However, physical property taking up space in the state’s vaults is auctioned off and converted to cash when the vault gets full. Wednesday’s auction of 750 abandoned safe deposit boxes raised $285,000, Miller reported Thursday. The safe deposit box contents had accumulated in the treasurer’s vault since the last auction in 2008.
Allen said while employees of the Treasurer’s Office were not allowed to bid on items, the auction was fun to watch.
A box containing gold bullion sold for $8,700, while a Mickey Mantle-autographed baseball went for $400. Six silver bars weighing more than 37 pounds sold for $11,000, and a collection of 67 class rings fetched $19,000.
The auction at Dakil Auctioneers in Oklahoma City lasted almost eight hours, with about 400 people registered to bid, Miller reported.
“We had a very successful auction,” Miller said. “Our focus now returns to reuniting Oklahomans with their lost money.”
This was the fourth auction of unclaimed property since the treasurer’s office assumed administration of the program from the tax commission in 2000. The safe deposit box contents had accumulated in the treasurer’s vault since the last auction in 2008, Miller said.
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