An 18-year-old student working a summer construction job in Belgium has uncovered a hidden cache of gold estimated to be worth $10.5 million, including around 40 gold bars and 4,000 gold coins, authorities said.

The discovery was made by Kobi Philips while renovation work was underway at a former brewery site in Dendermonde, about 30 kilometers northwest of Brussels.

Workers were installing drainage pipes in the basement of an old building when Philips noticed what initially appeared to be ordinary coins. As excavation continued, a gold bar emerged, prompting a closer inspection that revealed a much larger hidden treasure.

Authorities estimate the hoard is worth around €9 million (approximately $10.5 million).

Treasure hidden behind a sealed wall

Investigators found that the gold had not been left in the open. Instead, it had been concealed inside a bag hidden behind a brick wall that had been deliberately sealed.

Speaking to Belgian broadcaster VTM, Philips said he initially believed the objects were €1 coins carefully stacked together.

"When we saw the first gold bar, we immediately realized this was something completely different," he said, describing the discovery as something no one would expect "on an ordinary Tuesday morning."

Following the discovery, the workers informed the construction site managers, who immediately contacted police. Officers secured the treasure, while prosecutors opened an investigation to determine its origin and legal ownership.

Authorities investigate ownership

The East Flanders Public Prosecutor's Office is investigating whether the gold was stolen or linked to any criminal activity.

Police photographs released after the discovery show dozens of gold bars and thousands of gold coins recovered from the basement.

According to Dendermonde Police Chief Patrick Weiss, several of the gold bars bear hallmarks dating back to the 1960s, while the coins feature portraits of different monarchs and were minted in various periods.

Building's history may provide clues

Investigators believe the history of the property could help explain who concealed the treasure and why.

The villa was built in the late 19th century by brewery owner Théophile Van Aasche, with beer production beginning on the site in 1899 before operations ended in 1970.

Authorities have not determined when the gold was hidden or who its original owner was. However, several individuals have already contacted police claiming to be descendants of the possible owners and have submitted documents in support of their claims.

Lengthy legal process expected

Legal experts expect competing ownership claims from the property's developer, construction contractors and potential heirs of previous owners.

Under Belgian law, authorities may wait at least five years for a legitimate owner or heir to establish a legal claim before the treasure's ownership is finally resolved.

Philips said he and his colleagues understood they could not keep such an extraordinary discovery secret and hoped those involved in finding the treasure would eventually receive a reward for their role.(ILKHA)