THE popular saying is “find a penny, pick it up” – but it’s not the best advice to follow.
Coming across cash on the floor can be exciting but it could land you in trouble.
You may want to think again before picking up cash off the floorSWNS
Gerard Filitti, attorney at law and senior counsel at The Lawfare Project told The Sun people should be careful about picking up bank notes they find on the street.
He said: “In the UK, if you find money on the street and don’t attempt to return it to its rightful owner, you can be charged with “theft by finding.”
“Under the Theft Act of 1968, a person is considered guilty of theft if they dishonestly appropriate property belonging to another.
“This includes cash,” he added.
The legal expert said trying to return the cash to its rightful owner doesn’t have to be a complex process.
Gerard explained: “Attempting to return the money can be as simple as handing it to a shop owner or manager if the money was found in the shop – provided that you believe that shop owner will make reasonable efforts to return it to its owner.
“If the money is found with ID or some documentation, you can reasonably attempt to return the money yourself.
“If the money is found on the street – or if you don’t trust a shop owner, for example – you should hand it in to the local police station.
“Should the rightful owner not be identified within 28 days, you can then claim the money.”
What if it’s treasure or old money?
If you find something shiny and it isn’t what we use for money, Gerard said things differ slightly.
“With regard to treasure, the Treasure Act of 1996 requires people who find treasure to report the find to their local coroner within 14 days.
“A coroner’s inquest will determine whether the find does, in fact, constitute treasure under the Act.
“If it does, then the finder is compelled to sell the find to a museum, at a price determined by an antiquities board.”
He said that if it is determined it is not of interest, the finder may be able to keep it.
Gerard added: “It should be noted that if something is found in or attached to the land (think buried treasure), in the event that the coroner’s inquest determines that it is not treasure or a museum has no interest in the find (if it turns out to be treasure), then the person in lawful possession of the land is entitled to it – even if this person is not the one who found it.”
A metal detectorist recently discovered a rare gold coin in a field in England that could earn him nearly half a million pounds.
And a couple found one of UK’s largest ever treasure hoards in 2019 after discovering 2,600 ancient coins worth around £5million.
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