It happened around 8:15 a.m. on Monday, September 2 on the 1700 block of South 4th Street in South Philadelphia.
On Friday, authorities released surveillance video of the incident.
Police said the 87-year-old victim was delivering receipts and payroll to a business on the block when the suspect struck.
The suspect knocked the victim to the ground and fled with the payroll bag.
Anyone with information is asked to call police at 215-686-TIPS.