The Edmond Sun

State News

December 20, 2013

Unclaimed property auction raises $285,000

OKLA. CITY — This week’s auction of the contents of some 750 abandoned safe deposit boxes raised more than $285,000, State Treasurer Ken Miller said. The auction was held to make room in the treasurer’s vault for storage of more unclaimed property. The money raised will be held in trust for the owners or their heirs.

A box containing gold bullion sold for $8,700, while a Mickey Mantle-autographed baseball went for $400. Six silver bars weighing more than 37 pounds sold for $11,000, and a collection of 67 class rings fetched $19,000.

The auction at Dakil Auctioneers in Oklahoma City lasted almost eight hours with about 400 people registered to bid.

“We had a very successful auction,” Miller said. “Our focus now returns to reuniting Oklahomans with their lost money. We’re holding more than $500 million for one-in-four Oklahomans and we’d like to get it back to the rightful owners.”

This was the fourth auction of unclaimed property since the treasurer’s office assumed administration of the program from the tax commission in 2000. The auction raised substantially more money than the previous three combined, which generated a total of about $175,000.

The safe deposit box contents had accumulated in the treasurer’s vault since the last auction in 2008. The contents are brought to the treasurer’s office by Oklahoma banks after five years of lost contact with the owners.

In addition to safe deposit box contents, unclaimed property includes old bank accounts, utility deposits, stock and bonds.

, royalties and the list goes on.

The names and last known addresses of the owners are published in state newspapers and can be found on the treasurer’s official unclaimed property website at www.yourmoney.ok.gov. In the past two years, record high amounts of unclaimed property have been returned to their owners.

 

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