The day buried treasure was found in Cheapside

The true story of the Cheapside Hoard is the stuff of fairy tales. But there are reasons why this unique collection of 16th- and 17th-century jewellery has never before been displayed in its entirety.

The Cheapside Hoard: London’s Lost Jewels
Museum of London, EC2

It’s the stuff of fairy tales. Pickaxes fall on the cellar floor of an old house. A workman freezes as he sees something glinting in the dirt. Then pandemonium as he and his fellows scrabble among the broken-up bricks and clay, heaving out clumps of gold, emeralds and pearls. There is more and more: long chains, earrings, bags of loose gems. They cannot believe their luck. They’ve found buried treasure.

But this was real life – Cheapside, London, 1912. And so, before living happily ever after, the navvies, who had been employed to demolish a set of shops, had to find someone prepared to buy goods of dubious provenance. It wasn’t as if they were going to go to the buildings’ owners and sacrifice the prospect of making a bit of decent money for themselves. They knew exactly the man to call on: Stony Jack, the pawnbroker and antiquary. He toured the pubs around the City and paid for bits of pottery, glass or coins that turned up during excavations, which he would sell on to collectors and institutions. Working with the newly established London Museum to save the Cheapside Hoard for the nation was to be his crowning achievement.

But the shady nature of the deals Stony Jack made is one reason why this unique collection of 16th- and 17th-century jewellery has never before been displayed in its entirety. The British Museum, used to getting first dibs on “treasure trove”, had to be placated with several bits of jewellery. Another piece ended up at the V&A.

Now, at last, everything is in one place. The curator Hazel Forsyth has assembled a dazzling exhibition that carefully grounds the hoard in its social and economic context. The displays guide visitors along the journey these jewels once took, by ship to the metropolis, into strongboxes, and finally to a workshop on Cheapside. For that is what the treasure represents – the stock-in-trade of a working goldsmith. As well as many finished pieces, it comprises gems waiting to be set and rough stones waiting to be sorted. The academics’ best guess is that it was buried for safekeeping during the upheaval of the civil war, and never reclaimed.

With the introduction over, we turn a corner into the main room. There is almost too much to take in: rings, necklaces and pendants are suspended everywhere. It is easy to miss some of the smaller objects – a tiny emerald parrot, representing erotic love (parrots were believed to be promiscuous), a red squirrel carved from cornelian, an exquisite strawberry leaf in bloodstone. All are heavy with symbolism. The strawberry leaf has three points for the Holy Trinity. A sinuous, enamelled, emerald-set salamander reminds the wearer of resurrection, as this animal is believed to be able to walk through fire. Most of the jewellery has a rough-hewn quality. The gems glow, rather than sparkle, the gold settings are chunky and irregular. This is no Bond Street jet-set sparkle, no oligarch’s bling.

Yet to look at the early-modern London of the Cheapside Hoard is to observe an elite just as decadent and wasteful as our own. It is only age that makes it seem nobler. In fact, the continuity is startling: One New Change, a luxury shopping mall complete with designer jewellers, stands today where the collection was dug up. And around it loom the financial institutions that have their origin in the “goldsmith bankers” of the 16th and 17th centuries; they were the first merchants in England to change and lend money, and to offer a secure place to store valuables.

So London runs on riches now as it did then. But the hoard teaches another lesson. Wealth is transient. It can disappear. Much of the collection may have belonged to the Stafford family, forced into exile in 1641 and stripped of its assets. Then the treasure fell out of the hands of a goldsmith and into the hands of navvies. It has come to rest in a public museum, where it sits in all its priceless glory, to all intents and purposes worth nothing.

The Cheapside Hoard is on display until 27 April 2014. Details: David Shariatmadari is a deputy comment editor at the Guardian

Unique hexagonal watch and "Medusa" emerald. Image courtesy of the Museum of London

This article first appeared in the 17 October 2013 issue of the New Statesman, The Austerity Pope

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Commons confidential: Alastair Campbell's crafty confab

Campbell chats, Labour spats, and the moderate voice in Momentum.

Tony Blair’s hitman Alastair Campbell doesn’t have a good word to say about Jeremy Corbyn, so perhaps that helps to explain his summit with Theresa May’s joint chief of staff Fiona Hill. The former Labour spinner and the powerful consigliera in the current Tory Downing Street regime appeared to get along famously during an hour-long conversation at the Royal Horseguards Hotel, just off Whitehall.

So intense was the encounter – which took place on a Wednesday morning, before Prime Minister’s Questions – that the political pair didn’t allow a bomb scare outside to intrude, moving deeper into the hotel lounge instead to continue the confab. We may only speculate on the precise details of the consultation. And yet, as a snout observed, it isn’t rocket science to appreciate that Hill would value tips from Campbell, while a New Labour zealot plying his trade to high-paying clients through the lobbyists Portland could perhaps benefit by privately mentioning his access to power. My enemy’s enemy is my friend.

Is Ted Heath the next VIP blank to be drawn by police investigations into historic child sex abuse? The Wiltshire plod announced a year ago, with great fanfare outside the deceased PM’s home in Salisbury, that it would pursue allegations against Sailor Ted. Extra officers were assigned and his archive, held at the Bodleian Library in Oxford, was examined. I hear that the Tory peer David Hunt, the ermined chair of the Sir Edward Heath Charitable Foundation, recently met the cops. The word is that the Heath inquiry has uncovered nothing damaging and is now going through the motions.

The whisper in Labour circles is that the Momentum chair, Jon Lansman, is emerging as an unlikely voice cautioning against permanent revolution in the party and opposing a formal challenge from within Corbynista ranks to the deputy leader, Tom Watson. His strategy is two steps forward, one step back. Jezza’s vanguard is as disputatious as any other political movement.

The Tribune Group of MPs, relaunching on 2 November in parliament, will be a challenger on the Labour left to the Socialist Campaign Group, which ran Corbyn as its leadership candidate. Will Hutton is to speak at the Commons gathering. How times change. I recall Tony Blair courting “Stakeholder” Hutton before the 1997 election, but then ignoring him in high office. With luck, the Tribunites will be smarter and more honourable.

Politics imitates art when a Plaid Cymru insider calls the nationalists’ leader, Leanne Wood, “our Birgitte Nyborg”, a reference to the fictional prime minister in Borgen. Owain Glyndwr must be turning in his grave, wherever it is.

Kevin Maguire is the associate editor (politics) of the Daily Mirror

Kevin Maguire is Associate Editor (Politics) on the Daily Mirror and author of our Commons Confidential column on the high politics and low life in Westminster. An award-winning journalist, he is in frequent demand on television and radio and co-authored a book on great parliamentary scandals. He was formerly Chief Reporter on the Guardian and Labour Correspondent on the Daily Telegraph.

This article first appeared in the 20 October 2016 issue of the New Statesman, Brothers in blood