Wow, that's an interesting question. It's also a legal question. Because : Since you were so nice to reach out to find an owner, let's just say (hypothetically) that you waited several more months. And then melted it down and spent the cash. But then all of the sudden they contact you, and you are put into contact with the bona fide owner . You tell that owner :
" Sorry, I already melted your ring and spent the $$."
Would you be in some sort of legal trouble ? Because all 50 states (including your state of Texas) has "Lost & Found" laws. That typically stipulate that if anyone finds an item worth over a set-amount (typically like $100 or more), that they are to turn in the item to police L&F. It is *NOT* up to individuals to try their own repatriation attempts. And if no one claimed the item in 30 days, that you can go back to the police and claim it for yourself.
These L&F laws were born out of wandering cattle laws of the 1800s. And serve a good purpose . Now, are those L&F laws ever invoked for our type of fumble-fingers stuff ? Of course not. But
*could* someone cry foul, in a case-like-yours ?
From a "reasonable man" perspective, it seems reasonable that if no one has gotten back to you by now, that they most likely WON'T get back to you. But from a technical legal perspective, you were already in-the-wrong. For not trotting down to the police station on the first day you found it.
And the law makes no provision for how long you think the ring was lost for. Ie.: We are not allowed to rationalize : "Shucks, this has been here for years, so I bet the person is no longer looking for it".
So to answer your question: Do you want the realistic answer ? Or the technical answer ? (BTW : Nice find !
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