THE FOLLOWING RELEASE IS FROM STATE TREASURER MICHAEL FRERICHS’ OFFICE
Online Auction Runs March 28-April 6
An 1881 U.S. $10 gold coin, an 18-karat yellow gold chain link bracelet, and a baseball card with a piece of Joe DiMaggio’s bat are among the unclaimed property items being auctioned online from March 28 through April 6.
The spring online auction also includes vintage pocket watches, currency notes from various countries, and 25 1 oz. 999 fine silver rounds.
“Our online auction is open to everyone — not just collectors. It’s a convenient way for people to shop for their personal collection or find a one-of-a-kind gift, like a piece of a Joe DiMaggio baseball bat,” said Illinois State Treasurer Michael Frerichs, whose office oversees unclaimed property in Illinois.
A total of 100 lots will be auctioned, some featuring multiple items. To view auction items, go to the catalog on the HiBid website.
Prospective bidders first must sign up on HiBid and create an account. There are a couple of ways to do this. One is to go to hibid.com/ and click on “Create Account” and fill in your information. Another is to go to the catalog, scroll down, and click on “Register to Bid.” 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 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 16.
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. Visit the I-CASH website at www.illinoistreasurer.gov/ICASH to find out if any missing money is waiting for you.
About the Illinois Treasurer
The Illinois State Treasurer’s Office is a powerful economic engine that invests in people to drive prosperity, development and growth throughout the state. As State Treasurer, Michael Frerichs (FRAIR’iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $60 billion. The investments help families pay for college and trade school; workers save for a dignified retirement; and local governments process bill payments more efficiently so they can pass along the savings to taxpayers. The office provides financial institutions money to loan to farmers, small business owners, and qualified individuals at below-market rates because better jobs create stronger communities. The office operates the state’s largest consumer protection initiative, the unclaimed property I-Cash program, which has returned a record-breaking $2.2 billion since Frerichs was elected.
For more news about the State Treasurer’s Office, please follow Treasurer Frerichs on Instagram at ILTreasurer, LinkedIn and Facebook at Invested in You – Treasurer Michael Frerichs. You can find our weekly newsletter here.
