(The Center Square) – An unclaimed Michael Jordan rookie card sold for $5,400 at an auction, which could go into Iowa’s coffers if the owner doesn’t claim the money, according to Treasurer Roby Smith.
The sports collectible is part of an unclaimed safe deposit box held by the treasurer. State law requires the treasurer to hold stocks, bonds, items from safe deposit boxes and other financial items not recovered by their owner.
Smith auctions the items when there is no more room to store them.
The treasurer is currently holding 3,000 boxes, he said. Some items have been in the treasurer’s office for 10 to 15 years.
Notices are mailed to the owners’ last known addresses, and notifications are placed in newspapers and on social media, Smith said. The treasurer also maintains a website, GreatIowaTreasureHunt.gov, where unclaimed items are listed. But sometimes, the owner is still not found, leading to auctions.
“It’s certainly not every day we come across an item in our care that creates this much excitement,” Smith said in a news release. “While the card has sold, the proceeds from the sale will stay in Great Iowa Treasure Hunt for the rightful owner or heir to claim, as with any auctioned item.”
The card is ranked a PSA 7, which is considered near mint condition, according to the Professional Sports Authenticator,