SPRINGFIELD – Bidders from across the state and country spent more than $117,000 in this past weekend’s live auction at the Illinois State Fair, Illinois State Treasurer Michael Frerichs said today.
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This was the second consecutive year for the live auction at the Illinois State Fair, which had previously taken a 10-year hiatus. Noteworthy items at this year’s auction included a lot with a 1983 Ryne Sandberg baseball card ($450); 1893 Chicago World’s Fair souvenir medallions ($206); Spanish shipwreck coins from the 1622 shipwreck of the Atocha ($2,400); 22K earrings ($7,600); and a Mexican gold coin bracelet ($8,000).
“The live auction was a great success,” Frerichs said. “Collectors got the opportunity to bid on thousands of rare items including jewelry, baseball cards, and coins.”
The Illinois treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, and forgotten safe deposit boxes. Items are surrendered after private entities tried for at least five years to locate the owners. Because thousands of items are surrendered each year, residents should check I-Cash every six months. To find out if you have unclaimed property, visit www.illinoistreasurer.gov/ICASH.
Businesses, non-profits and units of local government also can have unclaimed property to claim from the database. Typically, the value submitted to the treasurer’s office does not reflect an oversight by these leaders. Additionally, each could have unclaimed property it is required to submit to the treasurer’s office annually. This is accomplished through “holder” reports that are available on the treasurer’s website.
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.
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