The State of Ohio is holding an auction this Friday and Saturday to sell the contents of abandoned safe deposit boxes to make room for additional items in the Unclaimed Funds department. The items include Kruggerands, silver bars, coins, and currency. This is the first auction of this type since 1998. The state has had some of the items in its possession since 1968.
A few brief points:
1. Some of the abandoned boxes belonged to decedents. I always advise my clients to notify their executors of the location of any safe deposit boxes to prevent them being lost.
2. The State of Ohio currently has $2.3 billion in unclaimed funds it is holding for their rightful owners. Those funds can be claimed by completing a form on the Ohio Department of Commerce website.
3. Almost 50 years since the state found some of these items? The wheels of bureaucracy grind slowly.
Photo Credit: Joshua A. Bickel/Columbus Dispatch
License: Fair Use/Education