The finder of the Staffordshire Hoard and the landowner will share a total of £3.285million.

The Treasure Valuation Committee meeting at the British Museum yesterday agreed the record figure for the 1,800 Anglo-Saxon gold and silver items.

Finder Terry Herbert, of Burntwood, the landowner Brownhills farmer Fred Johnson and the two museums which hope to acquire the hoard, Birmingham Museum and Art Gallery and the Potteries Museum and Art Gallery, Stoke-on-Trent, have all approved the valuation.

Mr Herbert’s find, using a metal detector in a field near Burntwood on July 5, was the largest hoard of Anglo-Saxon gold ever found.

Mr Johnson, aged 65, said today: “I think it is a fair and reasonable figure.

“The public have to raise that money and I don’t think we could have expected anything more.”

He has not yet decided how to spend his £1.6m share.

The fundraising campaign will now begin for the joint acquisition of the hoard by the museums.