Two Australian teenagers who found almost 100,000 Australian dollars in cash during a fishing trip have handed it over to police - after spending some time thinking about it.

The pair discovered the money earlier this month near the New South Wales town of Nimbin - a centre of hippy culture in Australia where members of numerous communes annually celebrate a festival to promote cannabis use.

Police said the teenagers contacted them on Friday, after revealing the find to an unidentified adult they know and getting some legal advice.

Inspector Greg Moore said police were investigating whose money it might be, and whether the stash of cash was linked to crime.

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