Exactly what rare coins and artefacts must be reported to avoid fines and penalties

Have you ever stumbled upon coins that seem far too ancient to belong in today's world? You might be required to file a report - and failing to do so could potentially result in an 'unlimited fine' or even jail time.

Under the Treasure Act 1996, people living in England and Walesmust notify a Finds Liaison Officer within 14 days of discovering possible 'treasure' or realising it could be treasure. Whilst 'treasure' might sound like something from a children's story, it actually covers certain specific archaeological finds, typically hundreds of years old.

Current government advice, overseen by the Department for Culture, Media and Sport (DCMS), explains: "You must report treasure to your local Finds Liaison Officerwithin either: 14 days of first finding it [or] 14 days of realising an item might be treasure, even if you’ve had it for longer.

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"You only need to report items officially defined as treasure. There’s an unlimited fine or up to three months in prison for not reporting treasure." At present, the Portable Antiquities Scheme has 66 Finds Liaison Officers, based throughout different areas of the country to deal with potential treasure finds.

It's crucial to recognise that not every coin or object deemed 'rare' needs reporting to the scheme. However, those fitting into the following categories may count as reportable treasure:

• Metallic objects, excluding coins, that contain at least 10% precious metal (gold or silver) by weight and are at least 300 years old upon discovery.
• Prehistoric metallic objects partly made of precious metal.
• Collections of two or more metallic objects of any composition from a prehistoric period that originate from the 'same find'. This means it has been found in the same place, or had previously been situated with another object. Finds may have become scattered since they were originally deposited in the ground.
• Two or more coins from the same find if they are at least 300 years old and contain 10% gold or silver. If the coins have less than 10% of these metals, there must be at least 10. These might come as part of a hoard or ritual deposits, for instance.
• Any object, regardless of its material, that is located in the same place as, or was previously with, a treasure object.

Other potential treasures can include objects that are at least partly made of metal and are at least 200 years old. This particularly applies if the object was discovered on or after July 30, 2023, and is of exceptional national, regional, cultural or archaeological significance. In summary, this could mean:

• It is a very rare example of its type found in the United Kingdom.
• The specific location, region, or area within the United Kingdom where it was discovered, or its association with a particular person or event.

Once such a discovery is reported, a local Finds Liaison Officer or museum curator will likely make contact for further discussion. A report will then be compiled and, if deemed potential treasure, a coroner's inquest will be held.

According tothe Express, government advice continues: "The Treasure Valuation Committee will ask an expert to value the find. They will recommend to the Secretary of State for the Department for Culture, Media and Sport (DCMS) how much the treasure is worth and how much should go to anyone eligible for a share of the reward.

"You’ll have the chance to comment on the valuation, along with the site occupier and landowner." Treasure finders, landowners or others who occupy the treasure site may receive a portion of the reward, if issued. However, anyone acting in 'bad faith', perhaps by concealing the treasure or finding it while trespassing, may get a reduced share or no reward at all.

The government adds: "If the find does not count as treasure or no museum wants it...the items will be returned to you, and the landowner and site occupier informed. They have the chance to object within 28 days. The coroner will keep the find until any disputes are resolved." More specific information on what counts as treasure can be found here.