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Metal detector buffs strike gold with £10m Iron Age ‘hedge fund’

TWO metal detector enthusiasts have struck gold and found a massive hoard of
ancient coins worth up to £10 MILLION – after searching for more than 30
years.

Determined Reg Mead and Richard Miles spent decades patiently scouring fields
in Jersey after hearing rumours that a farmer had discovered silver coins on
his land.

They uncovered between 30,000 and 50,000 Celtic silver and gold coins dating
from the 1st Century BC which have lain buried for more than 2,000 years.

The full size of their discovery – entombed in a large mound of clay under a
hedge – has yet to be revealed, but experts are hailing it as the biggest
single find of Iron Age coins in Europe ever.

Each of the coins is likely to be worth between £100 and £200 – but the
ownership of them has yet to be worked out.

The exact site of the discovery is being kept secret amid speculation it could
contain yet more coins.

The trove is believed to have originated from a tribe called the Coriosolitae
who lived on the northern coast of modern-day Brittany.

Metal detector Reg Mead (centre, back, blue polo shirt) watches as archaeologists unearth a Celtic coin hoard which he found with colleague Richard Miles. See SWNS story SWCOINS; Two metal detector enthusiasts have uncovered Europe's largest hoards of Iron Age coins worth up to £10 million - after searching for more than 30 YEARS. Determined Reg Mead and Richard Miles spent decades searching a field in Jersey after hearing rumours that a farmer had discovered silver coins while working on his land. They eventually struc

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Dr Philip de Jersey, a former Celtic coin expert at Oxford University, said:
“This is extremely exciting and very significant.

“It will add a huge amount of new information, not just about the coins
themselves but the people who were using them.

“Most archaeologists with an interest in coins spend their lives in libraries
 writing about coins and looking at pictures of coins.

“For me as an archaeologist, with an interest in coins, to actually go out and
excavate one in a field, most of us never get that opportunity. It is a once
in a lifetime opportunity.”

Reg and Richard first stumbled across a find of 60 silver coins and a single
gold one in February.

They carried on searching in the hope of finding more – and hit the jackpot
earlier this month with a deep scanner metal detector.

Archaeologists on Jersey unearth a Celtic coin hoard thought to be worth £10 million. See SWNS story SWCOINS; Two metal detector enthusiasts have uncovered Europe's largest hoards of Iron Age coins worth up to £10 million - after searching for more than 30 YEARS. Determined Reg Mead and Richard Miles spent decades searching a field in Jersey after hearing rumours that a farmer had discovered silver coins while working on his land. They eventually struck gold and uncovered between 30,000 and 50,000 coins, which date from the 1st Century BC and have lain buried for 2,000 years. The Roman and Celtic silver and gold coins were entombed under a hedge
At the time Reg said: “Richard my colleague found the first one and it was
amazing – when you see him raising his hand above his head saying ‘got one’.

“After that every one gave you the same buzz – after 61 coins and many, many
pieces of rubbish in amongst them.

“We are talking about searching for 40 to 50 hours to get these coins out and
every one gives you a buzz.”

Reg and Richard called in local historians to help them excavate the site and
they slowly unearthed thousands more coins, most of them covered in clay.

It took a whole day digging to reach the surface of the hoard and another four
days to recover the coins.

Jersey’s Environment Minister, Deputy Rob Duhamel, said he would do everything
he could to protect the historic site.

He said: “There is speculation there might even be more.

“It is a very exciting piece of news and perhaps harks back to our cultural
heritage in terms of finance, we are a finance centre.

“It was found under a hedge so perhaps this is an early example of hedge fund
trading.”

He said the owners of the site had indicated that they would like to see the
whole hoard kept on display on the island.

JERSEY, UNITED KINGDOM, JUNE 26, 2012: Two metal detector enthusiasts have uncovered Europe's largest hoards of Iron Age coins worth up to GBP10 million - after searching for more than 30 YEARS (PICTURED). Refer to SWNS story SWCOINS. Determined Reg Mead and Richard Miles spent decades searching a field in Jersey after hearing rumours that a farmer had discovered silver coins while working on his land. They eventually struck gold and uncovered between 30,000 and 50,000 coins, which date from the 1st Century BC and have lain buried for 2,000 years. The Roman and Celtic silver and gold coins were entombed under a hedge in a large mound of clay, weighing three quarters of a ton and measuring 140 x 80 x 20cm. Experts predict they are of Armorican (corr) origin - mode

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