The method has been further refined and developed since Libby invented it. One very important advancement was that it was discovered that the amount of C14 in nature is not constant. This was corrected by radiocarbon dating of tree rings with a known calendar year date, using the very long-lived California bristlecone pine. This is called calibration, and in general leads to the calibrated dates (in calendar years) being older than the uncalibrated dates (in C14 years).
You can read about radiocarbon dating in much more detail here: Radiocarbon dating
When undertaking radiocarbon dating of artefacts, it is important to be aware that the date of the sample may not always tell the age of the artefact. As an example: Arrowshafts are sometimes made from split pinewood. Pine can become several centuries old, and once the annual tree-ring is formed, it no longer takes up new C14. Thus, there is a potential old-wood problem here. The date we get from the wood may be hundreds of years older than when the artefact was used. However, many objects are made of shorter-lived materials, such as birch, bark or wool, minimizing this problem.
We will be submitting a number of radiocarbon samples to provide dating of artefacts found during this field-season. However, one find has been given VIP treatment – the sled found on the first day of fieldwork. A radiocarbon sample was recently submitted to Beta Analytic in Miami and the result should be ready by Monday 8th of this month. The sled is not datable by type, but it has an iron nail. This makes it likely that it is younger than 2000 years, which is when iron started to be commonly used in Norway. At the same time, very few of our finds from ice are younger than the Medieval Period. We will know the result by Monday. Exciting times!