Since your wallet AirTag is in your possession but not responding, it may have a firmware issue. Your suggestion to reset it would be a good first step. If this one starts working, your missing AirTag might be having the same issue.
Since the missing AirTag occasionally updates its location, that means it’s being detected by other Apple devices nearby (that could also mean your iPhone.) This suggests it still has power, but possibly has a weak signal or is in a hard-to-reach location (e.g., under furniture, in a pile of clothes, or inside a bag).
As such, I suggest trying the following for the missing AirTag:
- Make sure Bluetooth is enabled on your iPhone.
- If you have an iPhone 11 or newer, ensure Precision Finding is turned on under Settings > Privacy & Security > Location Services > Find My. If it’s not showing as nearby, this could indicate a battery issue.
- If you have another Apple device (iPad, Mac, etc.) signed into the same iCloud account, open the Find My app there and see if it can detect the missing tag.
- Using your iPhone, move around your home with the Find My app open, and then, press "Play Sound" multiple times to see if you can hear the tag beeping.
- Enable “Notify When Found” in Find My to get an alert when another Apple device updates its location.
