Illinois State Treasurer Michael Frerichs Kicks Off 2022 Holiday Season with Online Auction of Unclaimed Property

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THE FOLLOWING IS AN ILLINOIS STATE TREASURER’S OFFICE RELEASE

 

Virtual Event Scheduled for December 5-9

 

SPRINGFIELD – Jewelry, collectible coins, sports memorabilia and historic souvenirs are among the more than 450 unclaimed property items to be auctioned online from December 5 through December 9.

“Our online auction is a wonderful opportunity to discover rare and memorable finds, either for yourself or for that special someone who will appreciate them as gifts,” said Illinois State Treasurer Michael Frerichs, whose office oversees unclaimed property in Illinois. “You won’t even need to leave the comfort of your own home to participate in the auction.”

Items to be auctioned include collectible, .999 fine silver coins commemorating important milestones for two Disney characters: Mickey Mouse’s 60th anniversary and Snow White’s 50th anniversary. Among the other items for auction are watches, rings and necklaces; an 1899 U.S. $20 Liberty Head gold coin; a .999 fine silver Michael Jordan basketball card and a .999 fine silver commemorative coin bearing his image; and tickets and other items from the 1893 World’s Columbian Exposition in Chicago and the 1934 Chicago World’s Fair.

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.”

Bidders must register with iBid to be eligible to participate in the auction. To register, 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

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.

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November 29, 2022 at 09:16PM

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