Treasurer Michael Frerichs announces online auction for unclaimed property
Live Auction June 22-26, sale preview underway

[June 09, 2015]  SPRINGFIELD – Silver bars, commemorative coins, stamps, and jewelry are among the 9,500 items worth $76 million to be auctioned online June 22-26, Illinois Treasurer Michael Frerichs said today.

“Our unclaimed property team works hard to return valuables to their rightful owners. If the property goes unclaimed for 10 years, the items are auctioned to make room for incoming unclaimed items,” Frerichs said.

Other auction items include vintage cards of Stan Musial, Elvis Presley, and Elizabeth Taylor. Baseball Digest magazines with covers of Billy Williams, Johnny Bench, and Brooks Robinson also are available.

Auction items have been appraised by an outside vendor. Auction participants can register at illinoistreasurer.gov and click on the Unclaimed Property Auction link. For questions, call 217.557-8567.

The Illinois Treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, and forgotten safe deposit boxes. Items are auctioned after private and public entities tried for at least 10 years to locate the owners. The office secures more than $2 billion in unclaimed property. Individuals can search by name at illinoistreasurer.gov or 217.785.6998. Because thousands of items are surrendered each year, residents should check every six months.

Treasurer Frerichs’ office never charges money to search or return unclaimed property. Auction proceeds will be held for rightful owners until they are identified.

[Office of the Illinois State Treasurer Michael Frerichs]

About the Illinois Treasurer - The Illinois Treasurer is the state’s Chief Investment Officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans for college or trade school, increasing financial education among all ages, and removing barriers to a secure retirement. As the state’s Chief Investment Officer, he actively manages approximately $25 billion. Currently, the portfolio includes $13 billion in state funds, $7 billion in college savings plans and $5 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of principal and returns $28 to the state for every $1 spent in operations. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.