Online bidding to take place March 23 & 24
Harrisburg, PA - Treasurer Stacy Garrity today announced that the next auction of unclaimed property items from Treasury’s vault, including an 1882 $50 gold certificate, will take place online over two days: Wednesday, March 23 and Thursday, March 24.
“Our goal is always to return unclaimed property to the rightful owners. But even though we have the largest working vault in the United States, we need to have auctions periodically to make room for incoming items. Every piece of unclaimed property we receive is held for at least three years while we work to connect with the rightful owner. And all auction proceeds will remain available for the owner to claim – whether that happens next month or 50 years from now.”
Pennsylvania State Treasurer, Stacy Garrity
Treasury partners with Pook & Pook, Inc., of Downingtown for appraisal and auctioneer services. Items in this week’s auctions are included in the March 23 coins and jewelry auction and the March 24 decorative arts auction. Auction items can be previewed at pookandpook.com.
Nearly 4,000 items from Treasury’s vault will be available at the two-day auction, some combined into lots of Treasury-only items. In addition to the 1882 gold certificate, items of interest include:
- Rolex 14 karat gold women’s wristwatch;
- An 18-karat gold chain link bracelet;
- An 18 karat gold ram’s head bangle bracelet;
- A one-ounce gold bar; and
- South African Krugerrands.
Treasury receives unclaimed property in accordance with Pennsylvania’s unclaimed property law, which requires that abandoned or forgotten property be turned over to Treasury after three years of dormancy. Most of the tangible property held in Treasury’s vault comes from abandoned safe deposit boxes, with some also arriving from sources such as college dorms, nursing homes, and police evidence rooms. Other unclaimed property can include forgotten bank accounts, uncashed checks, stocks, and insurance policies.
Treasury currently safeguards more than $4 billion in unclaimed property. It’s estimated that one in ten Pennsylvanians has money waiting, and the average value of a claim is $1,500.
Pook & Pook works closely with Treasury to track and document the sales of unclaimed property items to ensure proceeds are available when a claimant comes forward in the future. The upcoming auctions also include items from other consigners and sellers, and Treasury’s items are not separately identified in the auction catalogs. Treasury employees and immediate family members are prohibited from bidding.
For more information about Treasury’s unclaimed property program or to see if you have property waiting to be claimed, visit patreasury.gov/unclaimed-property.
Video Q&A with Treasurer Garrity and B-roll/photos of items being auctioned are available here: https://drive.google.com/drive/folders/13U9IXW0XPW5br3tN8eVYcOM3OobTWb_d
NOTE: An earlier version of this release included a description of an item (a Rolex Oyster watch) which was later determined to not be authentic and has been removed from this auction. The Rolex 14 karat gold women’s wristwatch listed above remains part of this auction.