18/11/2010 07:38 GMT | Updated 22/05/2015 06:12 BST

Three-Year-Old Finds £2.5m Treasure With Metal Detector

James Hyatt treasure hunting with his dad Jason A three-year old boy playing with his grandad's metal detector struck gold when he found treasure worth an estimated £2.5million - a 500-year-old gold locket.

James Hyatt struck gold when he unearthed the 16th century artefact in a field on his very first outing using a metal detector.

Experts believe it is one of only four of its kind in Britain and could have belonged to royalty.

Gold pendant found by James Hyatt James's dad Jason said: 'He was so excited when he realised he had found real treasure.'

'He is one of the luckiest people ever. He'll put his hand down the sofa and pull out a tenner.'

James, who lives in Billericay, Essex, was out walking with his grandad and dad in nearby Hockley when he asked if he could use the detector.

The boy, who has now turned four, said: 'It went beep, beep, beep. Then we dug into the mud. There was gold there. We didn't have a map. Only pirates use treasure maps.'

The 2.5cm pendant has a picture engraved on the front of the Virgin Mary clutching a cross and five bleeding hearts on the back.

Its sides carry the names of the three kings who visited Christ after his birth. It has been officially declared treasure and will be offered for sale to the British Museum and other institutions.

A similar artefact was bought for £2.5million by York museum.

The proceeds will be split between the unnamed landowner and James's family.