Can You Keep Treasure If You Find It?

The answer to whether you can keep treasure if you find it depends on several factors, including the type of treasure, where it was found, and the laws of the state or country in which it was discovered, with some states like Arkansas, Connecticut, and Delaware following the “finders keepers” concept. Generally, if the treasure is found on private property, the finder may be entitled to keep it, but if it’s found on public land or state property, the government may have claims to it, and in some cases, the finder may be entitled to a reward or a portion of the value of the treasure.

Understanding Treasure Laws

Types of Treasure

To determine whether you can keep treasure, it’s essential to understand the different types of treasure and how they are categorized, including lost property, abandoned property, and treasure trove, each with its own set of rules and regulations.

Frequently Asked Questions

1. What is the law if you find treasure? The law regarding found treasure varies by state, but generally, if the treasure is found on someone else’s property, the finder does not automatically own it, but may be entitled to a portion of the value of the treasure if its ownership cannot be determined.
2. Can the government take treasure you find? In the U.S., laws vary by state, but the general conclusion is that going treasure hunting is often a waste of time because you likely can’t keep it, as the Archaeological Resources Protection Act of 1979 states that any archaeological resources found on state land belong to the government.
3. What happens if you find stolen treasure? If you find stolen treasure, you should contact your local police department to learn about any laws covering lost property and consider leaving information about your find with nearby store owners or taking out a newspaper or Craigslist ad.
4. Do you pay taxes on found treasure? Found treasures, regardless of their form, are generally considered taxable income, and the value of the treasure at the time of discovery becomes the basis for determining the tax liability.
5. What happens if you find gold in your backyard? If you find gold on your property, you may not have the right to mine or sell it, as you may need to examine your property deed or title to determine who owns the mineral rights.
6. What happens if you find money hidden in your house? In California, the law provides guidance and consequences for cases of found money, and a person who finds lost property and fails to attempt to return it to its rightful owner may face theft charges.
7. Are you allowed to keep gold you find? Many states have rules about found objects with values above certain amounts, and if you’re required to turn in your newly discovered gold bars to local authorities, efforts are usually made to identify an owner.
8. How far down is buried treasure usually? Buried treasures typically spawn about 40 blocks below the ground level, but the actual depth of their placement may vary depending on the terrain of the game.
9. What are the biggest treasures ever found? Some of the world’s most valuable buried treasures include the Sroda treasure crown, Staffordshire Hoard, Hoxne Hoard, and Panagyurishte treasure.
10. What to do if you find $100 on the ground? If the owner is unknown and has not claimed property worth $100 or more, the finder must, in a reasonable time, turn it over to local police and complete an affidavit.
11. Where should you not hide money? You should avoid hiding valuables in areas that can damage them with water or invasive matter, such as the water tank of a toilet, jewelry box, or desk drawer.
12. What to do if you find $1 million dollars? If you find $1 million, you can consider buying a luxury item, investing it, donating to charity, or starting a business.
13. Is it illegal to store gold at home? It’s perfectly legal to store gold at home or in a safe-deposit box as long as the precious metals are not part of a self-directed IRA.
14. Does Black Sand mean gold? Black sands can be an indicator of gold, but not always, and if you’re finding gold and getting black sands with it, it would be worthwhile to try some and see what happens.
15. Is it illegal to take treasure from the ocean? That depends on where it was found, and who owned the ship in the first place, as the Abandoned Shipwreck Act gives U.S. states ownership title of all shipwrecks found within U.S. territorial waters.