Francy Ronayne
617-367-6900 

TIMOTHY CAHILL

TREASURER

“By holding the auction on eBay, we’re continuing to take advantage of a technological partnership that has proven to be successful in bringing in proceeds for Massachusetts,” said State Treasurer Cahill. “Whether you buy a gift or something for yourself on our eBay Auction, you will be making a unique purchase and helping the Commonwealth.”

Items available for auction include gold and silver, rare currency including coins and paper money from around the world and jewelry, including rings, pendants, gemstones, pocket watches and wristwatches.

In November 2005, the Treasury held its first online auction with 200 lots.  The most expensive lot, a solid platinum bar, sold for more than $45,000.  The second online auction was held in May 2006.  The third online auction was held in June of 2007; in total, the Treasury has garnered approximately $400,000 for the Commonwealth from its eBay partnership.

According to the Massachusetts law, most financial assets that have been inactive for more than three years are declared “abandoned” and turned over to the Treasury.  Contents of safe deposit boxes are held in “Special Deposit” for seven years after the owner fails to pay the annual rental fee.  The assets are then turned over to the Treasury. " If the owner is not located within one year after transfer to the Treasury, the assets are appraised and put up for public auction, with the proceeds going to the state’s General Fund.

The Treasury attempts to locate abandoned property owners or their heirs through an aggressive outreach program that includes sending notice to the last known address of the box owner and advertising the names in local papers.  Since Treasurer Cahill took office, the Abandoned Property Division has returned over $256.6 million to rightful owners.

“One in every ten people has unclaimed property in Massachusetts, and we haveover $1 billion in assets waiting to be claimed by rightful owners,” said TreasurerCahill. “It is my goal to return as much of this property as possible to the residents and taxpayers of the Commonwealth.”

Auction items are being offered “as is” to the highest bidder. Buyer must pay actual shipping cost. Items will be shipped by the service selected by the winner upon the confirmation of payment.  Payment is only accepted via PAYPAL.

To view auction items or search for unclaimed assets, call 888-344-MASS or visit www.findmassmoney.com, which features a link to the eBay site.  Both the call and Web site are free of charge. 

Timothy P. Cahill serves as Massachusetts State Treasurer and Receiver General. He was sworn in for his second term on January 17, 2007. As the Commonwealth’s Chief Financial Officer, Cahill brings a business-minded approach to managing the state’s finances and has implemented better business practices in the Treasury’s departments and affiliated agencies. Prior to his election in 2002, Cahill served as Norfolk County Treasurer from 1997-2002, as a Quincy City Councilor from 1987-2003, and was a successful small business owner and the author of a book about local businessmen. He is a graduate of Boston University and a recipient of the 2007 Eisenhower Fellowship. Treasurer Cahill lives in Quincy with his wife, Tina, and their four daughters.

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