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“So it would seem, but nowadays people rarely search signs for non-valuable items; it is unlikely you will succeed in returning the item,” said Rabbi Dayan. “Therefore, Rav Y.S. Elyashiv, zt”l, ruled that if the item is not valuable and might have be placed there – it is preferable to leave it, even if there is a siman; perhaps the owner will return. Thus, you should leave the cap where it is. However, if the item is a valuable hat that the owner would search for and had a siman – you should take it home and publicize.” (Hashavas Aveidah K’halacha 1:9)
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