Are you a collector? Do you love running across rare items at garage sales, happy in the knowledge that you found something special? Have you watched the TV show “Storage Wars,” and found yourself envious of the people who buy and sell unclaimed property for a living? Well, we found a series of auctions here on eBay you may be interested in knowing about.
Over the course of the next few weeks, the Massachusetts State Treasury department is offering a series of auctions for unclaimed property. We had to wonder what exactly constitutes “unclaimed property,” and looked to the State of Massachusetts for the answer:
“Any financial asset with no activity by its owner for an extended period of time. This includes savings accounts, checking accounts … stocks …safe deposit boxes, and uncashed benefit checks, gift certificates, etc. Unclaimed Property does not pertain to land, houses or real estate of any kind.”
The Massachusetts State Treasury ran this auction very successfully on eBay last year, too (somehow we missed it). We thought that it would be fun to highlight some of the items on offer, should they spark your interest. Perhaps you assume, as we did, that unclaimed property implies unloved property, and that you wouldn’t find yourself tempted to bid on others’ forgotten belongings.
But we were (happily) proven wrong, and found some cool items sure to intrigue some eBay shoppers.
The most expensive item up for auction is this (1) 18K YG COIN BRACELET, 61.6 GRAMS:
Like many of the items up for sale, this one stirs up some questions. First, regarding the bracelet’s worth: There is the value of the gold itself, of course, but are these gold coins also valuable as collectibles? Unlike the price of gold, the current price of $2,425 is holding steady.
This piece is especially interesting, a (1) PLATINUM DIA. SOLITAIRE RING WEIGHING 3.90 GRAMS, EURO CUT,CHIPPED:
Since diamonds are one of the hardest materials in the world, how is it that this one was chipped? While the mind wanders over the possible stories – a jilted lover throwing her engagement ring out the window, for example — the truth is many diamonds have flaws in them that could ultimately result in small chips. The thing to look for, is if the diamond can be re-cut and salvaged. This added step probably explains why the bidding on this ring is relatively low, at least right now.
Finally, we found this intriguing lot of coins, one of many listed. These are for these US TEN CENT SILVER, $27.40 FACE VALUE:
Since their face value is less than $30, and the current high price is $610, there must be something pretty special about these dimes, aside from their being 90 percent silver. We can see a number of Winged Liberty Head dimes scattered in there. If one of them was a 1916D dime, it could be worth anywhere from $1,000 to $14,000! Now that would be quite the unclaimed find.
The title of this auction is “The Thrill of the Hunt,” and there are indeed way too many items to list individually here at eBay Stories. If you want to see what is currently up for sale, take a look at the complete list here. According to the seller, the items up for auction are the contents of safe deposit boxes that have been held in Special Deposit for seven years by various institutions.
We would like to point out, though, that more items are going to be posted daily, with a total of about 2,000 pieces through early December. Included in the auction are more diamond rings, currency of various denominations, and even antiques. You’ll just need to keep checking in to see what treasures you can uncover.
Oh, and if you recognize a piece for auction on eBay as yours (and you were or are a resident of Massachusetts), simply provide proof of ownership and the Massachusetts State Treasury will return the item to you. If the item is already sold, the owner will receive the purchase price.
Good luck, and happy hunting!
Great !
How can a person leave these items without knowing. If they don’t want them let me know, I would like to have them.
yeah, i agree. it makes you wonder, unless someone had somethings of worth in a safety deposit box and died, without any surviving family or friends, HOW COULD YOU POSSIBLY FORGET YOU HAVE TREASURES HIDDEN AWAY?! i just could never figure that one out.
Please notify of new auction.
Never ceases to amaze me when people abandon or forget about their valuables.
If you have a safe deposit box, you should read your contract. It could be that an “extended period of time” is one year. A few years ago I got a “Final Notice” from my bank that my safe deposit box was being turned over to the state. (CA) I never received any notices until that “final” one, despite having three accounts there, they had all my phone numbers, and I used online banking and bill pay with them. When Gray Davis was governor, there was a big picture of him presenting a huge check for hundreds of thousands of dollars to an old woman in a hospital bed. The State had taken her money, somebody found ou about it, and our governor turned it into a photo op to show what a great guy he is. Disgusting. Anyway, put it on your calendar…an annual trip to your safe deposit box.
Please notify me of any new items that come up for auction .
Notify me when new auction
People “abandon” these because they become ill unexpectedly, get killed in accidents, or die without having an opportunity to tell their loved ones about the assets.
Sometimes the bank simply takes things (money, safe-deposit items) if you haven’t been in the bank for a few years.
Many people don’t know this. You can lose your assets through what the bank calls “inactivity.” This is a real problem because if it’s something you’re saving for retirement and retirement is 10 or 20 (or more) years away, you may not have any reason to go to the bank, you simply expect your money or belongings to be safe in the bank until you need them.
It’s quite a shock to people to go there one day and find out the assets were absorbed by the bank, sometimes many years prior.
Sounds like wishful thinking to me or a scam.
Any new auctions are posted every day.
@Joann, Michelle, and Francis: There is no way for me to notify you of new auctions. You will need to bookmark the seller, and keep checking back daily. Thanks!
Love this post! How fun!
Some people die without heirs. And banks that hold safe deposit boxes are required to “escheat” items of value (yes, that includes bank accounts) to the state if they seem abandoned. It’s all done under state law. The try to find the rightful owner and these items are usually listed on websites before it would come down to selling them on EBay. And, by the way, my own grandmother hid her 14k gold/diamond watch in a washcloth at the bottom of her laundry basket. No, she did not live in a bad neighborhood…..
Some banks charge a fee if you don’t take some money out or put some in they call it activity… I had a car loan, savings and checking at the same bank, they started without telling me taking $7.00 a month out. I only had $600.00 in the account saving it for a rainy day so when the statement came I never looked, and one month I looked at the statement lucky it was only the second month that they were taking my money. The bad thing about it was I was in the bank two times a week on business. I said you better put my money back or were going to have big trouble, and they put the $14.00 back. They said it was in the fine print when I opened the account. I said if every one read the fine print you would only open a couple accounts a day. They said that’s why we say take it home and read it — they have a answer for every thing. If I write anymore you’ll have to take this home and read it!
I’m interested, notify me when new auctions
You never know what can happen in your life, which is why you should always make a list of where you keep your treasures and tell someone where it is or put it where it can be found. How many older citizens get dementia or Alzheimer and all they have is lost?
I don’t trust “anyone” with my money especially opportunistic banks.
Buy a fire safe and be the keeper of your own fortunes. You can ignore it, or go into it 100 times a day, no gas is wasted, you don’t have to wait for the banks to open, and you can put various sized items in one safe.
“Finally, we found this intriguing lot of coins, one of many listed. These are for these US TEN CENT SILVER, $27.40 FACE VALUE: Since their face value is less than $30, and the current high price is $610, there must be something pretty special about these dimes, aside from their being 90 percent silver.”
Yeah, it’s the 90% silver thing. Assuming they’re all 90% that means there’s close to $650.00 in silver – the current high is not so remarkable.
I’m DEFINITELY interested!!!!!!!!!!!! please try and notify me if possible…. I have an EBAY account.
One thing to take into consideration with the gold bracelet: if a coin has been altered in any way, that takes away the value. Likely, connecting them to the chain damaged them permanently. They are only worth scrap value once the bracelet breaks.
Go to each states website and search “escheats”. Abandoned money and property should be located there. Laws vary somewhat state to state, but are clear on what you need to do to locate money/property.
I had a safe deposit box in B of W in CA. One day they called me & said I had to come into the bank that day as there was a problem. I went in & was told they had drilled my box open as they thought it was empty. I made the mistake of taking my box into a room to make a fast check of contents. I was in between runs with my limo & did not have time for a thorough check. When I returned later I realized a lot of my very expensive jewelry was missing. I was told that I could have taken them when I went into the room to check my contents, so I had no leg to stand on. I closed all my accounts with them.
M C santa Clara, Ca
e-mail me. I’am ready to rock and roll
e mail me the info and i am ready to rock on and roll
Get me the info I’m ready to go for it.
The state laws dictate what time frame “unclaimed” assets have to be turned over to the state treasury. I have worked for many banks and have personally tried to contact the owners to let them know or contact family members to try to get in contact with the rightful owner of the property. The last thing a bank what’s to do is turn over someone’s money or property over to the state.
Notify me of anything coin-related, especially 1970 and older for auction. I have an ebay account & paypal account that we use regularly. Thx!!
You people who are saying that banks steal the contents of the safe deposit box.
Some people have them and never put a contact person on their box account.
Maybe they are suspicious about anyone stealing their valuables.
Some people put their children’s names on the box which is smart.
Banks want relatives to have the box more than the government.
When you rent a box, ask for written policies.
If you receive policies from the bank in the mail or online read them to see if anything has changed for the safe deposit box. If it has keep it and put it with your policy in a safe place.
I would recommend a folder with your wishes to dispense your valuables to your loved ones in writing, Include someone on the box list.
Sealed envelopes. Place in the folder in a desk drawer that can be easily accessed by your family. Not in the safe deposit box that no one may be on the list.
Oh yeah, I forgot to say, if you know your loved one has a bank account they can check to see if there is a safe deposit box if you bring id’s and a death certificate.
It doesn’t hurt to ask.