Missouri State Treasurer Clint Zweifel held his second annual Unclaimed Property Auction today.
By Josh Lander (Columbia, Mo.)
Zweifel said the auction helps take money out of dormant safety deposit boxes, and put it back into the circulation of Missouri’s economy. He says the auction serves other purposes as well.
“I mean first of all they clean out inventory in the safes that’s been there for a really long time, but secondly it also promotes unclaimed property,” he said. “It helps Missourians remember that one in ten Missourians has unclaimed property, the average claim is 300 dollars we have returned 90 million since I took office. So you’re talking about something that touches many, many Missourians.”
The most common items being auctioned are gold, silver and collectible coins. Also included in the mix are signed sports memorabilia, silverware and jewelry.
Since taking office, Zweifel said his office has returned more than $91 million to more than 280,000 account owners.