PA (WPVI) — The largest unclaimed property auction in Pennsylvania Treasury history begins this Wednesday.
From Wednesday through Friday, approximately 5,700 items will be on the online auction block, ranging from coins to collectibles and jewelry.
We also have unique pieces that you won’t find anywhere else.
“One of my favorite items is a 14-karat gold pendant that says ‘Chief’ and has a sparkling round diamond,” said Stacey Garrity, Pennsylvania State Treasurer. said. “It would be a great gift from Taylor Swift to Travis Kelce if she listened.”
Other items include a 14-karat gold and platinum ring with two diamonds and a sapphire, an American Eagle gold bullion coin set, and two 1934 $500 bills.
You can bid online through the auctioneer on the Pook and Pook website.
“This means that most of our tangible goods come from abandoned safe deposit boxes. Therefore, financial institutions and businesses are required to send unclaimed property to the Treasury after a three-year dormant period. There is,” Garrity said.
The Treasury Department then spends at least three years trying to find an owner, and if you’re unlucky, authorities hold auctions twice a year to free up space in the vault.
We then document any remaining proceeds so that the rightful owner can claim them at any time.
“One in 10 Pennsylvanians has unclaimed property, and the average claim amount is about $1,600. Think about it: We have $4.5 billion in unclaimed property. I always encourage people to take the money,” Garrity said.
Claiming unclaimed property is easy. Experts say visit the Treasury Department’s website and enter your name in the search bar to see if cash or valuables are waiting for you.
Nonprofits and businesses should do this too.
“Many claims will be refunded within two weeks, depending on the complexity of the claim. More complex cases may take several months,” Garrity explained.
Last fiscal year, the Pennsylvania Treasury returned a record $274 million in unclaimed property, marking the second year in a row that more than $500 million has been returned.
It is important to note that the Treasury never auctions military decorations or military memorabilia received.
Instead, we continue to search for the veteran or family member of the person who acquired the item.
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