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Finding wealth on the beaches. What to do with your finds
Shilo  
Posted : Saturday, 10 September 2011 5:32:26 PM(UTC)
Shilo

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Wow, unbelievable, a government department has taken the logical route! Good going on bringing the issue up with them.

Still trying to work out how they destroy gold. Wonder if we can get access to the ashes from the incinerator....... :)
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rgmcbrid  
Posted : Wednesday, 23 November 2011 4:50:20 PM(UTC)
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So if you find something of value, do you have to turn it in to the police? If I found a relatively new engagement ring for example I would feel like I should turn it in. If I found a really old one I wouldn’t bother because the owner (if alive) is not going to go check the police station for it now. So would it still legally be mine if I didn’t turn it in?
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Shilo  
Posted : Wednesday, 23 November 2011 6:24:37 PM(UTC)
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Originally Posted by: rgmcbrid Go to Quoted Post
So if you find something of value, do you have to turn it in to the police? If I found a relatively new engagement ring for example I would feel like I should turn it in. If I found a really old one I wouldn’t bother because the owner (if alive) is not going to go check the police station for it now. So would it still legally be mine if I didn’t turn it in?


As I understand it (not being a lawyer) legally no - it won't be yours. But even after handing it into the police and getting it back as unclaimed 3 months later it still won't legally be yours. The receipt from the police is not proof of ownership - the item will still belong to the person that lost it just like a 80 year old find. It even says this on the receipt.

BUT, so long as you can prove that you took all reasonable steps to trace the original owner then nothing will happen to you when you go to sell the item. Even the police auction of lost and recovered goods that they aren't the legal owner. What constitutes "reasonable steps" is really up to the finder. I personally think that a lose over a year old means that tracking the owner down would be near impossible.

Also consider that fact that most jewellery is insured. If you loose a wedding ring and claim the insurance for it - you are no longer the legal owner, the insurance company is. So if some nice MD'er shows up a year later with your ring and you thank him but don't repay the insurance company you are committing fraud. From talking to people who have lost valuable jewellery - I have found that most have claimed insurance and don't realise that having it returned to them they will have to repay the insurance company. So when considering what is a suitable time period for handing it into the police I take this into account as well.

I don't plan on selling any of my finds until I retire so haven't tested the above yet. But I doubt very much that if you turned up at a jewellers or refiner with an obviously old ring that you would be asked for proof of ownership.
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