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David Pickup submitted this explanation of the Portable Antiquities Scheme and the 1996 Treasure Act governing coin finds in England, Wales and Northern Ireland. Written in response
to our earlier story about the single pierced coin declared NOT to be treasure, this also explains why the "piano hoard" discussed in the next article WAS covered by the law. Thanks!
-Editor
 Under the Treasure Act 1996 in England, Wales and Northern Ireland, all finders of gold and silver objects, and groups of coins, over 300 years old, have a legal obligation to report such
items. The local coroner will hold an inquest to determine if the object is treasure.
Single finds of coins are usually exempt. Presumably in this case the British Museum argued that the denarius was not a coin because it had a hole in it and was jewellery and did not come under the exemption. Section 3 (2) defines the term ‘coin’ as including any metal token that was, or can reasonably be assumed to have been, used or intended for use as or instead of money. The finder argued the piercing could have been done at any time and therefore was it still a single coin and he could keep it. There is a helpful guide on pierced coins on the PAS site.
The Portable Antiquities Scheme is a project to encourage the voluntary recording of all archaeological objects found by members of the public in England and Wales. It does not only cover items which must be reported, but also any item of archaeological value. The Treasure Act covers all “finds” so you go metal detecting all day and find nothing and then if you go home and find some gold sovereigns in your antique sofa you recently bought, you would have to report them. To read the earlier E-Sylum article, see:
 Wayne Homren, Editor The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org. To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com To subscribe go to: https://my.binhost.com/lists/listinfo/esylum All Rights Reserved. NBS Home Page Contact the NBS webmaster 
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