State Treasurer auctioning unclaimed property worth thousands of dollars
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State Treasurer auctioning unclaimed property worth thousands of dollars

Date: October 3, 2011
By: Stephanie Ebbs
State Capitol Bureau
Links: Items being sold

JEFFERSON CITY - Missouri's treasurer is having a glorified garage sale on Tuesday in Columbia. 

Unclaimed items such as coins, stamps and jewelry will be auctioned off by the state treasurer's office at the annual unclaimed property auction. Notable items this year include a baseball and photograph signed by Ozzie Smith, former Cardinal player inducted to the Baseball Hall of Fame in 2002.

Money collected from auctioning these items will be held in the name of the item's original owner, according to a press release from the treasurer.

"My team will continue working to return money and property to their heirs because I want it all out the door and into the economy," State Treasurer Clint Zweifel said.

Auctions since Zweifel took office have returned $90 million to owners of unclaimed property.

The state constitution requires insurance companies, public agencies and businesses to turn over property to the treasurer if there has been no contact from the client for five years. The $600 million in property maintained by the treasurer includes insurance policy proceeds, unclaimed wages, government refunds, utility deposits, cash, stocks, bonds and the contents of safety deposit boxes sold at auction. 

A list of unclaimed property handled by the state treasurer is available at http://www.treasurer.mo.gov/mainucp.aspx.

Zweifel's said he is expecting 200 to 300 people to attend the auction. Last year's auction brought in $105,000, but Zweifel's said he is expecting more due to the rising price of gold.

Items can be previewed Monday night from 6 to 8 p.m. and Tuesday morning from 7 to 9 a.m. The auction will take place 9 a.m. Tuesday at the Hilton Garden Inn in Columbia.