The Mystery of King Tut's Tomb

The boys are traveling through Egypt on their way to Kenya. When Frank succeeds in recapturing a purse snatched in an Egyptian bazaar, he is mystified when the owner, a lovely American girl, refuses to take it back. Instead, she pushes the key to her hotel room into his hands and asks him to meet her there later. When he and Joe open the purse they find what appears to be a priceless artifact, which has almost certainly been stolen. That evening at the hotel, they don't find the purse's owner, they find the street urchin who'd stolen the purse (who escapes again), and then the police - who confiscate their passports.
Info from www.geocities.com/hardyboysnancydrew/program.html, got permission from Greg.

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