Auction of safe deposit boxes could yield big bucks

NEWARK - Silver bars, pocket watches and rare coins and currency are among the approximately 2,000 items that buyers will be able to bid on during a rare auction at Apple Tree Auction Center on Thursday and Friday.

The auction of abandoned and unclaimed safe deposit boxes from across the state is expected to draw thousands of online bidders and several dozen at the Auction Center.

Debbie Allen, co-owner of Apple Tree Auction Center, said online postings of the lots available for sale had been viewed more than 80,000 times as of Tuesday morning.

Dozens of people were expected to view the property up for auction before the sale began.

Sam Schniadt, co-owner of Apple Tree Auction Center, said the business has been doing auctions of safe deposit boxes for about 12 years, however, this auction is through the state of Ohio, making it more rare.

The more than 2,000 items that will be available during the two-day auction comes from about 1,000 safe deposit boxes, some of which have been unclaimed since the 1960s.

Discovering what was in each box was an exciting part of preparing for the auction, Allen said. One box contained more than 100 gold Kruggerands and another contained about 32 100-ounce silver bars.

"Somebody put them away and either forgot where they were or passed away and didn't tell anyone," Allen said.

The boxes that are involved in the sale have been listed on the state's unclaimed funds page for years and the banks in control of the boxes have attempted, sometimes for decades, to locate the owner or a relative, Schniadt said.

The property that will be auctioned off has been divided up into smaller lots to ensure each piece gets the best price possible, especially if an heir is eventually located.

"If an heir comes back to claim it, you want to be able to say (the state) got the most for those items," Allen said.

One of the most unique items up for sale is a $50 National Bank Note issued by a bank in Newark in the late 1800s with permission of the federal mint.

A public preview of the items up for bid is being held from noon to 5 p.m. Wednesday.

The auction is open to the public and will contain items affordable to any level of coin collector, Allen said.

The auction will be held beginning at 9 a.m. Thursday and Friday. Doors open at 8 a.m.