The Treasure Act replaced the English common law of treasure trove in 1997. All finders of gold and silver objects, and groups of coins from the same finds, over 300 years old have a legal obligation to report such items under the Act. If a coroner agrees, an independent panel of experts will value the treasure and the money will be split between the finder and the landowner.

Treasure trove is a large amount of gold, silver, gemstones, money, jewellery, or any valuable collection found hidden under ground or in cellar or attics, etc., where the treasure seems old enough to presume that the true owner is dead and her heirs undiscoverable.