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State to auction coins, jewelry, collectibles from abandoned safe deposit boxes
06/10/2009
 
For immediate release                                                                             09-17
 
More information:  Patrick Tate – 503-986-5248
                               Julie Curtis – 503-986-5298
 
                                   
Public invited to June 20 event at Parrish Middle School in Salem 
 
"A little bit of everything" is how Patrick Tate, unclaimed property manager at the Department of State Lands (DSL), characterizes the contents of an upcoming public auction. "We’re offering some nice coins and jewelry as well as collectible stamps and sports trading cards."
 
The public oral auction will be held June 20 at Parrish Middle School in Salem, 802 Capitol St. NE, starting at 9:30 a.m. An auction preview is scheduled for Friday, June 19, 1:00 – 4:00 p.m. at Parrish. An additional preview will precede the auction on Saturday, beginning at 8:30 a.m.
 
Every year, DSL receives hundreds of boxes, envelopes and packages containing the contents of abandoned safe deposit boxes. Financial institutions must turn over the contents to the state when owners have not kept up rental payments and when they are not able to be located.
 
Unclaimed property staff looks for owners by posting their names on DSL's searchable database on the Web and by performing some specialized individual searches. Any contents that haven't been claimed within two years are sold at public auction.
 
"Our auctions are very popular and feature fun and interesting items. Last year's January event filled the school cafeteria, with more than 300 people attending," said Tate.
 
All proceeds from safe-deposit box auctions are held in trust in the Common School Fund and made available for claim by rightful owners at any time in the future. The fund sends twice-yearly distributions to all of Oregon's K-12 public schools. In 2008, nearly $55.4 million was sent to Oregon's 197 districts.
 
The June 20 auction will be conducted by Liska Auctioneers. Additional information, including auction catalogs, is available on the DSL Web site – www.oregonstatelands.us – or by calling DSL (503-986-5200) or Liska (1-800-866-8567).
 
The State Land Board consists of Governor Theodore Kulongoski, Secretary of State Kate Brown and State Treasurer Ben Westlund. The Department of State Lands administers diverse natural and fiscal resources. Many of the resources generate revenue for the Common School Fund, such as state-owned rangelands and timberlands, waterway leases, estates for which no will or heirs exist, and unclaimed property. Twice a year, the agency distributes fund investment earnings to support K-12 public schools. The agency also administers Oregon's Removal-Fill Law, which requires people removing or filling certain amounts of material in waters of the state to obtain a permit.
 
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