Tinian is a bit over the top in his presentation, but he does have a point. If Henley found this hook on public land, it isn't his. Artifacts found in the US generally belong to the landowner. If the landowner in this case is the state or federal government, Henley has no right to keep or sell it. He may have no CHOICE but to donate the artifact.
If he was on private land and had permission from the landowner to be there, then he has himself a nice (and likely valuable) artifact. If it was public land, it needs to be turned over to whatever agency manages the land.
Protection of antiquities on federal lands started with the Antiquities Act of 1906.
Almost all (or all?) states have similar laws pertaining to public property.
Found on a sand bar in the Missouri River.