The 32-year-old woman found the money in a parking space in the Cologne district of Chorweiler on Monday afternoon, police report.
To her surprise the bag was full of banknotes - €48,000 worth. And there was no one in the vicinity to whom it might have belonged.
While many people might have chosen otherwise, the woman took the bag to the nearest police station.
After finding a wallet which contained an identity card inside the bag, police were able to contact the owner.
The 52-year-old man came to the station shortly after. There he met the honest young woman and compensated her with €1,450, which is also a required payment for lost-and-found items under German law.
Police did not reveal why the man was carrying the wads of cash, but said that “our investigations have revealed that everything was perfectly legal.”