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State’s Unclaimed Property Auction Underway

Illinois State Capitol

Illinois State Capitol buillding in Springfield (AP Photo)

John Cody John Cody
John Cody is a veteran reporter for Newsradio 780.
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SPRINGFIELD, Ill. (CBS) – If your life lacks a mint sheet of Elvis Presley Stamps, a Davy Crockett Pencil Set or a five pound silver coin, the State of Illinois has the answer with an on-line auction running through Sunday.

Illinois State Treasurer Dan Rutherford says he just had to start cleaning out Springfield vaults filled to the bursting point with unclaimed property — such as abandoned bank accounts and items left abandoned in safe deposit boxes — and decided the online auction would be the way to do it.

LISTEN: WBBM Newsradio’s John Cody reports from the courthouse

He said after four days, the auction has met the $150,000 appraisal value, and he’s sure the value of all 15,000 items will be exceeded when the auction ends Sunday night.

He says Illinois will use interest from auction proceeds to fund state operations, but the principal will be preserved forever against the day rightful claimants step forward.

Among the items up for bid at are baseball cards for Ryne Sandberg and Wade Boggs, a rookie baseball card for Michael Jordan, an $8,000 gold charm bracelet, and gold coins worth an estimated $12,000. Check out the online auction by clicking here.