Daily Halacha - Choshen Mishpat Laws, 26 Tammuz 5777

How to announce a lost item?

One who finds a lost item must announce it through notices in public places. There is no need to publicize throughout the entire city, but only in the neighborhood where the item was found [Igrot Moshe, Orach Chaim 5, 9]. If the lost item is valuable and it appears the owner would pay for newspaper advertising, the finder should also publish in newspapers and may collect these expenses from the owner [Teshuvot VeHanhagot 3, 464].

May one who finds a lost item use it?

One who finds objects with identifying marks, announces them, and the owners do not come forward - if such an item can be purchased in a store, the finder may record its value and use it [Shulchan Aruch 267, 21]. However, if one finds a unique item, announces it, and the owners do not come forward, it is forbidden to use the lost item. Instead, the finder must keep the item as a guardian of lost property and is responsible for it [and it is not sufficient to appraise its value and then use it] [Shulchan Aruch 267, 15].

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