Wow, missouri-jim, you brought up an old topic
You say: "
As you can see I am very cynical." Well yes, perhaps, but you are also "
very breaking the law" too

I suspect we will all continue to see rings, and other goodies posted daily on the finds-bragging forums on the various md'ing websites, and no one will continue to care.
And thanx for the interesting reading on that link. The end-result of that story, is that her "error" was in her "obstruction of police", or whatever. But her lawyers try to insist that she is doing nothing wrong. Either:
1) that state has no lost & found laws (ie.: "turn in valuables to the police"), or...
2) the cash value of the contents (and intrinsic value of the wallet itself) must've fallen below the criteria of value benchmark (maybe it just had $20 inside, or whatever), but was more of a convenience issue, for the owner to not have to go through hoops of replacing wallet-contents (license, credit cards, photos, phone #'s, etc...).
So it's not completely analogous to our jewelry finds, that do in fact often exceed stated values, but interesting reading none-the-less.
Hey everyone:
Let's get a handful of us, from different geographic locales, to test the theory of the "dissapearing" lost & found items theory (ie.: is there any corruption at police dept's lost & found dept): Let's each take a standard gold band from our collection of finds (one that you are willing to gamble with, that won't break you if you loose). And one that you are absolutely certain couldn't possibly be "claimed". For example, one you found multiple states away from you, multiple year's earlier. Pick one that has unique identifying features. Like: specific initials on the inside, a marriage date inscription, or whatever. Next, walk in to the police dept, wherever you live, and tell them you "found it at such & such location, and realize it exceeds the given value of the lost & found statutes in your state". Tell them that, according to the law, it sounds like you will get the item to keep, if no one comes forward to claim it, after 30 or whatever days.
I wonder how many of us, who would do this experiment, would actually get the item back? Any takers?