Unclaimed Property Headed for Internet Auction Block

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Colorado is going high tech with its property auctions. Treasurer Mike Coffman says he'll put the state's unclaimed property up for auction on E-Bay starting Tuesday. Colorado will join five other states using the Internet for unclaimed asset sales.

Coffman says a pilot program showed higher than anticipated returns. The state's unclaimed property program takes charge of safety deposit boxes, savings accounts and other property turned over by financial institutions, insurance companies and other businesses until they can be claimed by their owners. Items for sale include an old pocket watch, an 1834 penny and antique jewelry.