Goodwill to manage state's unclaimed property auctions

INDIANAPOLIS | Unclaimed property turned over to the Indiana attorney general from forgotten safe deposit boxes and other sources now can be bought through an online auction site run by Goodwill Industries.

Items up for auction this week include historical gold and silver coins and currency, a collection of antique tobacco pipes and an autographed Gerald Ford football card from his days playing at the University of Michigan.

Under state law, the attorney general must hold physical abandoned property for three years, after which he can sell it.

Tangible merchandise makes up less than 1 percent of all unclaimed property, which typically consists of investment proceeds, paychecks and other cash equivalents that were forgotten over the years.

Attorney General Greg Zoeller said he hopes broader exposure for unclaimed items on shopgoodwill.com will raise as much money as possible for the original owners.

If the original owners never claim the proceeds from the property sales, the money reverts to the state after 25 years.

Indiana will pay Goodwill up to $50,000 through the end of the year to produce auction listings, manage sales and ship products to auction winners.