Silver Hoard of 20,000 Medieval Coins Found

A Swedish man digging for worms at his countryside summer house was astonished to find a 13-pound cache of treasure instead of bait. Inside a corroded copper cauldron, archaeologists later found thousands of Early Middle Ages silver coins mingled with beads, pendants and rings. The find is being called extraordinary: Sofia Andersson of the Stockholm County Administrative Board says it is “probably one of the largest silver treasures from the early Middle Ages” ever found in Sweden. A preliminary count suggests upwards of 20,000 coins, most dating to the late 1100s. The unnamed finder did the right thing by reporting the hoard to officials, and archaeologists are now cataloguing the coins and jewellery.

The hoard may include up to 20,000 coins, as well as beads and rings from the Middle Ages of Sweden. (Image credit: Stockholm County Administrative Board)

The Medieval Hoard and Its Significance

Archaeologists say the coins were placed in a copper cauldron, now largely gone to corrosion. Thankfully, the silver survived underground, though some coins have developed a green patina from oxidation. The hoard’s mix of coins and personal jewellery suggests it was a wealth stash: “someone’s wealth that has been hidden away,” in Lin Annerbäck’s words. Annerbäck, director of Stockholm’s Medieval Museum, notes this is “completely unique” for the region – no other medieval hoard of this scale has been found near Stockholm. Sofia Andersson adds that the museum’s team estimates the hoard could contain up to twenty thousand coins.

Most coins seem to be late 12th-century issues. Many are stamped KANUTUS (Latinised “Knut”), indicating they were minted under King Knut Eriksson. Knut Eriksson (also known as Canute I) ruled Sweden roughly from 1173 to 1196. According to historical sources, he gained the throne by force in 1167 (killing his rival) and then worked to stabilise the kingdom. He reorganised Sweden’s currency and church and even established a fortress at the future site of Stockholm. (Stockholm itself, of course, would only be founded decades later in 1252 by the statesman Birger Jarl.)

Other coins in the hoard are Bishop’s coins – rare issues struck by powerful medieval bishops. These depict a bishop holding a crozier (the hooked staff symbol of his office). Their presence, along with pendants and beads, suggests the hoard belonged to a wealthy person or family with both secular and church ties. Likely, these valuables were deliberately buried for safekeeping during a perilous era.

Historical Context: 12th-Century Sweden and Beyond

The late 1100s were indeed turbulent times for Sweden. After Knut Eriksson died in 1196, Sweden entered a period of civil strife as noble families vied for power. Many ordinary people may have hidden their savings for protection. At the same time, Sweden’s kings and church were pushing eastward. From the mid-12th century onwards, Swedish forces (often on crusade) began colonising and Christianising coastal Finland. In the Northern Crusades era, Sweden encouraged its peasants and knights to settle in Finnish archipelagos and southern regions to spread Christianity and control trade. This expansion created conflicts and uncertainty at home and abroad.

Remarkably, when this hoard was buried around the late 1100s, Stockholm did not exist as a city. The land where Stockholm now stands was a swampy river archipelago. The medieval fortress that Knut built would evolve into Stockholm only decades later. By 1252, Birger Jarl officially founded Stockholm (at the head of Lake Mälaren), and by the late 13th century, it was Sweden’s largest city. Thus, the hoard was hidden long before Stockholm’s markets, docks and royal palaces arose.

In sum, this trove offers a snapshot of 12th-century Sweden: the money in circulation (coins of Knut Eriksson and bishops), the role of church authorities (bishop coins), and a society bracing for conflict (efforts in Finland). As Lin Annerbäck notes, finding such a “unique” cache near Stockholm deepens our understanding of the region’s medieval past.

After the Dig

Officials from the Stockholm County Administrative Board will report the find to Sweden’s National Heritage Board, which by law will decide compensation for the finder. (Under Sweden’s Cultural Environment Act, significant ancient finds can be offered to the state for a reward.) Meanwhile, archaeologists continue to document every coin and artefact. Each piece is a clue to the era when Sweden’s future capital was born and the kingdom looked east to Finland. This humble worm-digging incident has thus opened a window onto a forgotten chapter of Nordic history – one sealed in silver for nearly a millennium.