Historic Gold Treasure Found in Lakkundi: Ritti Family to Get One-Fifth Reward By Government

A historic gold treasure has been discovered in Lakkundi, Gadag district, sparking statewide curiosity. The Ritti family, who found the coins, handed them over to the government and is set to receive one-fifth of the total value.

A remarkable discovery in Lakkundi village, Gadag district, has captured attention across Karnataka. A treasure trove of gold coins, believed to be centuries old, was recently unearthed, prompting officials and historians to take notice. The State Archaeology Department, led by Director Shejeshwara, conducted an inspection of the site, highlighting the historical significance and legal aspects of such discoveries.

What Counts as Treasure According to Law

Many people assume that only gold qualifies as treasure. However, Shejeshwara clarified that, under the law, any item—gold, silver, diamonds, gems, corals, or coins—valued at more than ₹10 and over 100 years old is considered treasure. Items meeting these criteria automatically become government property. Conversely, objects less than a century old belong to the landowner, and there is no legal obligation to hand them over to the government.

The gold coins discovered in Lakkundi are being described as one of the largest treasure finds in recent years. Officials are now assessing the exact value of the hoard.

Finder Receives One-Fifth Share

The treasure was handed over to the District Collector’s office by the Ritti family, who discovered the coins despite facing financial hardships. According to the 1962 Treasure Trove Act, those who honestly surrender treasure to the government are entitled to 20% of its assessed value as a reward. The Ritti family is expected to receive significant financial assistance, providing a boost to their livelihood.

Future Excavations Likely in Lakkundi

The discovery raises the possibility of more historical artifacts in the region. Shejeshwara indicated that discussions with the Tourism Minister are planned to explore scientific excavations in Lakkundi. Experts believe the village, which has a rich heritage dating back centuries, could yield further archaeological insights.

Political Support for the Finders

Nargund MLA CC Patil visited the site to acknowledge the Ritti family’s honesty and courage. He felicitated them with a shawl and promised government assistance, including providing land for housing, recognizing that the family currently lacks a permanent home. Patil described the act as unprecedented and praised the family for prioritizing public interest over personal gain.

The Lakkundi treasure has not only rekindled interest in Karnataka’s historical wealth but also highlighted the importance of public cooperation in preserving cultural heritage. With legal provisions ensuring rewards for honest finders, such discoveries encourage transparency and awareness among citizens.