Va. Govt. Holding Online Auction for Unclaimed Valuables

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File photo of jewelry. (credit: David Surowiecki/Getty Images)

File photo of jewelry. (credit: David Surowiecki/Getty Images)

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RICHMOND, Va. (CBSDC/AP) — Musical instruments, coins, jewelry, collectibles and more are all up for auction by the Virginia Department of the Treasury.

The items up for grabs in the so-called tangible property auction will be on display Tuesday in the James Monroe Building in Richmond. Several conference rooms have been set aside.

The items typically are from old safety deposit boxes or estates in which no one has come forward. Last fiscal year, the auction returned more than $38 million in unclaimed funds to Virginians. One in four Virginians are estimated to have unclaimed property and more than $1 billion is waiting to be claimed.

The auction is hosted online at ebidlocal.com.

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(TM and Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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