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Timothy Yost, Texas Homeless Man, Allowed to Keep $77,000 in Cash and Gold Coins Found on Riverbank

June 13, 2012 by Brett Wilkins in Rich & Poor with 1 Comment

A Texas homeless man’s fortunes have dramatically improved after the city council where he found a bag containing a small fortune in cash and gold coins voted to let him keep the found treasure.

The Bastrop City Council voted 6-0 to return $77,000 in cash and South African Krugerrand coins to 46-year-old Timothy Yost, who is currently jailed on charges of public intoxication and criminal trespassing.

Yost stumbled upon the partially-buried treasure on January 18 when he was on his way to wash his feet in the Colorado River at Fisherman’s Park. When he kicked the bag he saw lying on the riverbank, he heard the sound of jingling coins. Opening it, he discovered 70 soggy $100 bills and many coins.

He then went to a nearby bank and attempted to exchange the wet bills for dry ones. He was turned away by a teller who then called police. Officers confiscated the treasure and issued him a receipt. On March 1, they placed an official notice in the local newspaper, giving the rightful owner 90 days to claim their lost loot.

Bastrop Police Chief Michael Blake told the Austin-American Statesman that one man contacted the department with a credible claim but then inexplicably “pulled out.” An investigation by a local detective found no evidence that the money was involved in any crime.

“It is a great day for Bastrop; it is a great day for Mr. Yost,” his attorney, Aleta Peacock, told the Statesman. “There are a lot of things I would like to advise him to do, but as legal counsel we have boundaries,” she added. “We will ensure he gets his money and also ensure his personal safety.”

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One Comment

  1. marilynJune 14, 2012 at 10:04 amReply

    I am very happy to hear that Timothy gets to keep the money. It was a gift from God. Thank God.

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