Coins, stamps, and other unclaimed property can’t sit around Dan Rutherford’s office forever. The state treasurer, whose office actually stores these items in a vault, will auction off unclaimed items starting at 10 a.m. Monday and ending at 10 a.m. Friday (Sept. 21). Typically, these items have been in safe deposit boxes whose owners have not been heard from for at least 10 years.
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“Everything from gold coins to jewelry to stamp collections to old $500 Federal Reserve notes” will be up for bid, says Rutherford. Rutherford, who says he can save $27,000 by using the state’s iBid program rather than eBay, says you can see the items and make bids through his office’s web site. No item will sell for less than 75 percent of its appraised value, and the cash will be forever available to the rightful owners of items which sell, should those owners or their heirs surface. While Rutherford and members of his staff are prohibited from participating, the treasurer says he has bought an item through eBay: a painting evocative of the British monarchy. He says the colors fit his home office.