Homeless man in Texas wins right to keep bag containing $70,000 in cash, gold

Timothy Yost, a homeless man in Texas has been allowed to keep at least $70,000 in cash and gold coins which he found along the banks of the Colorado River. The 46-year-old man reported that he found a bag of gold coins and cash on the banks of the Colorado River in Bastrop, Texas, and the City Council has reached the decision to allow him to claim ownership of the contents of the bag worth at least $70,000.

The decision that he can keep the loot was reached unanimously by the council but he had to wait a few days to get his loot because he was serving a jail sentence for public intoxication.


Yost had a change of fortune on January 18th, when he went to wash his feet at the river in Fisherman’s Park. He says he saw a bag lying nearby, kicked it to find out what or if there was anything in it and heard things jingling in it. When he opened it he discovered wet money inside which he to a First National Bank branch to be exchanged for dry currency.  The bank called the police who took Yost in and took possession of the bag to investigate it. The authorities put a notice in the newspaper for someone to claim the bag and contents.

True to police expectations, someone came out to claim the loot, but later rescinded the claim and even signed a statement to confirm that he does not wish to pursue the claim to the money and gold more. With the claimant out of the picture, and the 90-day claim window having elapsed, the City Council came in to deliberate and decide the fate of the loot. The assembly, in the end, decided to give the person who found the bag and its cash and gold coins content, Yost, ownership of his find.

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