Do you have unclaimed property or money in Pennsylvania? Here's how to find out

ByHeather Grubola and Nydia Han WPVI logo
Tuesday, October 29, 2024
Do you have unclaimed property or money in Pennsylvania? Here's how to find out
Do you have unclaimed property or money in Pennsylvania? Here's how to find out

PENNSYLVANIA (WPVI) -- The largest auction of unclaimed property in the history of the Pennsylvania Treasury begins this Wednesday.

Roughly 5,700 items will be on the auction block online Wednesday through Friday, including everything from coins to collectibles to jewelry.

Some are unique pieces you won't be able to find anywhere else.

"One of my favorite items is like a 14-carat gold pendant that says 'Chief' and it has round cut, brilliant diamonds," said Pennsylvania Treasurer Stacy Garrity. "If she happens to be listening, it would be a great gift for Taylor Swift to give to Travis Kelce."

Other items include a 14-karat gold and platinum ring with two diamonds and a sapphire, an American Eagle gold bullion coin set, and two U.S. $500 bills from 1934.

You can bid online through the auctioneer at Pook and Pook's website.

"So most of our tangible items come from abandoned safe deposit boxes. So after three years of dormancy, financial institutions, businesses, they're required to send their unclaimed property to Treasury," said Garrity.

The Treasury then spends at least three years looking for the owners and if it doesn't have any luck, to make space in its vault, officials hold auctions twice a year.

It then documents the proceeds which remain available for rightful owners to claim at any time.

"One out of 10 Pennsylvanians has unclaimed property, and the average claim is about $1,600. So think about it, we have $4.5 billion of unclaimed property, and so I'm always encouraging people to get their money," said Garrity.

Claiming your unclaimed property is simple. Experts say to go to the Treasury's website, type your name into the search bar, and see if money or valuables are waiting for you.

Nonprofits and businesses should do this, too.

"It depends on the complexity of the claim but a lot of the claims, you get your money back in two weeks. If it's more complicated, it could take a couple of months," Garrity explained.

In the last fiscal year, the Pennsylvania Treasury returned a record $274 million in unclaimed property and over $500 million over two consecutive years.

It's important to note the Treasury never auctions off military decorations or military memorabilia it receives.

Instead, it continues to search for the veteran who earned the item or for that person's family.

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