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Illinois State Treasurer Host Online Auction For Unclaimed Property

Illinois State Treasurer Michael Frerichs has announced an exciting opportunity for collectors and enthusiasts, as the Treasurer's Office prepares to auction a diverse number of unclaimed property items online. From November 27 through December 1, a selection of unique treasures, including collectible coins, jewelry, and basketball-related memorabilia, will be up for grabs.


The online auction, hosted on ibid.illinois.gov, has an extensive collection of items, ranging from an American Eagle gold coin proof set to Carson City Morgan silver dollars, a Hamilton 992B 21-jewel pocket watch, and a 1900 Lafayette commemorative dollar coin. Sports fans can also find Michael Jordan comic books and basketball cards featuring NBA legends like Magic Johnson, Larry Bird, and Charles Barkley among the offerings.


With a total of 100 lots to be auctioned, each consisting of a single item or multiple items, Treasurer Frerichs emphasizes the convenience of the online platform, allowing bidders to participate from the comfort of their homes or anywhere they choose. Prospective bidders must register with iBid at ibid.illinois.gov to be eligible for the auction.


The Treasurer's Office, the custodian of unclaimed property such as lost bank accounts, insurance policy proceeds, and safe deposit boxes, conducts online auctions periodically due to space constraints. Items considered for auction typically have not been touched by their owners for a decade. The office also holds an annual, in-person auction during the Illinois State Fair in August.


Highlighting the significance of the initiative, Treasurer Frerichs states that the auction proceeds will be held for the rightful owners, irrespective of the time it takes to locate them. The office aims to return unclaimed property to its owners and encourages Illinois residents to check for any missing funds on the state's unclaimed property website, known as Cash, at www.illinoistreasurer.gov/ICASH. An estimated one in four adults in Illinois discovers missing money when searching the website, with the average claim amounting to $1,000.


For further information and to view the auction items, interested individuals can visit ibid.illinois.gov and follow the instructions under the "Storefronts" tab. Questions about the auction can be directed to 217-557-8567.

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