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Illinois Treasurer Rutherford to hold unclaimed property auction

Published: Wednesday, July 3, 2013 3:03 p.m. CDT • Updated: Wednesday, July 3, 2013 3:04 p.m. CDT

SPRINGFIELD – A United States Olympic coin set, a lot of Liberty Head gold pieces, and a Martha Washington one dollar note from 1886 are just some of the items that Illinois State Treasurer Dan Rutherford is offering in the next Illinois Treasurer’s Online Unclaimed Property Auction. It starts at 10 a.m. on Monday and will begin closing at 10 a.m. on July 12. If you are interested in seeing the items up for bid, go to the treasurer’s office’s website at www.treasurer.il.gov and click on the auction preview button.

“We are auctioning off 25,672 pieces of unclaimed property in the Illinois Treasurer’s Online Unclaimed Property Auction because the rightful owners have not come forward to claim the items in more than five years,” said Rutherford. “We are exclusively focusing on coins to sell in this auction. Coin collectors throughout the state will want to make sure to put this on their calendar.”

All items for sale in this auction have been appraised by an outside vendor. The sale price of each lot must reach at least 75 percent of the appraised value.

Buyers are responsible for purchasing their auction winnings with either Visa or MasterCard (other arrangements will be available for purchases over $10,000). In addition, a 2 percent administrative fee will be assessed. Buyers are also required to pay for shipping through the preferred list of vendors.

If you would like to participate in the upcoming 2013 Illinois Treasurer’s Online Unclaimed Property Auction, visit www.treasurer.il.gov and follow the link to the auction. One must register to become an active bidder. For questions about registration, contact 217-785-6998.

IBid (http://ibid.illinois.gov), the state’s online surplus property auction system, was created in 2003 by the Illinois Department of Central Management Services’ State Surplus Property Division. Property and equipment no longer needed by state of Illinois and registered local governments is placed on iBid for sale to the highest bidder. Each week, surplus equipment such as vehicles, office furniture, outdoor equipment, tools, machine shop equipment, electronics, and much more is offered weekly to more than 13,500 registered bidders.

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