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A routine sewer installation job at a historic building in Dendermonde, Belgium turned into something far more extraordinary this week. Workers cracked open a cellar wall. Inside, they found a wooden chest stuffed with gold. The chest contained more than 40 gold bars, multiple ingots, and at least 4,000 gold coins. Experts valued the hoard at roughly 9 million euros, or approximately $10.4 million. Belgian public broadcaster VRT first reported the find. Since then, it has drawn international attention.
The building sits in Sint-Gillis-bij-Dendermonde, a district of the east Flemish city of Dendermonde. CAW Oost-Vlaanderen, a social welfare organization, currently owns the property. Historical records suggest the property previously served as the home of a local brewer around the turn of the 20th century. However, authorities have not established any connection between that former resident and the hidden gold.
Kobe, an 18-year-old student worker, was part of the crew drilling to lay new sewage pipes in the building’s cellar. Suddenly, his tools hit something unexpected behind the wall. The team broke through and found the chest. Kobe told VRT that their first reaction was complete disbelief. Nobody had expected to find anything, let alone gold. It took a moment for what they were looking at to register.
Kobe also admitted, with some candor, that the workers briefly discussed keeping the money. However, they concluded it was not a realistic option. He told reporters it was simply too much. Hiding a few thousand euros might be possible, but concealing 9 million euros from authorities was not something anyone could pull off. So, the crew called the police.
Dendermonde police arrived, documented the scene, and took all of the gold into custody. Officers photographed the bars and coins spread out on a table. They then shared the images on the department’s official Facebook page. Afterward, authorities transferred the entire cache to a high-security vault operated by the Belgian federal government. Meanwhile, investigators are working to determine where the gold came from and who, if anyone, has a legal claim to it.
The East Flanders prosecutor’s office has opened an investigation. Authorities say the gold’s origin remains unknown. They have not ruled out the possibility that it was hidden as part of fraudulent activity, though they have not confirmed that theory either. Eventually, the dates and inscriptions on the coins may help historians and investigators estimate when the hoard was assembled and when it was hidden.
The story spread quickly across Belgian social media. As a result, local police say it attracted a wave of curious visitors and would-be treasure hunters to the site. The department posted a tongue-in-cheek warning on Facebook. Officials told people that the site had been completely cleared of valuables. Anyone showing up hoping to find something would be wasting their time. Additionally, the building remains an active demolition and construction zone with open excavation pits and heavy machinery. Police said it was also genuinely dangerous to enter.
That question has no clear answer yet. Belgian law on found treasure is complex. It depends on factors including where the gold was found, who owns the land, and whether any living heirs to a previous owner can be identified. Kobe told reporters he hopes he and his colleagues will receive a finder’s fee. Meanwhile, the building’s owner, CAW Oost-Vlaanderen, released a statement. The organization said for all they know, the gold could be connected to some form of historical fraud or illegal concealment. They added that determining ownership was entirely a matter for the courts and prosecutors.