Additional excavations were conducted in the summer of 2000 and in 2003-06. Remnants of wood, iron rivets and mounts as well as a lock mechanism were found, leading to the conclusion that the caches had been stored in chests.
An extended survey and excavation revealed the foundations of a building and indicated that the hoards had been placed under the floorboards of what would probably have been a warehouse, shed or storage rather than a dwelling since it had no hearth. Carbon dating showed that the building had been in use between 540 and 1040.
The foundations and the remaining postholes indicated a regular Viking Age structure, about 10 by 15 m (33 by 49 ft) with a slanting sedge-covered roof, much like other similar finds on Gotland. It had been built on an older Iron Age foundation.
The silver deposits were roughly square-shaped with rounded corners, about 40 cm to 45 cm × 50 cm (16 in to 18 in × 20 in), suggesting that they had been in sacks of cloth, leather or pelt, inside boxes or chests of wood.
In the bronze deposit were found substantial pieces of wood and iron, such as fittings, ironwork, nails and a lock-device, showing that the bronze had been kept in a sturdy chest. A carbon dating of the chest dated it to approximately 675, making it older than the objects stored inside it.
Although silver hoards and treasures are not unusual on Gotland, this was an exceptionally large find. One explanation may be found in the location near some of the island’s best and most significant harbours during the Viking Age. The silver in the caches would have been enough to pay the tax to the Swedish king for all of Gotland for five years.
The following surveys and excavations of the fields surrounding the find-site showed that the site had been inhabited continuously over 1,000 years up until the 19th century. Over 700 more objects were retrieved, such as objects of bronze and copper, fired clay, clothes pins, a piece of glass, tile pieces, chains, needles, glass beads, slag, iron nails, polished semi-precious stones and brick.
The Spillings Hoard is the world’s largest Viking silver treasure. A finder’s fee of SEK 2,091,672 (approx. US$242,400) was paid to the landowner for the treasure, although the real value of it is much higher. It was the largest amount of money ever paid for a find in Sweden, according to director of the Swedish National Heritage Board Sven Göthe. The hoard was dated to have been hidden some time after 870–71.The treasure is on permanent display in the Gotland Museum.
As of 2015, more than 1,000 kilograms (2,200 lb) silver from over 700 caches deposited between the 9th and 12th centuries have been found on Gotland. This includes 168,000 silver coins from the Arab world, North Africa and Central Asia.
The caches contained silver objects ranging from coins, bars, thread and hacksilver to be used as raw material, to jewelry such as fingerings, bangles and pendants. Much of the material had been bundled up to correspond with the mark-weight system of the Viking Age, in which 200 grams (0.44 lb) made one mark.