The Sideshow

Homeless man allowed to keep $77,000 he stumbled upon

The Sideshow

(Updated at 1:10 p.m. ET)

Finders, keepers … losers, weepers, right?

A homeless man is $77,000 richer after being awarded the cash and gold coins he stumbled upon in a Texas park earlier this year.

Timothy Yost, 46, reportedly discovered the loot in January while going to wash his feet in the Colorado River. According to the Austin American-Statesman, Yost told police he kicked a bag he'd spotted and it jingled. Inside was a mound of wet cash and South African coins.

A bank teller called police after he tried to swap the damp dough for fresh bills. Yost showed officers where he made the discovery, but the city of Bastrop kept the money so police could investigate whether a crime had occurred and try to find the owner.

[Related: Recession made me a poorer, but better person]

"Under common law in Texas, typically if it is buried and we are not able to find the rightful owner for the funds within the prescribed time period, then the finder of the funds can petition to be awarded those funds," Bastrop Police Chief Michael Blake told Austin's Your News Now.

On Tuesday night, the City Council voted unanimously to give the bounty back to Yost.

"It is a great day for Bastrop; it is a great day for Mr. Yost," his attorney, Aleta Peacock, told the American-Statesman.

[Related: 'Accidental millionaire' pleads guilty]

Yost was not present. The newspaper reports he's since been jailed for public intoxication and criminal trespass.

But he told Austin's Fox 7 last month that his first purchase would be a car.

"I've been walking for so long," he said.

Here's hoping he makes bail and is behind the wheel of a new ride soon.

View Comments (4649)