I found a stolen iPhone 4.

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Turn it in. In my state you can be charged for theft if you are in possession of of lost/stolen/mislaid property and you made no attempt to return the rightful owner. Most states have the same laws and it is easy to use them for stuff like cellphones.
 
I doubt you'll get much even if you sell it. The 4s is really the bare minimum you need. I'd just keep it or turn it in, it doesn't have much use anymore.
 
The 4 is useless now anyway. It might not even be stolen rather abandoned. The owner if there was one probably got a new 6S by now and wouldn't care either way. They can't run the latest OS and are slow as shit.

If there's no message on the screen saying its lost then you could call Apple and give them the serial number. Maybe they'd know something. But it's probably more trouble than it's worth since as I said the owner has probably moved on.
 
AT&T Wireless has a promo where if you port in a number they'll give $100 for the line move, and $200+ for a phone valued at $10 or more. The iPhone 4 seems to just make the cut.
 
AT&T Wireless has a promo where if you port in a number they'll give $100 for the line move, and $200+ for a phone valued at $10 or more. The iPhone 4 seems to just make the cut.

This is super smart, you think they don't screen the traded in devices to see if they were reported as stolen? Say hi to the cops for me if you try something like that.
 
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