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Contents from some unclaimed safe deposit boxes are being auctioned off by the state. Secure Box
Iowa Treasurer Roby Smith said his office's unclaimed property vault is full. According to a news release, to free up space, they're using Lone Star Auctioneers, which specializes in such sales.
The first round of auctions at IowaUnclaimedProperty.org opened late last month and ends June 14. Most auctions feature coins or jewelry, and at least one includes a collection of sports cards and foreign bills.
Smith said his office goes to great lengths to find the rightful owners of abandoned property before any auction.
"While it is heartbreaking to have to auction the cherished contents of these safe deposit boxes, we have tried for years to reunite them with their rightful owner without any success, and we just don’t have the space to continue to hold on to them," he said in the release. "The items in this sale are some that have been held for over 10 years."
“We send out mailings, publish names in newspapers, stay active on social media and participate in events like the Iowa State Fair, to encourage people to search their name. Through these efforts, we find thousands of people each year. If an owner comes forward before the auction, we will return the item rather than sell it.”
Proceeds from the auction go back into the office's budget for the Great Iowa Treasure Hunt, which to date has helped return more than $340 million in unclaimed property.
For more information on unclaimed property and to check to see if you may have unclaimed property, visit GreatIowaTreasureHunt.gov.
"Statistically, one-in-ten Iowans have unclaimed property here at the Statehouse waiting for them," said Russ Trimble, chief of staff at the treasurer's office. "So we tell people if you checked your name last year, check again because there might be something waiting for you this year."
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