thanx everyone for taking a stab at this true happening. Great input.
Yes the L&F laws are generally a moot point, it seems we all agree. NO md'rs are in strict compliance with those, lest we'd all be "rushing to the police dept" when you find each ring (or in this case, perhaps even coins that have numismatic values that trigger your state's L&F laws). Yet the last time I looked at the show & tell "today's finds" section, and the beach hunting forum section, there is NO SHORTAGE of md'rs proudly showing their latest show & tell stuff, eh ? And I highly doubt any of them are rushing to the police.
The law doesn't stipulate how long YOU think they were there, or whether YOU think the guy has receipts proof, or whether YOU think he's "still looking for it". And it's not only in effect when you are now appraised that someone's looking for it (versus before when you were blissfully ignorant). None of that is latitude given by the L&F laws. It simply says turn them in.
However, we instinctively know that this is not realistic. We know that *normally* an 1890 $5 gold found at a stage stop is most likely lost at turn-of-century. And we instinctively know that, barring a class ring, etc... that non-identifiable rings, will not likely ever be claimed at police stations. And we instinctively wonder if we'd even get them back, to begin with. The L&F person at the police station could merely say "it was claimed". And they would have no obligation to tell you who picked it up (d/t privacy laws, etc...).
So putting L&F laws aside, this story was really probably about just conscience and ethics upon revelation of probable origin of stuff you've been finding. I personally would hunt the guy down, and get his stuff back to him. Then you have the following problems though: What if your buddy disagrees ? (as several on this thread have). You're in a pickle. Because:
A) sure, you can return your half of them to this guy, but then must look him in the face, and say you have no idea what happened to the still un-accounted for coins (though you know full well your buddy has them). Add to that your buddy now thinks you're a trouble maker, doesn't want to hunt with you anymore, and there's a riff between you guys now.
B) what if you or your buddy had already sold a few on ebay, and you'd since gone out and spent the proceeds? As much as you desire to be honest (as some others of you on this thread sided with) you'd be in a pickle. Personally, I'd include that in with the repatriation attempt, and either try to get his coins back from whomever I'd sold them too (if the buyer allowed), or give the owner the money I'd sold them for.
As for #B, that guy, if he got wind of the fact you'd sold them, could actually force your hand legally I suppose. Since technically you just sold "stolen property" ? Yes I know we don't call it "stolen", we call it "found". But that's where the L&F laws start to weasel their way back into the issue: because in the eyes of the law, you DID steal it, if you didn't turn it in. No different than keeping a bundle of cash that fell out a door of a Brink armored car. You can't say "finders keepers". So too could the father bring legitimate legal concerns to your windfall ebay proceeds. Not saying he would, but .... just sayin'
sigh......
