Treasure hunter finds huge Roman coin hoard in Britain

Treasure hunter finds huge Roman coin hoard in Britain
by Amanda Fox

When David Crisp saw an odd response on his metal detector the 63 year old Brit had no idea he was going to find anything much different that the usual items he unearths in his pursuits as an amateur treasure hunter. He did know he found something larger than he usually stumbles across, but he never expected to find a hoard of 52,500 Roman coins bearing the image of Marcus Aurelius Carausius dating back to the third century. All told, the haul weighed some 350 pounds and carries an estimated value of $5 million dollars (3.3 million pounds) at first estimate.

Crisp was very smart about his treasure hunting to the delight of archaeologists around the world as he did what few people could do in such an exciting and clearly profitable position - he stopped digging once he realized what he had found. After investigating the source of the signal his metal detector picked up, Crisp dug into the soil about a foot or so deep where he discovered a clay pot. He fished around inside of it to find a small coin about the size of his fingernail. He then went back in for a second look and found about another twenty coins. That was when he knew he had found something big and something potentially very important.

Archaeologists from Somerset County Council were then notified and quickly came to the scene to complete the investigation. To their amazement they began pulling out one clay pot after another each filled with coins. The coins were supposedly collected as a part of a religious tithe during the twenty years Carausius was the British Emperor as appointed by the coalition of the Emperors Maximian and Diocletian.

The question on most people's minds - particularly Crisp - is what is going to happen with the coins now. A formal inquest will be held to determine whether or not the discovery is subject to the Treasure Act. In all likelihood that will be the determination and will subsequently formalize a price that must be paid for any institution that wishes to acquire the Crisp discovery which has now been classified as one of the largest in British history of its kind. While the tiny bronze coins may not inspire excitement among some as gold is always what grabs the most attention, this is still as historically significant a discovery as any Britain has seen in quite awhile.

Under the provisions of the Treasure Act, a treasure is the discovery of any object over 300 years old which is not a coin but has metallic content which is at least 10% precious metal by weight. In specific reference to coins, at least two must be discovered together to qualify as a treasure. Of course the interpretation cannot be left as simple as that as subsection after subsection provides alternate definitions for what defines a treasure, and it is all subject to change at the discretion of the Secretary of State without explanation. In regards to ownership which equals compensation, it goes to prior interests first, the franchisee if there is one next, or in most cases it falls under the domain of the Crown. In this case it is believed the Crown will almost assuredly claim ownership of the Somerset haul.

Regarding rewards for such a discovery, the Secretary of State must first determine if a reward will be paid at all. In most cases, that is the determination if for no other reason than to avoid a lashing in the press. While the Secretary of State is encouraged to get a market value for the treasure from a reputable source like the Museum of England or entity that would be considered an authority on whatever has been discovered that is not a requirement. The Secretary of State then determines a percentage of that estimated sum to be doled out as a reward payment which cannot exceed the total market value along with following guidelines for shared payments of the treasure haul that consider any potential claimant like the land owner the treasure was discovered on, museums, potential heirs to original owners, foreign governments, etc...

What is expected is that Crisp will realize a reward payment of somewhere in the neighborhood of a half million dollars (330,000 pounds) - before taxes of course. Taxes can be waived, however that is an extreme rarity. If the coins were to be offered by a major auction house on the open market it has been estimated that the total sum realized could be double the current estimated value although it is almost certain that none will see the auction block for quite some time if ever.