State Puts Contents Of Safe Deposit Boxes On eBay
Arizona Coin Collector
http://cbs2chicago.com/local/safe.deposit.box.2.866550.html
CBS Channel Two Chicago
State Puts Contents Of Safe Deposit Boxes On eBay
Nov 17, 2008 5:37 pm US/Central
CHICAGO (CBS) ? Some one-of-a kind items are
heading to the auction block just in time for
the holidays. Everything from rare coins to
gold and silver jewelry is up for grabs, and
as CBS 2's Mai Martinez reports the seller is
none other than the state of Illinois.
These are just a few of the items the state of
Illinois is auctioning off as part of its
special "Silver and Gold holiday eBay auction."
All the items come from safe deposit boxes
which have been abandoned by their owners
for at least 10 years. State Treasurer Alexi
Giannoulias says there's something for everyone.
"We've got some great rare gold coins. We also
have some very rare jewelry, so anywhere from
people who just want to look for a bargain on
a gift to people who are genuine collectors,"
Giannoulias said.
Giannoulias says the money raised from the
auctioned items is used to pay down the state's
underfunded pension liability. So far, the
auctions have generated more than a quarter
million dollars for the state. Still, some
Illinoisans say they don't like the idea.
"If the state has to depend on auctioning
off people's jewelry and belongings to fill
the pension fund, I think the state is in
bad shape," said Chicago resident Larry
Williamson.
But others say keep the auctions coming.
"I would much rather them eBay the jewelry
off, so that it doesn't come out of my tax
that I work for everyday," said Chicago
resident Markeita Morris.
"Oh, those are some nice items. I like
those bangles," said Chicago resident
Tanya Johnson.
Besides the jewelry and coins, and other
valuables, Giannoulias says sometimes they
find other items which can't be
auctioned off.
"We've had everything from false teeth. We
had an urn where we had someone's ashes,
which is kind of a scary thought,"
Giannoulias said.
Items which cannot be sold are either
destroyed or stored in a state vault
until they are claimed. All others are put
on the auction block until they're going,
going, gone.
The state's holiday eBay auction doesn't
start until November 23, but there are
already hundreds of items up for bid on
eBay from previous state auctions.
----------------------------------------
Illinois State Treasurer's Unclaimed
Property Division Sprinfield.
http://stores.ebay.com/IL-Treasurers-Unclaimed-Property
----------------------------------------
FROM:
http://www.treasurer.il.gov/programs/cash-dash/auctions.aspx
Each year, the Illinois State Treasurer's Office
receives the contents of safe deposit boxes from
banks and other financial institutions. The
contents have been abandoned for at least
five years.
The names of the contents' owners are published
in local newspapers, and the contents are stored
in the state's vault for at least four years.
If the owners or their heirs do not come forward
to claim the contents, the Treasurer's Office
holds an auction of the contents.
The property is sold on eBay and the proceeds
are held for the rightful owners or heirs.
Properties to be auctioned include jewelry,
coins, stamps and many miscellaneous and
collectible items. New items are added each
week. Items that are underbid are sold on our
eBay store page for a set price.
..
Duh_OZ
wrote:
> FROM:http://cbs2chicago.com/local/safe.deposit.box.2.866550.html
>
> CBS Channel Two Chicago
>
> State Puts Contents Of Safe Deposit Boxes On eBay
>
==========
Am I missing something?
A lot consisting of 3, 1980 proof sets is currently bid at $76 ($25.33
each).
Isn't that a little high?
eBay link: http://tinyurl.com/5k79cm
Duh_OZ
in inflated prices). I would definitely bid elsewhere for some of
those coins. Some descriptions could use some proof reading. A
lot(as in a single lot) of uncirculated coins are listed as
circulated. Huh??