Couple's magnet fishing hobby leads to soggy $100K discovery

James Kane and Barbara Agostini, of Queens, were out on a regular magnet fishing trip in Flushing Meadows Corona Park when they stumbled upon something truly remarkable – a waterlogged safe containing what they estimated to be $100,000 in cold, hard cash.

Kane and Agostini were magnet fishing on Friday, May 31, when their powerful magnet latched onto the waterlogged safe. "I thought it was a bunch of little baggies," Kane told News NY1. But when they pried it open, they found thick stacks of soaked bills.

"I lost it once I saw the actual dollars and security ribbons," Agostini said. Unfortunately, the money was "pretty much destroyed" from being submerged.

The couple quickly contacted the New York Police Department about their surprising catch. "We did research and found there could be legalities," Kane explained to NY1.

According to the outlets, police told the couple the safe was likely stolen, but there was no way to trace the rightful owner. "They were like, 'Well, congratulations,'" Agostini recounted.

"Found property valued at $10 or more is required to be reported to, and deposited with, the police," stated a spokesperson for the Office of the Deputy Commissioner. "In this instance, the value and authenticity of the alleged currency could not be determined due to the severely disintegrated condition of the property."

The baffled officers visited the couple to inspect the safe themselves, having never encountered such a case before. The duo made other peculiar finds in their underwater exploration and fishing expeditions, such as WWII grenades, vintage guns, and even motorcycles.

Kane and Agostini chronicle their "fishing adventures" on YouTube. The thrill of magnet fishing lies in never knowing what you might reel in from the depths – some enthusiasts have even managed to haul up objects weighing over a ton with their powerful magnets, transforming this quirky pastime into a pursuit of unearthing hidden treasures.

While lucrative catches like this $100K safe are extremely rare, the trend has prompted some safety concerns. In Massachusetts earlier this year, two military projectiles were magnet-fished from the Charles River, leading to an emergency response.