suggest values for peak temperatures and the kinetic parameters E (activation energy, i.e. "trap depth," eV) and s (Arrhenius factor, s−1). The lowest natural TL peak in the continuously shaded sample 76240 dropped in intensity by 60 ± 10% (1976 vs. present room temperature samples) and 43 ± 8% (freezer vs. room temperature samples) over the 50‐year storage period, while sunlit and partially shaded samples (70001, 70180, 72321, 72320) showed no change. These results are consistent with the E and s parameters we determined. The large number of peaks, and the appearance of additional peaks after irradiation at room temperature, and literature data, suggest that glow curve peaks are present in lunar regolith at ∼100 K and their intensity can be used to determine temperature and storage time. Thus, a TL instrument on the Moon could be used to prospect for micro‐cold traps capable of the storage of water and other volatiles. Plain Language Summary: Rocky soils, such as the regolith from the Apollo 17 landing site, glow when heated in the dark. This glow, known as thermoluminescence (TL), is caused by previous exposure to radiation, but it can fade depending on ambient temperatures. We therefore have a method for studying the radiation and thermal history of these rocks, but we need to learn the precise details of this process. Nearly 50 years ago, NASA placed some Apollo 17 regolith (a) in a metal cabinet at room temperature and (b) in a freezer. We found that freezer samples did not lose any TL, but the cabinet samples showed considerable fading relative to the freezer samples and relative to samples measured nearly 50 years ago. Combined with a detailed computer analysis of the data, these results enable us to understand the relationships between TL, time, and environmental conditions. Most importantly, this method will enable us to search for tiny locations in the polar regions of the Moon, called cold traps, where water and other volatiles may have accumulated. This information is important for understanding the history of the Moon, and it will support exploration efforts which need water and volatiles. Key Points: The thermoluminescence (TL) of Apollo 17 regolith samples has been studied. The kinetic parameters of 8 peaks present were determinedEquilibrium temperatures have been determined for four location types (2 massif, 2 valley), which agree well with independent thermometersThese results suggest that a TL instrument (hand held or robotic) could be used to locate micro‐cold traps (and volatiles) on the Moon [ABSTRACT FROM AUTHOR]