HARRISBURG, Pa. (WHTM) — The Pennsylvania Treasury’s October unclaimed property auction brought in $204,670 with the sale of about 4,000 unclaimed items, a press release from the Treasury said.
The auctioned items included gold and diamond necklaces, earrings, watches, collectible toys, trading cards, stamps, and rare currency.
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“Our first priority is always to return unclaimed property to its rightful owner,” Treasurer Stacy Garrity said. “However, sometimes it’s necessary to auction items due to space restrictions in our vault.”
Garrity said the proceeds from the auction have been recorded and will be held until the unclaimed items’ owners are found.
The treasury keeps unclaimed property for about three years before it is auctioned, with the exception of military decorations and memorabilia, which are never auctioned and instead held until their veteran owners or the veterans’ family members are located.
“Most of the tangible property that comes to Treasury is from abandoned or forgotten safe deposit boxes,” Garrity said.
According to state law, businesses are required to report items belonging to a known owner after they are unclaimed for three years or items belonging to an unknown owner after they aren’t claimed for one year.
Items that are not sold during the auctions or that aren’t paid for are returned to the Treasury’s vault. The Treasury is currently working to return more than $4 billion in unclaimed property to the correct owners. Search the Treasury’s unclaimed property database here.