As for why he didn't toss it in the ocean, he's probably not that bright.
I saw an interview with him last night on News Nation. He kept pausing every several words and barely strung one whole sentence together. (I kept motioning to the TV, "Come on, speed it up. Put it together. Spit it out!"

) He did finally say he was so emotionally overwhelmed by it all that he couldn't talk (during the whole 5 minute interview.) But, I also kind of wondered if the spaces in his talking weren't also normal spaces in his thinking, and that's why he couldn't string whole sentences together.
He described the situation:
"His wife had filled some luggage that was getting heavy. . .
He reached for a duffle bag that he uses a lot. . .
He and his wife just started throwing stuff into the duffle. . .
Later, when they showed him the baggie of ammo, he did recognize it. . .
But, he never remembers EVER having put it in the duffle. . ."
His brain didn't seem to work like:
"He reached for a duffle bag that he uses a lot. . .
for hunting. . . so he should check to see if he left anything in it. . . let alone hunting related. . .
He said he was let out on bail. He is not to leave the islan and must do check ins twice a week. He is staying in a B&B on the island. His parent's flew down to be with him and is paying for the B&B. Two different people who live on the island, whom he doesn't even know, put up the collateral for his bail. One man put up his car, and the other put up his whole restaurant.

He generously, publicly thanked them and said what great people are down there. He has to do daily check ins with the restaurant owner.
Someone did set up a Go Fund Me account for him here in the states. Last night it was up to $160,000+ for him. But he hasn't been able to look at it. His brain won't go there to think it's real. (His words not mine.)