The 84-year-old man was waiting at the taxi rank at approximately 7pm when a 42-year-old woman grabbed his wallet, leaving him with minor injuries to his left arm.

According to Canobolas Local Area command duty officer Glenn Griffith several people witnessed the incident and came to the man's aid.

"The woman was detained by witnesses until police arrived," Sergeant Griffith said.

Sergeant Griffith thanked the public for their help but reminded people to call police before taking action themselves.

"If people see something like this happen they should call triple-0, and maintain sight of the offender until police arrive," he said.

"They should also take note of any other details they can, such as the person's car registration."

The woman was refused bail by police on Sunday night and released on conditional bail on Monday morning.

tracey.prisk@fairfaxmedia.com.au