The Pennsylvania Treasury collects over $200 million of unclaimed funds from residents of Pennsylvania every year, and most people don't even know they have something waiting for them!
Now for the first time in more than a decade, the Treasury will be sending many of those items to live auction in Lancaster County.
"Let's auction off this treasure trove of invaluable objects,” PA State Treasurer Rob McCord explained. “People tend not to leave cheap stuff in their safety deposit boxes."
Since the 1940's the state has been collecting unclaimed funds belonging to residents of Pennsylvania. The state then makes an ongoing effort to return that property to the rightful owner.
"We owe it to the rightful owners to do our best to get it back into their hands, but after a certain number of years, in this case sometimes it's a decade or two, you say the rightful owner isn't coming forward," McCord continued.
That's when the items are sent to auction. The Treasury uses eBay to auction off the items, but now for the first time in more than a decade, many items will go to live auction.
The auction house that was chosen after a competitive bid was Morphy Auctions out of Lancaster County.
"I was delighted because it is right in Lancaster and it's great because it's a Pennsylvania-based company and it's a chance to advertise again, another world class company in Pennsylvania," McCord exclaimed.
The money made in the auction is kept for the rightful owner when they come forward, but in the meantime is used to fund the Treasury.
"They will generate the most revenues for us and do the best job of featuring these amazing products," McCord told CBS 21.
Antiques, jewelry, musical instruments, and over 1500 watches will be some of the featured items.
"They figured out items that were worth more than $300 including things like historic documents, some signed by Ben Franklin," McCord demonstrated.
If you want to see if you have unclaimed treasures, it's as simple as going online and searching your name.
"The McCord Treasury team wants everybody to click onto PATreasury.gov and to click onto unclaimed property!" McCord concluded.
Now for the first time in more than a decade, the Treasury will be sending many of those items to live auction in Lancaster County.
"Let's auction off this treasure trove of invaluable objects,” PA State Treasurer Rob McCord explained. “People tend not to leave cheap stuff in their safety deposit boxes."
Since the 1940's the state has been collecting unclaimed funds belonging to residents of Pennsylvania. The state then makes an ongoing effort to return that property to the rightful owner.
"We owe it to the rightful owners to do our best to get it back into their hands, but after a certain number of years, in this case sometimes it's a decade or two, you say the rightful owner isn't coming forward," McCord continued.
That's when the items are sent to auction. The Treasury uses eBay to auction off the items, but now for the first time in more than a decade, many items will go to live auction.
The auction house that was chosen after a competitive bid was Morphy Auctions out of Lancaster County.
"I was delighted because it is right in Lancaster and it's great because it's a Pennsylvania-based company and it's a chance to advertise again, another world class company in Pennsylvania," McCord exclaimed.
The money made in the auction is kept for the rightful owner when they come forward, but in the meantime is used to fund the Treasury.
"They will generate the most revenues for us and do the best job of featuring these amazing products," McCord told CBS 21.
Antiques, jewelry, musical instruments, and over 1500 watches will be some of the featured items.
"They figured out items that were worth more than $300 including things like historic documents, some signed by Ben Franklin," McCord demonstrated.
If you want to see if you have unclaimed treasures, it's as simple as going online and searching your name.
"The McCord Treasury team wants everybody to click onto PATreasury.gov and to click onto unclaimed property!" McCord concluded.