Bastrop allows homeless man to keep treasure

Bastrop allows homeless man to keep treasure

Posted: Updated:

After months of uncertainty, the Bastrop City Council has decided that a homeless Bastrop man, who found at least $70,000 worth of gold coins and cash in a park, will get to keep the money.

Timothy Yost could not attend the hearing Tuesday night because he is currently in jail on a public intoxication charge. But his attorney was on hand.

"It means everything to him. He has a whole future ahead of him. He has the opportunity to make plans and have a real future," said Yost's Attorney.

"I've been walking for so long, first thing I want is a vehicle," said Yost.

On January 18, Yost found a bag of 70, $100 bills and 40 kruggerand coins along the Colorado River in Fisherman's Park.

Kruggerand coins are collector coins from South Africa. They are one ounce of gold and according to one seller's website sell for approximately $1,600 a piece

According to police, the money was in a plastic bag that appeared to be buried. The dollar bills they say were cashed out from a Wachovia Bank.

The money was wet, so Yost took it to a nearby bank to trade the wet money for dry money. The teller at the bank called 911, thinking he had committed a crime.

Police took custody of the money.

Ever since Yost and his attorney have fought to regain custody, and even sued the city. That lawsuit has been dropped. 

Police here tonight told council members that they reached out to the FBI and determined the money was not used to commit a crime. They then posted notices in a local newspaper looking for the rightful owner. Some people called, but none of their claims panned out.

Yost will now have possession of the money within the next 48 hours. The mystery of who left the bag of money in the park continues.

The Bastrop Police Chief told FOX 7 he is happy as to how this concluded as well. The chief says the city never wanted to keep the money.

Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices