10According to Cahill and O'Carroll, "A bracelet and neckring have been deliberately chopped, and the way the objects were arranged in the pit dug to accommodate them suggests a store of objects for re-use rather than any form of ritual offering. "(Cahill, Mary and Finola O'Carroll. "Hoards of the Later Prehistoric Period." Archaeology Ireland 8.2 (1994): 11-13.)
According to Tom Condit, who has proposed that the Mooghaun Hoard was deposited in a fulacht fiadh (cook site) the SW shore of Mooghaun Lough, "It seems likely that whoever deposited the Mooghaun hoard would have been familiar enough with the lake to realise that, if deposited indiscriminately in the lake, it would have been exposed when the lake level dropped. If deposited in the top of a fulacht perhaps protruding above the surface of the lake, the hoard’s location would have been known and its recovery possible." (Condit, Tom. "Gold and Fulachta Fiadh: The Mooghaun Find, 1854." Archaeology Ireland 10.4 (1996): 23.)