Treasure Act 1996

The Treasure Act 1996 is an Act of Parliament designed to deal with finds of treasure in England, Wales and Northern Ireland. It legally obliges finders of objects which constitute a legally defined term of treasure to report their find to their local coroner within fourteen days. An inquest led by the coroner then determines whether the find constitutes treasure or not. If it is declared to be treasure then the owner must offer the item for sale to a museum at a price set by an independent board of antiquities experts (Treasure Valuation Committee). Only if a museum expresses no interest in the item, or is unable to purchase it, can the owner retain it.