Prospective Bidders Must Register on iBid
SPRINGFIELD — Collectible currency, coins and jewelry are among the hundreds of unclaimed property items to be auctioned online from January 22 through January 26.
“The online auction features a wide range of distinctive items that will appeal to anyone who is looking to add to a personal collection or anyone searching for the perfect gift,” said Illinois State Treasurer Michael Frerichs, whose office oversees unclaimed property in Illinois. “Because the auction is online, people will not have to contend with the winter weather, allowing them to shop from wherever they choose.” Items to be auctioned include an Illinois Bunn Special 21-jewel pocket watch, a large-size series 1923 $1 “red seal” note, and an 1880-S PCGS MS66 Morgan silver dollar.
Other available items include a 1903 U.S. $10 Liberty Head gold coin, a 1929 U.S. $5 national currency note from the Mutual National Bank of Chicago and various gold jewelry, including cufflinks, necklaces, and rings. 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.” 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.”
The State 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 State 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 State Treasurer’s Office periodically conducts online auctions of unclaimed property 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 each August during the Illinois State Fair in Springfield.
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.
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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 $55 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 missing money I-Cash program, which has returned a record-breaking $1.8 billion since Frerichs was elected.
For more news about the State Treasurer’s Office, please follow Treasurer Frerichs on X (formerly Twitter) at @ILTreasurer, Threads @iltreasurer, Instagram at ILTreasurer, LinkedIn and on Facebook at Invested in You – Treasurer Michael Frerichs.
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