More than $208,000 in proceeds will be held in perpetuity for rightful owners to claim
Harrisburg, PA - Treasurer Stacy Garrity announced today that Treasury’s most recent unclaimed property auction brought in more than $208,000. The online auction of nearly 3,800 items took place in October.
“These auctions highlight Treasury’s unclaimed property program and encourage more people to search for what is rightfully theirs. They’re also necessary to make room in our vault for incoming inventory. I’m glad to safeguard these items before they hit the auction block, and Treasury will hold the proceeds in perpetuity, waiting for the rightful owner to come forward. I encourage everyone to search our website for themselves and their loved ones who may be owed unclaimed property.”
Pennsylvania State Treasurer, Stacy Garrity
Pook & Pook Inc. of Downingtown partnered with Treasury for appraisal and auctioneer services. Included in October’s auction sales were multiple 1 ozt. gold South African Krugerrands; three U.S. $500 notes featuring President William McKinley; a 14K gold, diamond and gemstone bracelet; a 10K gold necklace with a 14K University of North Carolina diamond-studded pendant; an Omega 18K gold wristwatch; and a custom Breitling stainless steel and black diamond wristwatch.
“Pook & Pook was thrilled again to work with the Unclaimed Property division of the Pennsylvania Treasury Department to sell thousands of pieces of property at auction. The exhibition and the auction were very well attended, and we look forward to working with the state again in spring 2023.”
Deirdre Pook Magarelli, President of Pook & Pook Inc
The two-day auction brought in $237,043 from 3,798 items. Pook & Pook receives a 12 percent commission of auction sales. Treasury’s net proceeds will be $208,597.84 once all payments are received. Any items not sold will be relisted in future auctions.
Unclaimed property comes to Treasury in accordance with state law that requires businesses to report such property after three years of dormancy. Unclaimed property can include dormant bank accounts, uncashed checks, insurance policies, tangible property and more. Tangible items are held for at least three years before they are auctioned. Military decorations are never auctioned.
There is currently more than $4 billion in unclaimed property waiting to be claimed. One in ten Pennsylvanians is owed unclaimed property, and the average claim is worth about $1,500.
To learn more about unclaimed property or to search Treasury’s database, visit patreasury.gov/unclaimed-property.