44 Again, the kingdom of heaven is like treasure hidden in a field, which a man found and hid; and for joy over it he goes and sells all that he has and buys that field.
field — In the previous parables, the field is the world
man — In the previous parables, the man is the Son of Man, Jesus Christ
According to Exodus 19:5, God declared to Israel, “If ye will obey My voice indeed, and keep My covenant, then ye shall be a peculiar treasure unto Me above all people: for all the earth is Mine.” According to Psalm 135:4, “The Lord hath chosen Jacob unto Himself, and Israel for His peculiar treasure.”
… As we trace the gospel narratives, it is clear that Jesus came with a special purpose of redeeming Israel, although at the same time He reconciled the world unto Himself. It was Jesus, therefore, who sold all that He had in order to buy the treasure, Israel, and to purchase it with His own blood (Philippians 2:7-8; 1 Peter 1:18-19). During the present age, Israel is a hidden entity in the world, only to emerge at the end of the age as a major factor in the prophetic fulfillment leading up to the second coming of Christ. — Walvoord, page 105.
I would agree with Walvoord except with his reference to the present age. This age was hidden when Christ was speaking, so He couldn’t have been referring to it. He could, however, have been speaking of the period on the prophetic timeline between when He spoke and His second coming. For the rest of the time before His death, for the period between Pentecost and Acts 28, and for the still future Tribulation, Israel will be hidden. The parable only goes this far. It doesn’t refer to the time when the treasure will be dug up.