An Ernie Banks rookie card, an 1856 flying eagle cent, and an Elvis Presley concert ticket stub are some of the 21,500 unclaimed property items worth $167,000 to be auctioned live on August 20 on the Ethnic Village Stage at the Illinois State Fair in Springfield.
“For the first time in 10 years, the treasurer’s office is hosting a live unclaimed property auction at the Illinois State Fair to give collectors a rare opportunity to bid on items in person,” Treasurer Frerichs said. “Collectors can also take advantage of seeing the items in advance at our auction preview events in Chicago and Springfield.”
Additional live auction items include a one-thousand dollar bill, a Patek Philippe-Cartier men’s watch, a new pair of 1997 Air Jordan XII basketball shoes, a Series 1891 Ten Dollar “Tombstone” Silver Certificate, a 1893 Bronze Ten Dollar Pattern Coin, and a 22KT 4.36 oz gold bar. The live auction will include 255 lots. Auction items have been appraised by an outside vendor. Luke Lee Gaule will serve as auctioneer for the live auction on August 20 at the Illinois State Fairgrounds.
The treasurer’s office works hard to return valuables to their rightful owners. After 10 years of private and public attempts to locate the owners of unclaimed property, the unclaimed items are put up for auction.
So far this year, the treasurer’s office has held three online unclaimed property auctions. The last live unclaimed property auction was held in 2006.
Collectors will have two opportunities to preview the live auction items. All auction items will be on display at the Springfield event. Select auction items will be on display in Chicago.
Live Auction Previews
August 2, 2016 August 5, 2016
Illinois State Capitol (Rotunda) James R. Thompson Center (Atrium)
401 S. 2nd Street 100 W. Randolph Street
Springfield, IL Chicago, IL
10 a.m. – 3 p.m. 11 a.m. – 2 p.m.
August 20, 2016
Illinois State Fairgrounds
(Ethic Village Stage)
Preview: 8 a.m. – Noon
Winning bidders must submit payment on the day of the auction using a major credit card or cash. No checks will be accepted.
For more information about the live auction, call 217.557.8567. Collectors may also view items online by clicking the auction link under the Resource Center at www.illinoistreasurer.gov.
The treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, unpaid rebate cards, and safe deposit boxes. Items are surrendered to the treasurer’s office after private entities have tried for at least five years to locate the owner. All auction proceeds will be held for the rightful owners in perpetuity.
Because thousands of items are surrendered each year, residents should check I-Cash every six months. Visit www.illinoistreasurer.gov or call 217.785.6998. Treasurer Frerichs’ office never charges money to search or return unclaimed property.
About the Illinois Treasurer
The Illinois Treasurer is the state’s chief investment officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans for college or trade school, increasing financial education among all ages, and removing barriers to a secure retirement. As the state’s chief investment officer, he actively manages approximately $25 billion. The portfolio includes $13 billion in state funds, $7 billion in college savings plans and $5 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of capital and returns $28 to the state for every $1 spent in operations. The treasurer’s office predates Illinois incorporation in 1818. Voters in 1848 chose to make it an elected office.