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<p>[QUOTE=&quot;satootoko, post: 169368, member: 669&quot;]Texas and a few other states do indeed use EBay to auction off escheated items, including coins.&nbsp; The majority of escheated coins and jewelery are from the contents of safe deposit boxes which haven&#039;t been paid for by the customer for a period specified in state law - generally 1 to 5 years.&nbsp; Some of it also comes from stolen property recovered by police who can&#039;t identify the true owner, but mostly that type of material is sold at local police auctions which don&#039;t get on the internet.</p><p><br /></p><p>Escheat laws generally provide that money from abandoned accounts and the proceeds of selling other abandoned property, go into the state&#039;s general fund; but if the true owner comes forward and identifies him/her/itself with proof of ownership, they will be paid the escheated amount.&nbsp; The legal basis for escheat laws is the centuries-old concept that since everything must have an owner, abandoned property belongs to the king, who is also entitled to possession of lost property.[/QUOTE]</p><p><br /></p>

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