Ohio man discovers decades-old treasure worth $10K while renovating home
In a world where the discovery of hidden money often leads to legal battles or moral dilemmas, one Ohio man proved that honesty — and a willingness to share — can turn an unexpected windfall into something even more valuable.
Walter Castanedo of Toledo planned to renovate the home he purchased in May of 2024 but ended up finding a decades-old treasure instead. He bought a three-bedroom, one-bath house for just $1,000, and while working on the home, he discovered envelopes containing $10,000 in 100 bills hidden between paving stones in the basement.
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"I just kind of felt like 'Whoa'," Castanedo told WTOL 11 reporter Steve Iwanek. "Because you read about this stuff but you never actually see it. And then when it's right there in front of you, it's kind of hard to process.”
Upon closer inspection, he learned that the most recent bill was dated 1981, leading Castanedo to believe that the money had been hidden in the home for decades before being forgotten.
Where did he find the cash?
Castanedo found five envelopes with money inside while gutting the basement of the small home.
"They were black, but you could just make out when I shined a light on it,” Castanedo explained. “There were 100s in the corners."
He found several more $100 bills tucked beneath bricks where he suspected a potbelly stove once stood. According to the U.S. Bureau of Labor Statistics inflation calculator, $10,000 in January of 1981 would be worth $36,276 as of December 2024.
But what Castanedo did with the cash was even more surprising. Rather than keeping it all for himself, he decided to track down the home’s former owner. After making a few calls, he found Andrew Aranyosi, who lived in the house from 1946 to 1967. Aranyosi explained that his dad, Andrew Sr., bought the home in 1937 and lived there until he died nearly 30 years ago.
"I talked to him (Aranyosi) and I said 'Look, I found something in your basement," Castanedo told WTOL11. "I found some money in your basement and I'd like to split it with you. "
Aranyosi was shocked. He suspected his dad likely hidden the cash, but he never knew about it.
"My dad built parts of the home," Aranyosi said. "He added a whole new bedroom on the back of the house above the kitchen, and that's actually the bedroom I was in. The $10,000 — I would say my father definitely tucked that somewhere in the bricks or wherever."
Castanedo, reflecting on his decision, said: “I thought, ‘If the situation was reversed, how would I want the new owner to handle it?’” Castanedo told The Toledo Blade.
Aranyosi was surprised and grateful to have the cash.
"He (Castanedo) found it; it was his, but to have him call and everything was unbelievable," he explained.
According to WTOL11, Aranyosi used his half of the cash to pay medical bills, with some left over for the future. Castandedo said he plans to invest his share into renovating the house.
Read more: Suze Orman: If you think you're ready to retire, think again — 4 critical money moves to avoid a financial crisis in retirement
Who is the rightful owner of found cash?
This story raises an interesting question: Who owns cash found in a house when the person who hid it is unknown?
In this case, the home had been sold multiple times and was most recently owned by the Hungarian Club of Toledo, which used it for storage.
Ohio has a "treasure trove law" that applies to money or valuables deliberately hidden. Traditionally, a treasure trove found on private property belongs to the original owner — if they can be identified and are still alive.
Since it was unclear who had hidden the cash in Castanedo's basement, Ohio law generally favors the finder in such cases. However, if the original owner were known but deceased, their estate might have a claim — like in the case where a contractor found $182,000 in the walls of a home he was working on.
Ultimately, as the finder, Castanedo was entitled to keep the cash. But rather than keeping it all for himself, he chose to share it.
According to The Blade, Castanedo and Aranyosi formalized the arrangement by agreeing to split the money evenly. When the two men met to split the cash, Aranyosi shared stories about his father and the home he grew up in, turning the unexpected discovery into a meaningful connection.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
