Home Money & Business Business Treasure of ancient coins, dating back a thousand years, discovered in a farmer’s field fetches $5.6 million at auction.

Treasure of ancient coins, dating back a thousand years, discovered in a farmer’s field fetches $5.6 million at auction.

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Treasure of ancient coins, dating back a thousand years, discovered in a farmer’s field fetches $5.6 million at auction.

LONDON — Adam Staples realized he had stumbled upon something significant when his metal detector started emitting a series of enthusiastic beeps one after the other. Soon, the beeping escalated into a symphony of sounds, indicating that they had hit the jackpot.

As Staples and six companions searched through a farmer’s field in southwest England, they uncovered a remarkable trove of over 2,500 silver coins, buried in the earth for nearly a millennium. With an estimated worth of £4.3 million (approximately $5.6 million), this collection is set to make its way into a museum, offering valuable insights into the tumultuous period following the Norman conquest of England.

“I first came across a coin from William the Conqueror, valued anywhere between £1,000 and £1,500,” Staples shared during a recent announcement at the British Museum where the hoard will be showcased starting November. “It’s an incredible discovery — definitely something that would qualify as find-of-the-year. Initially, we thought there would be just five or ten coins.”

As it turned out, their discovery was far larger. This marked the most significant find in Staples’ three decades as an amateur metal detectorist. The treasure, unearthed in 2019 and now under the acquisition of the South West Heritage Trust, consists of 2,584 silver pennies minted between 1066 and 1068, showcasing both conquering King William I and his defeated Anglo-Saxon predecessor, Harold II.

Michael Lewis, who oversees the Portable Antiquities Scheme — a government-supported initiative aimed at documenting archaeological finds by the public — described the hoard as “one of the most spectacular discoveries” in recent memory. He emphasized that the full narrative surrounding the collection has yet to be entirely understood.

“This coin hoard will enhance our comprehension of 1066, the pivotal year when William, Duke of Normandy, claimed victory over King Harold at the Battle of Hastings, consequently replacing Saxon rulers with Normans,” Lewis explained. He noted that the typical narratives taught in schools are often based on myths, such as portraying the conflict purely as “English versus French” or “good” Saxons against the “bad” Normans.

In reality, many of the families involved were interconnected, offering a rich historical tapestry that this treasure can help to unravel. Interestingly, despite the invasion leading to considerable upheaval, the coins in the hoard reveal a striking similarity, regardless of whether they were minted before or after the conquest. One side features a profile of a monarch, while the reverse depicts a distinct emblem: an elaborate cross for William and the somewhat ironic term “pax,” meaning peace, for Harold.

Amal Khreisheh, curator of archaeology at the South West Heritage Trust, posited that the coins were probably buried for safekeeping during a period of local unrest against Norman rule. “It’s recorded that the people of Exeter rose up against William in 1068, and Harold’s sons, in exile in Ireland, began launching assaults along the River Avon toward Somerset. It’s likely these coins were hidden in response to that turmoil.”

Dubbed the Chew Valley Hoard after the rural area of its discovery, the treasure has been acquired for the nation through funding from the charitable arm of Britain’s national lottery. After its exhibition at the British Museum and other venues across the U.K., it will find a permanent residence at the Museum of Somerset in Taunton, located approximately 130 miles (210 kilometers) southwest of London.

The process for the hoard to enter Britain’s treasure handling system has taken several years. According to the Treasure Act, any discovery of historic gold, silver, or precious items must be reported to the local coroner. Should the coroner classify it as treasure, the hoard is then transferred to government ownership, allowing museums to compete for funds to secure it.

An expert committee assesses the value of each find, with the proceeds divided between the landowner and the discoverers. In this case, Staples and his fellow detectorists are set to share half of the £4.3 million. “It feels like winning the lottery,” Staples remarked with evident excitement, expressing his intention to continue his treasure-hunting pursuits. “I’m not stopping now; this is my passion.”