A small proportion are state property here but we nevertheless give a reward to the finder, which is fair enough, most countries do, but here it's for the whole amount which is a bit excessive. That's when you hear of public appeals by museums to "save" objects. If the money can't be found the object goes to the finder, to sell.
The Staffs Hoard millionaires have just had a second slice of money for the second lot of Treasure found there - by archaeos which again seems just wrong. But the unsaid implication is if the Treasure Act is watered down the State won't see it's stuff.....
Presently about 850 Treasure items are declared per year, against a couple of hundred previously before the Act. PAS paint that as a triumph and a testament to the nobility of detectorists but I, being a sceptic, take it as evidence that there were previously 650 thieving scrotes a year who hid what they found. Since my employment doesn't depend on said scrotes I'm free to say that. ;)