Prospective Bidders Must Register on iBid
SPRINGFIELD — A 14-karat gold charm bracelet with eight charms, a 1783 Spanish Milled Dollar encased with certificate, and a 1997 U.S. quarter-ounce platinum proof coin are among the hundreds of unclaimed property items 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, whose office oversees unclaimed property in Illinois.
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 5-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.” To be eligible to participate in the auction, prospective bidders must register with iBid if they haven’t previously done so. T he 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 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. Th is year’s auction at the State Fair is scheduled for Saturday, August 17.
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 $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 missing money I-Cash program, which has returned a record-breaking nearly $2 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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