A METAL detecting enthusiast and a landowner could be paid up to £20,000 for an engraved gold ring thought to have been commissioned by a medieval knight for his lover.

York Hospital risk management worker Steve Whitehead said while the British Museum had ruled out a theory that the posy ring had once been owned by one of King Henry VIII's wives, the reward would still enable him to revamp part of his home.

Mr Whitehead said he had started shaking after unearthing the artefact four inches from the surface during a Down to Earth metal detecting club event near Sinnington, North Yorkshire, in September.

"I knew it was gold more or less straight away", he said. "It came out of the ground quite clean. I was really quite excited and over the moon.

"I noticed it had an inscription on the inside and outside. We all got really excited and I was shaking a bit."

The ring features a bezel set with dark blue glass and a gothic inscription which reads: “As good and evil always endure, quiet the evil in our heart.”

From the 15th to 17th centuries rings with inscriptions were given to show regard or as a gift and it is thought the Sinnington find dates from the earlier years of that period.

It was initially thought the ring may have a Royal connection, as the land once belonged to Catherine Parr, the sixth wife of Henry VIII, but a British Museum report has cast doubt on the theory.

It has now been declared as treasure by North Yorkshire coroner Michael Oakley, after it met age and precious metal criteria.

The ruling meant museums had the opportunity to buy it at its full market value, which has initially been estimated at between £15,000 and £20,000.

The York-based Yorkshire Museum is set to buy and display the ring, with the funds being split between Mr Whitehead and the landowner, who has not been named.

The British Museum’s Treasure Valuation Committee is now set to value the ring.

However, Mr Whitehead said the museum could bring in their own experts, so the provenance of the ring may yet change.

Mr Whitehead, of York, said: “I think whatever the reward is, it’s been earmarked. My wife wants a new kitchen.

“This was the first time I’ve found anything like this, and the first time I’ve found treasure. The process was a bit daunting; there’s a lot of things to go through.”