State Treasurer Spellerberg Announces Results of Unclaimed Property Auction

The state’s recent auction of items from abandoned safe deposit boxes was a success, according to State Treasurer Joey Spellerberg. Strong bidding during the Oct. 6-14 online auction resulted in gross proceeds of $57,305. This total was $20,331 above the appraised value of all the items up for bid.

While the physical items have been sold, the money raised does not simply become state revenue. The proceeds have been recorded in the original owner’s name and are being held for that person or their rightful heirs. If an owner or heir comes forward, regardless of how far into the future, the money from the sale will be available. The money can be claimed at NebraskaLostCash.gov.

This was the first unclaimed property auction held by the State Treasurer’s Office since 2017. Over the past nine years, Unclaimed Property Division staff have not only encouraged Nebraskans to search NebraskaLostCash.gov but also attempted to locate the original owners of these lost items. These efforts included sending letters to owners whose addresses were available, as well as running statewide newspaper and radio ads.

“This auction was a success,” Spellerberg said. “The abandoned items can be appreciated again, while our team locked in the proceeds for the rightful owners or their heirs. I appreciate the hard work and dedication of our Unclaimed Property team, which made this auction possible.”

Several lots sold for nearly double the appraised value, and multiple items garnered more than two dozen bids. A white gold ring with a two-carat diamond sold for $15,307 — the highest bid of the auction. A 14-karat gold mesh purse yielded a winning bid of $10,307.

The auctioned items were received by the State Treasurer’s Office more than a decade ago. Employees of the Treasurer’s Office and their immediate families were not eligible to bid. The auction was managed by J&J Coins and Collectables, while the auctioned items were inspected and appraised by Tom Bassett of Lincoln, an independent appraiser.

Under state law, Nebraska’s Unclaimed Property Division, overseen by the State Treasurer, holds unclaimed property as a consumer protection measure until the rightful owners or their heirs claim it. Unclaimed property includes dormant bank accounts, uncashed checks, unpaid wages, stocks, and life insurance proceeds. Contents of safe deposit boxes are the only physical property received by the Division.

“Since Nebraska’s unclaimed property law was implemented in the late 1960s, the State of Nebraska has returned approximately $320 million to rightful owners,” Spellerberg said. “One in five Nebraskans has unclaimed property, with money waiting to be claimed in all 93 Nebraska counties.”

Year to date, Nebraska’s Unclaimed Property Division has:

• returned approximately $18.4 million;
• paid approximately 16,000 claims; and
• averaged more than $1,000 per paid claim.

Spellerberg said, “I’m encouraging Nebraskans to regularly visit NebraskaLostCash.gov. Searching online is easy, free, and secure. If there’s a match, you can begin the claim process online.”

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About the State Treasurer’s Office: The Nebraska State Treasurer serves as the state’s chief financial officer and is responsible for the safekeeping and management of Nebraska’s public funds. The office administers the Nebraska Educational Savings Trust (NEST 529) and the Enable Savings Plan; returns unclaimed property; collects and disburses child support payments; promotes transparency in state spending; and advances financial literacy. Learn more at treasurer.nebraska.gov or follow the Nebraska State Treasurer’s Office on Facebook, LinkedIn, and X.