- That the hoard had been stripped from the losers' weapons by the winners. This seems pretty plausible, until you ask the question -- wait, the winners lost a huge hoard of gold and silver and didn't go back to find it? Surely the hoard would have been too heavy and bulky for just one guy to carry, so several guys lost it?
- That the hoard had been stripped from the losers' weapons and buried for safekeeping by the losers themselves, but everyone who knew where it was died in the battle. Again, plausible, but I'm trying to imagine a scenario in which you're in the middle of a battle, losing, then take a time-out to strip your weapon and bury the appointments.
Now that a year has passed and specialists have had time to examine and discuss the Hoard a bit more carefully, has some sort of consensus been reached as to the Hoard's origins? Have either of the above explanations been further developed, or has some third explanation perhaps emerged?