Hikers Find Treasure Worth Rs 2.87 Crore, Possibly Buried By Nazis

Two people hiking in Czech Republic hit jackpot when they found a treasure trove worth over Rs 2.87 crore ($340,000) while walking on the outer fringes of a forest in the country's northeastern Podkrkonosí Mountains, according to a report in New York Post. The Museum of East Bohemia, which took possession of the items said that the hikers had found 598 gold coins, jewellry and tobacco bags, cumulatively weighing around 15 pounds.

The coins appear to have been "hidden in the ground for over a hundred years" and are dated from 1808 to the early 19th century. The coins are believed to have been likely buried after 1921 and include currency from France, Belgium, the Ottoman Empire and former Austria-Hungary.

"When he [one of the hikers] opened it, my jaw dropped," said Miroslav Novak, head of archaeology at the museum.

Calling the collection a "very specific set", the local media reported that small marks on the currency indicate that they were minted for use in former Yugoslavia, which existed from 1918 to 1992.

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Treasure trove's history

Though the discovery was made in February, it was only last week that the museum officials made the information public.

"We will need to analyse the rest, but at the current price of precious metals, the value of the find can start at 7.5 million [Czech] Crowns ($340,000)," said Mr Novak.

Experts are now trying to determine how the treasure ended buried up on the side of the mountain.

"To store valuable objects in the ground in the form of treasures, so-called depots have been a common practice since prehistoric times. At first, religious movements were more common; later it was property stored in uncertain times with the intention of returning later for it."

One of the prevailing theories is that the treasure could have been hidden by Nazis retreating from advancing Russian forces when they were ousted at the end of World War II.

“It is difficult to say whether this is the gold of a Czech who had to leave the occupied territory after the Nazi invasion of 1938 [or] the gold of a German who feared displacement after 1945,” said museum director Petr Grulich. “It could also be stolen goods from an antique shop, but we are not inclined to this option.”

While the investigation continues, the lucky hikers will get around 10 per cent of the discovery's total value, following Czech law.