Illinois Treasurer to auction off unclaimed property
SPRINGFIELD, Ill. (AP) _ The Illinois treasurer’s office is auctioning off almost 500 unclaimed items ranging from collectible coins to jewelry and baseball cards.
Treasurer Michael Frerichs said Monday the online auction will be held March 27 to 31.
The treasurer’s office becomes the custodian of unclaimed property after private entities such as banks try for at least five years to locate the owner. Much of the property was left behind or forgotten in a safe deposit box or bank account.
The items are put up for auction after they’ve been unclaimed for at least 10 years.
Frerichs says that while the state cannot store the items forever, it can secure the proceeds and return the value to the proper owners.
The items up for auction are worth about $32,000.