Gold Sovereigns – ‘Treasure’ Trove Found In UK – Don’t Be The Piano Owner

Gold Sovereigns – ‘Life Changing’ ‘Treasure’ Trove Found In UK

The gold sovereigns – semi-numismatic gold coins made up of both gold sovereigns and half gold sovereigns dating from the reigns of Victoria, Edward VII and George V – were discovered inside an old piano after it was donated to a school last year.

A gold sovereign from that period is currently valued at between £200-250, with a half sovereign worth between £100-200. A pouch contains just a sampling of the 913 coins composing the hoard. Image © Trustees of the British Museum via Coin World

The largest ‘hoard’ of gold sovereigns found in the UK ever has been declared ‘treasure’.

A piano tuner who discovered £500,000 (€590,000 or $640,000) worth of semi numismatic gold coins, gold sovereigns (0.2354 troy ounce) and half gold sovereigns (0.1167 troy ounces) inside the piano will get to keep half the cash – but the couple who owned the piano for 33 years won’t get a penny.

The piano’s new owners, Bishop’s Castle Community College, Shropshire which is near Birmingham, will split the £500,000 with the piano tuner Martin Backhouse.

The gold sovereigns are expected to be claimed by the British Museum, but the cash will be split between the school and Mr Backhouse, a inquest has ruled.

Meg and Graham Hemmings, who owned the piano for 33 years before donating it when they downsized, won’t get any of the money.

John Ellery, Shropshire’s Coroner, used an inquest to seek the original owners of the gold sovereigns, but despite more than 40 people claiming the gold sovereigns, none could prove they belonged to them.

The coroner said the gold sovereign hoard qualifies as ‘treasure’ because:

(1) It is substantially made of gold or silver
(2) It was deliberately concealed by the owner with a view to later recovery
(3) The owner, or his or her present heirs or successors, remain unknown

The story clearly shows the value of gold coins and the financial benefit and financial security they can bring to their owners – providing they are owned in the safest way possible.