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Arizona to auction off gold, other unclaimed property online

(Arizona Department of Revenue Photo)

PHOENIX — Unclaimed property from abandoned safe deposit boxes will go up for bid in the Arizona Department of Revenue’s online auction next week.

The public auction will include a variety of items that have not been claimed for years, such as gold jewelry, antique goblets, antique pocket watches, postage stamps, gold bars, silver coins, Native American jewelry, a Royal Danish flatware set and more unique, collectible items.

Online bidding runs from 5 p.m. on Dec. 10 to 5 p.m. on Dec. 14.

The state takes charge of the boxes after three years of nonpayment by the owners, according to the department’s website.

The revenue department then sells the contents if the boxes go unclaimed. Proceeds from the auction are placed into custodial accounts for the owners of the property that was sold.

The safe deposit box sales make up a portion of the state’s unclaimed property pool, which currently totals more than $1.5 billion.

Businesses and individuals can go online to find out if the state has any assets in their names.

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