COLUMBIA, MO. -- Bidders got the chance to buy some rare items from Missouri’s largest lost and found.
State Treasurer Clint Zweifel held his first unclaimed property auction since taking office at Columbia’s Stoney Creek Inn.
Unclaimed property is money, stocks and other valuables that have been left in abandoned accounts or safe deposit boxes for five years or more. The items at this year’s unclaimed property auction come from thousands of safe deposit boxes turned over to the Missouri State Treasurer’s Office. No unclaimed property ever becomes property of the State.
“If that safe deposit box belongs to that individual, they still will have unclaimed property that can be claimed," Zweifel said. "It’s just that it will be a cash value instead of the physical asset itself.”
A new state law bans the sale of military medals and other military honors at unclaimed property auctions.
Statistically, 1 in 10 Missourians has unclaimed property. Right now, the State Treasurer’s Office holds more than $600 million worth of unclaimed property. Auctioneers said the most popular valuables are old coins.
“We’ve had a lot of interesting looking broaches and pocket watches and a lot of the old time chain watches have come through the auction today," Auctioneer Jeffrey Johnston said. "The big fire starters really are your coins. They like the standard old coins. They like the Kennedy halves. They like the stuff, especially, out of the Carson Mint or maybe the Denver Mint in the early years.”
Zweifel said he doesn’t know when he’ll have the next unclaimed property auction. That depends on how much unclaimed property his office receives over the next year.
You can click on the link below to see if you or someone you know has unclaimed property.
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