The bars and coins are estimated to be worth €700,000.

The man, who lives in Neuville-sur-Saône, a suburb of Lyon, reported his discovery to the town hall, as he was legally obliged to do, The Times reports. 

Patrick Rachas, a local councillor, praised the man for his honesty and said: “I’m going to start digging now myself.” 

The council called in the police, who traced the origin of the bars, which were numbered and made about 20 years ago. It is believed they were legally bought. 

Antoine Béguin, a lawyer who specialises in such finds, said the finder would be unlikely to keep his hoard. 

He said: “He will probably be entitled to nothing. The heirs of the original owner will probably come forward. If it is proved that whoever hid the gold bars had no heirs, the treasure would revert to the State.”