PENNSYLVANIA — The Pennsylvania Treasury has made history with its fall unclaimed property auction, raising a record-breaking sum of more than $298,000. The announcement comes from Treasurer Stacy Garrity, who emphasized that all proceeds from the event are meticulously recorded and will remain available for rightful owners to claim, regardless of time passed.
The auction, which took place on October 25 and 26, 2023, saw over 4,200 items sold in partnership with Pook & Pook, Inc., a renowned Downingtown auctioneer and appraisal service. “This was another tremendously successful collaboration with the Pennsylvania Treasury,” said President of Pook & Pook Deidre Pook Magarelli. She commended the Treasury’s efforts in reuniting unclaimed property with original owners and ensuring monetary compensation is available when reunification is not possible.
The star attraction at the auction was a collection of 25 early baseball tobacco cards, including ones of Cy Young and Pennsylvania’s own Christy Mathewson, fetching a whopping $27,000. Other high-ticket sales included a US Proof Set of collectible coins sold for $7,500, two platinum and diamond engagement rings each sold for $6,500, a 14K white gold ring with a 3.6 carat pear-shaped diamond sold for $4,400, Vietnamese gold bars sold for $2,200, and a $20 Gold St. Gaudens Double Eagle coin sold for $1,800.
After accounting for Pook & Pook’s 12 percent commission, the Treasury expects to net $298,029.60 from the auction, exceeding high estimates by over $60,000. Unsold items or those not paid for by winning bidders will be returned to the Treasury for future auctions.
The Pennsylvania Treasury works diligently to reunite unclaimed property with rightful owners. Property that remains dormant for three years is turned over to the Treasury by businesses, and tangible property, often the contents of forgotten safe deposit boxes, is stored in the Treasury’s vault for an additional three years while attempts are made to locate the owners.
Currently, more than $4.5 billion in unclaimed property is available to be claimed, with more than one in ten Pennsylvanians owed unclaimed property. The average claim is worth about $1,600, which could be a significant windfall for those unaware of their unclaimed assets.
To learn more about unclaimed property or to search the Treasury’s database, visit the official Unclaimed Property webpage.
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