What should I do with this iPhone 5 I found at the beach floating in the ocean?

I found an iPhone 5 at the beach, floating in the ankle-deep water. It was completely water-logged and looks like it may have been in the ocean for days or weeks. Of course doesn't power on, has corrosion on the external ports. What should I do with it? Can it be used as a trade-in on a new iPhone 6? Don't know carrier either.What should I do with this iPhone 5 I found at the beach floating in the ocean

It's worthless junk, no good even for parts. It also still belongs to whoever lost it or to any insurance company which paid out for the loss, so if there's anyone genuinely interested in taking garbage as a trade-in you risk being accused of "theft by finder".

You have two realistic choices: throw it away or hand it in to police. The latter may be interested in it if the loss was connected to a crime and also can try to reunite it with whoever owns it. It may be junk, but there's a remote possibility that police or the owner may be able to recover data from it.

BTW: The model #A1428 shows it's Canadian/US spec model originally supplied to an AT&T customer.

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