Other News Video |
Lose $12,000 In Solid Silver Bars?
State Treasurer Wants To Find Owner Of Unclaimed Asset
POSTED: 2:45 p.m. MST December 4, 2003
UPDATED: 11:41 a.m. MST December 5, 2003
DENVER -- State Treasurer Mike Coffman asked the public for
help Thursday in solving the mystery of how $12,000 in solid silver
bars got into a safe deposit box at a Colorado Springs bank.
The bars were handed over to the state by a Wells Fargo Bank
after the owner failed to pay rent on the box for five years. If
the silver is not reclaimed in five years, the state will sell it
and invest the money for the owner in the event the property is
ever reclaimed.
"There's a lot of mystery, I think, involved in this silver and
how we got it," Coffman said as he displayed the bars at the state
Capitol.
The eight silver bars and 18 silver ingots weighed 139 pounds
and are worth at least $5.40 an ounce at current market prices.
Coffman said serial numbers and other markings identify the
bars' origin, which he would not disclose. He said anyone trying to
claim the bars would have to prove they rented the safe deposit
box.
Coffman said the bars have produced a lot of speculation. He
said he could not rule out the possibility the bars were stolen, or
came from the state's historic silver mining towns.
"This is the strangest thing we've ever gotten out of one safe
deposit box," Coffman said.
If they are yours, you could be singing "Silver Bars" this Christmas.
The bars were handed over to the state by a Wells Fargo Bank
after the owner failed to pay rent on the box for five years. If
the silver is not reclaimed in five years, the state will sell it
and invest the money for the owner in the event the property is
ever reclaimed.
"There's a lot of mystery, I think, involved in this silver and
how we got it," Coffman said as he displayed the bars at the state
Capitol.
The eight silver bars and 18 silver ingots weighed 139 pounds
and are worth at least $5.40 an ounce at current market prices.
Coffman said serial numbers and other markings identify the
bars' origin, which he would not disclose. He said anyone trying to
claim the bars would have to prove they rented the safe deposit
box.
Coffman said the bars have produced a lot of speculation. He
said he could not rule out the possibility the bars were stolen, or
came from the state's historic silver mining towns.
"This is the strangest thing we've ever gotten out of one safe
deposit box," Coffman said.
If they are yours, you could be singing "Silver Bars" this Christmas.
Great Colorado Payback
The Great Colorado Payback, Colorado's unclaimed property program, seeks to reunite lost or forgotten property with its rightful owners or their heirs. Under state law, businesses and other financial institutions must turn over abandoned or unclaimed property to the state treasury. Unclaimed property forwarded to the state includes stocks, bonds, savings accounts, jewelry, antiques and collectibles such as old newspapers and rare coin collections. This year's additions bring the total amount of unclaimed property held by the state to more than $190 million, belonging to more than one million Coloradans. In 2002, Coffman returned a record $7.7 million to 24,000 individuals and businesses. Since the program's inception in 1987, the Great Colorado Payback has returned more than $107 million to over 220,000 claimants. Coffman said residents have a much greater chance of getting money from the Great Colorado Payback than winning the lottery. Individuals can check these lists for their names and may also submit inquiries on the Great Colorado Payback website at www.treasurer.state.co.us. Owners can also call the Payback office at (303) 894-2443 or toll free at 1-800-825-2111; or write to the Payback office at 1120 Lincoln St., Suite 1004, Denver, CO 80203. There is no charge for this service and there is no time limit to file a claim.
Previous Stories:
- December 1, 2003: State's Unclaimed Property Selling Well On eBay
- October 13, 2003: State's Unclaimed Property To Be Auctioned Off On eBay
- April 24, 2003: State Wants To Return $23 Million In Unclaimed Assets
- October 17, 2002: Don't Get Hooked By The Unclaimed Money Pitch
- April 12, 2002: Do You Have Unclaimed Money Waiting For You?
- February 8, 2002: Scams About Unclaimed Money On Rise
Copyright 2003 by TheDenverChannel.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.







