By Patrick Johnson, The RepublicanApril 22, 2010, 8:11PM
April 22, 2010 – Springfield – Republican staff photo by Michael S. Gordon – Items on display that will be auctioned on eBay this weekend. The unclaimed merchandise includes paper currency and coins.
SPRINGFIELD – James F. Roy knows exactly what he would like to bid on in upcoming on-line auction of abandoned properties by the the state treasurer’s office.
Standing by a case of old coins, watches, jewelry and old currency, Roy pointed out what looked like a beat-up quarter with a hole in it, but was actually a George Washington funeral medal issued by the Boston Masonic Lodge upon the first president’s death in 1799.
April 22, 2010 – Springfield – Republican staff photo by Michael S. Gordon -Unclaimed merchandise turned over to the state by various banks includes this Beatles watch.“Within the last 5 years, a gold version sold for $230,000. This version is silver but it’s still such a historical and rare item that it will probably fetch a quite a bit of money,” he said.
Roy would like to bid on the medal, but can’t. As tangible property
manager for the state treasurer’s office, Roy is not permitted to bid on anything in the auction, which opens on noon Saturday through the online auction site eBay.
“I would probably be outbid,” he shrugged.
From Saturday through July 1, the state hopes to auction off 2,500 lots of abandoned property, ranging in value from a few cents to as much as $70,000.
“This is our sixth auction. It’s the largest one the state has ever had,” he said.
In advance of the auction, Roy and officials with the abandoned property division had several cases on display in the lobby of the Western Massachusetts State Office Building, 436 State St, as part of a one-day stopover.
Under the watchful eyes of two state troopers, members of the public could look over the several cases of rare coins and paper money, jewelry, watches, and assorted knickknacks that will be put up for auction.
One case on display Thursday contained about $250,000 in gold and diamonds, and officials were hoping it would being in twice that at auction, he said.
The items up for auction are all unclaimed property found in safe deposit boxes that has been turned over to the state by various banks.
When the rent on a safe deposit box lapses, the banks will open the lock and seek to return the item to the rightful owner. If the owner cannot be found, the property is turned over to the state treasurer’s office, which takes over the search, he said.
“Our job is to reunite the owner with the property,” Roy said. “When we are unsuccessful and we have too much property, we hold liquidation auctions.”
Gilbert May of Springfield, who works in the building, stopped by to check out the cases.
“I’m just browsing,” he said.
May, who said he has an interest in old pocket watches, said he liked the range of watches on display in the case.
“They have a collection of unusual watches,” he said. “I’m not sure how much they are worth.”
Lisa Abderhalden of Lee stopped in with her husband to get a first-hand look at what was available.
“We got a notification from our auction alert — we go to a lot of auctions. I thought they’d have pretty good things.
“I like the gold, of course. Most people do. My husband likes the pocket watches,” she said.
The object that caught her eye was a gold charm bracelet with 32 individual charms including representatives of the Arc de Triumph and the Eiffel Tower.
“I’m always looking for charm bracelets,” she said
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