Lost & Found laws, what would you do in this case:

[Tom_in_CA]

post-script: A friend of mine was detecting a beach in a touristy town years ago. Working the dry sand. Dug up an old coin (seated quarter I think) THAT WAS STILL IN A PLASTIC SLEEVE . Doh ! I think it even still have a price tag sticker on it, haha. Obviously someone had just visited the stamp & coin store in that town. Then gone to the beach for whatever reason. And had lost it.

Hmmm, so if the price tag on the sleeve had said $101. Then is he obligated to turn it into the police station ? Or does he go by the .25 c face value of the coin ? Or does he just say "phooey on lost & found laws" altogether ? Ha.

 

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[Johnnybravo300]

Pawn shops across America buy stolen goods everyday and they know it...and most are protected by law. That's what I consider bad karma. If I had a car I really liked I sure wouldn't park it in the ghetto and leave the keys in it.
If the coins were found that easily where his kid handed them out he didn't look IMO.
Someday someone would find those coins and it happens everyday. For all he knows none were found.

 

[Johnnybravo300]

I would only take a wallet or someone's I'd to a police station, or a gun if it wasn't a cool one.

 

[Tom_in_CA]

...If the coins were found that easily where his kid handed them out he didn't look IMO....

This would be common sense logic to an md'rs mindset. Because we know how this "fumble fingers" stuff works. It's our hobby after all. But to someone not versed with md'ing, you'd be surprised how the concept just might occur to them.

 

[Tom_in_CA]

...

As for the issue of reporting them because of the value, I would only consider them to be worth face value as that is the real value as defined on the coins.

Ok, so to your mind: They are not subject to Lost & Found laws, because you're going by the face value of the coin.

Then in that case, let's say the item you "found" was an Apple I-phone latest model. Obviously worth $500, right ? Hence triggering the Lost & found law, right ? But wait : Why can't we go by the INTRINSIC value ? It obviously only has about 10 cents worth of silicone, copper, plastic, etc... Right ?

Same for gold rings: A pawn shop might offer you $50 for a ring. But Midwest refinery offers you $130 for the same amount of gold. And yet .... to the jewelry shop who sold it , it was a $400 ring. So which valuation method do you use, to know if you're subject to the L&F laws ?

I ran this question past an attorney once. And also gave the old-coins example. He paused and said: "You take it to the police, and let THEM decide how to value it " Ok, let's have a show of hands here folks: How many of you intend to do that ?

 

[Johnnybravo300]

He can always go knock on doors and ask for them back and nothing wrong with that. Worst thing someone might tell him no.
The burden of proof lies with him so that's where he'd run into problems. Someone needs to believe his story. Either way he's not looking for for them so its fair game and I'd have a hard time believing any of his story. It just doesn't add up for a serious collector.


What if the school was built in 1950 whenever, 1960 the coins were lost and have been laying there ever since. The guy with the nerdy kid claims it was a recent loss and that his kid lost it and has the janitor keeping an eye out. The dad heard the story years ago when he was a kid and thinks the coins might still be there so he claims them as his and hopes someone will find them and give them to him without questions.
Or maybe the janitor wants them for himself and is making it all up.
Or the janitors kid lost the coins many years ago and in his desperation, he took that job in hopes of watching over his lost cache until he could find them.

Its like any lost treasure story to me and things can get blurry real quick. I don't know any of those people so I can't say what I'd do but it seems questionable to me.

Sometimes its best to play dumb.

 

[Honest Samuel]

I do my best to be honest.