THE FOLLOWING IS AN ILLINOIS STATE TREASURER’S OFFICE RELEASE
Prospective Bidders Must Register to Participate
SPRINGFIELD – Collectible coins, sports cards and jewelry are among the more than 500 unclaimed property items to be auctioned online from April 3 through April 7.
“The online auction is an excellent and convenient opportunity to shop for collectibles and other memorabilia,” said Illinois State Treasurer Michael Frerichs, whose office oversees unclaimed property in Illinois. “Jewelry, cards, and souvenirs could be a wonderful addition to a personal collection or a unique gift to a friend of relative.”
Items to be auctioned include a 14-karat gold link bracelet, Victorian trade cards and a 1924 Saint‑Gaudens $20 U.S. gold coin. Among the other available items are Beanie Babies stuffed toys, collectible sports items and cards, fine jewelry, coins and currency from the United States and other countries, Elvis Presley memorabilia, comic books and costume jewelry.
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.”
To be eligible to participate in the auction, prospective bidders must register with iBid if they have not 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.
The treasurer’s office is the custodian of unclaimed property, including lost bank accounts, insurance policy proceeds, unpaid rebate cards, and 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 forever. The office also conducts an annual, in-person auction of unclaimed property during the Illinois State Fair in August.
An estimated one-in-four adults in Illinois who search the state’s unclaimed property website, also known as iCash, find unclaimed property that should be returned to them. The average claim is $1,000. Visit the iCash website at www.illinoistreasurer.gov/ICASH to find out if any unclaimed property is waiting for you.
About the Illinois Treasurer
As Illinois State Treasurer, Michael Frerichs (FRAIR’-iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $52 billion. The portfolio includes $26 billion in state funds, $17 billion in retirement and college savings plans and $9 billion on behalf of local and state governments. Frerichs’ office protects consumers by safeguarding more than $3.5 billion in unclaimed property, encouraging savings plans for college or trade school, increasing financial education among all ages, assisting people with disabilities to save without losing government benefits, and removing barriers to a secure retirement. The Treasurer’s Office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.
