SPRINGFIELD, IL (Chambana Today) – One person’s missing treasure could become yours next week.
A 14-karat gold charm bracelet with eight charms, a 1783 Spanish Milled Dollar encased with a certificate, and a 1997 U.S. quarter-ounce platinum proof coin are just a few of the hundreds of unclaimed property items set to be auctioned online from June 17 through June 21.
The online auction offers a convenient way for people to shop from anywhere and find a variety of distinctive items they can add to a personal collection or give as the perfect gift, said State Treasurer Michael Frerichs in a press release, whose office oversees unclaimed property in Illinois.
What’s Up for Grabs?
Items to be auctioned include jewelry, coins, and currency. Additional examples of available items are a 2001 American Buffalo proof and uncirculated silver dollars, and five-series 1928 $5 redeemable-in-gold notes in consecutive order.
A total of 100 lots will be auctioned, with each lot consisting of a single item or multiple items. To view auction items, go to ibid.illinois.gov and select the tab labeled “Storefronts.” Scroll down to the Illinois State Treasurer Unclaimed Property Auction, select it and then click on the tab labeled “Upcoming Store Items.”
How to Participate
To be eligible to participate in the auction, prospective bidders must register with iBid if they haven’t previously done so. The registration process is simple: Go to ibid.illinois.gov and select the tab labeled “Register now.” For questions, call 217.557.8567.
Why These Auctions Matter
The Treasurer’s Office is the custodian of unclaimed property, including lost bank accounts, insurance policy proceeds, unpaid rebate cards, and the contents of safe deposit boxes. Items are surrendered to the Treasurer’s Office after private entities have tried for several years to locate the owner. Items considered for auction typically have not been touched by their owners for 10 years. All auction proceeds will be held for the rightful owners, no matter how long it takes.
The Treasurer’s Office conducts online auctions of unclaimed property periodically throughout the year because it does not have the physical space to store the items indefinitely. The office also conducts an annual, in-person auction of unclaimed property during the Illinois State Fair in August. This year’s auction at the State Fair is scheduled for Saturday, August 17.
Find Your Missing Money
An estimated one-in-four adults in Illinois who search the state’s unclaimed property website, also known as I-Cash, find missing money that should be returned to them. The average claim is $1,000. Visit the I-Cash website at illinoistreasurer.gov/ICASH to find out if any missing money is waiting for you.