If ever there was mitzvah that seems absolutely logical, returning lost objects seems to exemplify that genre to perfection. And yet, a good fraction of Bava Metzia discusses its intricacies. In fact, though, one finds that most of the discussion is when the mitzvah to return lost objects does not, in fact, apply. That tactic is often used by Chazal when mapping the applicability of this or that mitzvah. By delineating the borders -- even if there is some small uncertainty (machlokes), we achieve clarity on what is definitely inside and what is definitely excluded.
Here are the primary exclusions to the obligation to even pick up a lost object.
First and foremost, you need to be sure it is a lost object you are retrieving. As obvious as that sounds, it has quite practical implications. First, an object that is lying in a protected area is not lost. It may have been sitting there for months or years, as evidenced by the thick layer of dust and confirmed by carbon dating. No matter. If you find a book or sweater in a shul coat room -- do not move it; it's not lost. As a corollary, if you find something that was definitely placed there -- even if the area is only a little protected -- then it is not lost. For example, a neat stack of stuff next to someone's mailbox in the common area of an apartment complex. The logic is simple: In either of these cases, even if the owner forgot to come back to get them, you will only make matters worse by moving it. Don't.
Second: Something of no practical value. The gemara calls this less that the value of a p'ruta. A p'ruta is not the smallest coin of the realm, as is a common misconception (one dearly held by yours truly until quite recently). R' Moshe says that a p'ruta is the smallest coin you can use to buy something. As far as I know, you can't even buy a gumball for a penny any more. There used to be nickle slot machines in Virginia City (old mining town, now maintained for for tourists); but I believe those are also long gone. So let's call the modern (2017 CE) value of a p'ruta in America is a quarter. If you find something worth less than a quarter (a dime, say), then you do not need to pick it up. You can, if you like; then it becomes yours as it is not worth the bother for anyone to be seeking it.
Here's an interesting one: something that someone has despaired of ever seeing again. A hoody with no marks that could be used to uniquely identify it and left in a public area. The owner has certainly despaired, but since it hasn't been moved it is still halachically in his control. If you move it, then you are moving it out of his control, thus effectively stealing it. Don't do that.
On the other hand, if it was dropped in a place where they tide could take it, then you are allowed to take it for yourself. You needn't return it, because -- the way Chazal explain it -- HaShem has taken it away from him. It is now ownerless and you are welcome to ignore it or acquire it, as you like.
You are also not required to take more care of a lost item than you would of your own. If you see a nice hat covered in sewage, you are not obligated to pick it up to clean it. This one is interesting because it depends on your own social station. I, for example, would certainly retrieve even an old shirt (much to my childrens' dismay) from the waste bin. But if it is beneath one's dignity to retrieve an item, then one need not pick it up. It is, however, considered meritorious to find someone whose standards of dignity are somewhat lower and direct them toward the item. You can pretty much send me after anything.
Similarly, you are not required to take more care of another Jew's items than he takes himself. If he is careless, then we are not obligated to keep picking up after him.
Let me preface this next one with the fact that the entire Jewish nation accepted responsibility for every other Jew when accepting the Torah. The common application is that if one Jew has failed to perform a mitzvah, then the entire Jewish nation is lacking and one of us can pick it up for him. (That is part of how it works that one person makes kiddush for several Jews on Friday nights.) It also means, moreover, that we accepted (and accept) responsibility for every other Jew's property. If a Jew loses something, the entire nation is obligated by that acceptance of responsibility to help him find it and return it to him. That being said; we are not obligated to pick up nor return the lost object of a non-Jew. Sometimes you should, other times you are not allowed. That is a whole discussion on its own.
There are some other corner cases, but that covers most of the exemptions. If it doesn't fall into one of those categories, you can get a real, live, Torah level mitzvah by returning it. Not only that, but Chazal say that from this it is obvious that you are also required to do what you can to prevent a loss to a fellow Jew. Suppose you see that someone has left his car lights on one winter evening. If you tell him, then you prevent the loss he would suffer by having a dead battery in the morning. Again, that is a real, live, Torah level mitzvah just by knocking on his door to tell him about his lights. If someone moves to Chicago from Dallas and doesn't know about leaving his water running on cold winter nights to prevent broken pipes, than you get a real, live, Torah level mitzvah just by educating him.
Here are the primary exclusions to the obligation to even pick up a lost object.
First and foremost, you need to be sure it is a lost object you are retrieving. As obvious as that sounds, it has quite practical implications. First, an object that is lying in a protected area is not lost. It may have been sitting there for months or years, as evidenced by the thick layer of dust and confirmed by carbon dating. No matter. If you find a book or sweater in a shul coat room -- do not move it; it's not lost. As a corollary, if you find something that was definitely placed there -- even if the area is only a little protected -- then it is not lost. For example, a neat stack of stuff next to someone's mailbox in the common area of an apartment complex. The logic is simple: In either of these cases, even if the owner forgot to come back to get them, you will only make matters worse by moving it. Don't.
Second: Something of no practical value. The gemara calls this less that the value of a p'ruta. A p'ruta is not the smallest coin of the realm, as is a common misconception (one dearly held by yours truly until quite recently). R' Moshe says that a p'ruta is the smallest coin you can use to buy something. As far as I know, you can't even buy a gumball for a penny any more. There used to be nickle slot machines in Virginia City (old mining town, now maintained for for tourists); but I believe those are also long gone. So let's call the modern (2017 CE) value of a p'ruta in America is a quarter. If you find something worth less than a quarter (a dime, say), then you do not need to pick it up. You can, if you like; then it becomes yours as it is not worth the bother for anyone to be seeking it.
Here's an interesting one: something that someone has despaired of ever seeing again. A hoody with no marks that could be used to uniquely identify it and left in a public area. The owner has certainly despaired, but since it hasn't been moved it is still halachically in his control. If you move it, then you are moving it out of his control, thus effectively stealing it. Don't do that.
On the other hand, if it was dropped in a place where they tide could take it, then you are allowed to take it for yourself. You needn't return it, because -- the way Chazal explain it -- HaShem has taken it away from him. It is now ownerless and you are welcome to ignore it or acquire it, as you like.
You are also not required to take more care of a lost item than you would of your own. If you see a nice hat covered in sewage, you are not obligated to pick it up to clean it. This one is interesting because it depends on your own social station. I, for example, would certainly retrieve even an old shirt (much to my childrens' dismay) from the waste bin. But if it is beneath one's dignity to retrieve an item, then one need not pick it up. It is, however, considered meritorious to find someone whose standards of dignity are somewhat lower and direct them toward the item. You can pretty much send me after anything.
Similarly, you are not required to take more care of another Jew's items than he takes himself. If he is careless, then we are not obligated to keep picking up after him.
Let me preface this next one with the fact that the entire Jewish nation accepted responsibility for every other Jew when accepting the Torah. The common application is that if one Jew has failed to perform a mitzvah, then the entire Jewish nation is lacking and one of us can pick it up for him. (That is part of how it works that one person makes kiddush for several Jews on Friday nights.) It also means, moreover, that we accepted (and accept) responsibility for every other Jew's property. If a Jew loses something, the entire nation is obligated by that acceptance of responsibility to help him find it and return it to him. That being said; we are not obligated to pick up nor return the lost object of a non-Jew. Sometimes you should, other times you are not allowed. That is a whole discussion on its own.
There are some other corner cases, but that covers most of the exemptions. If it doesn't fall into one of those categories, you can get a real, live, Torah level mitzvah by returning it. Not only that, but Chazal say that from this it is obvious that you are also required to do what you can to prevent a loss to a fellow Jew. Suppose you see that someone has left his car lights on one winter evening. If you tell him, then you prevent the loss he would suffer by having a dead battery in the morning. Again, that is a real, live, Torah level mitzvah just by knocking on his door to tell him about his lights. If someone moves to Chicago from Dallas and doesn't know about leaving his water running on cold winter nights to prevent broken pipes, than you get a real, live, Torah level mitzvah just by educating him.
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