The antiquities trade has a problem. At its inception in the 16th and 17th centuries, only the very wealthiest members of society could afford to collect and enjoy ancient artifacts. However, as the modern age dawned and discretionary income increased, the antiquities trade became ever more democratized. Now medieval and ancient artifacts are avidly acquired by people ranging from the thoroughly middle class to the obscenely rich, with more new collectors coming on board every day.
This trend has caused a supply and demand imbalance. Demand for these historical and beautiful objects from the distant past has risen inexorably. Unfortunately, the new supply of medieval and ancient artifacts coming to market has not kept pace. This combination of robust demand and insufficient quantity produces rising prices.
The limited supply of high quality medieval and ancient artifacts has also been exacerbated by politics in the archeological community. Some archeologists would selfishly prefer to enforce a complete monopoly on the excavation and ownership of antiquities. In its most virulent form, this abuse of international antiquities law encourages the worst ultra-nationalist impulses of certain nations.
As daunting as the situation is for the antiquities trade, there is a white knight on the horizon - metal detecting. Metal detecting enthusiasts are single-handedly responsible for discovering the vast majority of fresh antiquities that make it to market today. They routinely discover items that traditional archeologists could never hope to locate - mostly isolated finds not associated with pre-existing ancient or medieval sites.
The archeological profession, on the other hand, unearths relatively few medieval and ancient artifacts. And those few objects that archeologists do uncover usually end up archived in the basement of a museum, never to be seen by the public. These museum hoards are only rarely put up for sale, even though the vast majority of them are common artifacts.
Ancient Metal Detecting Finds
It is difficult to overstate the impact that metal detecting has had on the availability of antiquities in the private market. Every year, large numbers of ancient and medieval coin hoards are discovered in the fields, pastures and forests of Europe. Vast quantities of pre-17th century buttons, jewelry, coins and votive offerings, as well as military paraphernalia like muskets balls, sword fragments and arrowheads, are discovered on a regular basis. These everyday ancient and medieval items form the backbone of the modern antiquities trade.
Among the European countries, Great Britain is one of the most fruitful locations for metal detecting. The island nation's important standing in the field is enhanced by the fact that its history stretches more than two millennia into the past. Metal detecting fans in the United Kingdom regularly find Celtic, Roman, Anglo-Saxon and medieval artifacts in substantial numbers.
Interestingly, British metal detecting enthusiasts make late Roman finds more frequently than Anglo-Saxon ones. This undoubtedly reflects the relative material abundance of the Roman Empire in contrast to the Spartan existence of the early medieval period. In any case, many of these metal detecting finds eventually make their way into the antiquities trade, improving the precarious supply situation.
Medieval Metal Detecting Finds
Of course, metal detecting has its limitations. As the name implies, a metal detector can only find objects made of metal. Items made of bone, wood, horn, stone or any other non-metallic substance will go undiscovered unless metal items are associated with them. In addition, the more corroded a metal item is, the harder it will be for a metal detector to locate. Finally, metal detectors can only find items that are relatively close to the surface. Any metal object buried more than 2 feet deep will go undiscovered, regardless of how massive it might be.
One of the reasons metal detecting has boomed in Great Britain is because of its well-crafted 1996 Treasure Act legislation. This law defines treasure as:
- Two or more coins found together that contain at least 10% precious metal and are over 300 years old
- Ten coins or more found together that contain less than 10% precious metal and are over 300 years old
- Two or more prehistoric items found together, regardless of material
- Any non-coin object more than 300 years old that is at least 10% precious metal
- Anything less than 300 years old that is made substantially of gold or silver that has been intentionally hidden and whose owner is unknown
- Any object, regardless of material, that is found with another item considered treasure, as defined above
Treasure found in Great Britain must be declared to the county coroner within 14 days. A coroner's inquest then determines whether the items are treasure according to the law. If so, British museums get the right of first refusal - the ability to purchase some or all of the items at full market value before anyone else. This means that truly rare or exceptional medieval or ancient artifacts are not irresponsibly sold into the private market, but instead retained by museums as national heritage.
Any proceeds are usually split 50-50 between the finder (often a metal detecting enthusiast) and the landowner. If no museum wishes to purchase the items, then the items can be kept or sold by the finder and landowner at their discretion. This progressive scheme has incentivized responsible metal detecting in Great Britain, providing antiquities collectors with a steady supply of ethically sourced material.
Metal detecting hobbyists in Great Britain have made some truly amazing finds. In 2014, a hoard of over 5,000 Anglo-Saxon silver pennies from the late 10th century was found in a field near Lenborough in Buckinghamshire. It was one of the largest coin hoards ever found in Great Britain and was conservatively valued at a staggering $1.8 million dollars.
Ancient & Medieval Metal Detecting Lots
In 2016, an impressive Celtic gold hoard was unearthed by a pair of metal detecting enthusiasts in Staffordshire, England. This collection of four Celtic gold torcs, three necklaces and one bracelet dates to between 400 and 250 BC and could be the earliest extant Iron Age gold work ever found in Great Britain. The exceptional trove is tentatively valued at several hundred thousand dollars.
Of course, most items found by metal detecting hobbyists are far more modest. Bronze, lead and iron artifacts dominate, with silver objects only occasional discovered. Gold is very rarely found.
In addition, almost all items are found in isolation, as single pieces that were accidentally lost. Even when hoards are discovered, they usually only consist of 10 to 20 pieces. A hoard of hundreds of items is considered incredibly exceptional. However, despite its many hardships, the lure of buried treasure keeps people coming back to metal detecting. And that is a great thing for the antiquities trade.
