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Treasure Trove To Be Auctioned Dec. 16th and 17th

December 10, 2008 by Administrator · 1 Comment 

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San Diego buyers of precious metals get prepared. Jewelry, stacks of gold and silver coins, and assorted medals are among more than 3,000 lots of unclaimed property treasures the state is auctioning off at James G. Murphy Inc., located at 18226 68th Ave. NE in Kenmore, beginning at 9 a.m. on Dec. 18 and 19.

The auction will continue each day until all lots for that day are auctioned off. Interested parties can preview items between 8 a.m. and 4 p.m. on Dec. 16 and 17, or online at www.murphyauction.com. Online bids can be made during the auction.

Pocket watches, bars of silver, and assorted souvenirs are samples of items turned over to the State Department of Revenue after banks and credit unions lost contact with owners who rented safe deposit boxes and held the boxes without rental payment for at least five years. The department has sought out owners of the safe deposit contents, but by law must auction off the property within five years of receipt.

The state now holds $650 million in unclaimed property, belonging to three million people, accumulated since the 1950s. In addition to safe deposit contents, unclaimed property includes uncashed payroll checks, savings and checking accounts, and stocks and bonds. Each year more unclaimed property is turned over to the department. An online searchable database and claims system makes it easy to check for property – a system that has enabled the Department to return more than $112 million to about 240,000 rightful owners over the past three years. The database is available at ClaimYourCash.org.

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For those interested in the fine print regarding the trade of gold and silver jewelry, then we have just what you are looking for. Go to the following article for the details: Essential Guide to Trade in Gold & Silver Jewelry.

The Essential Guide to U.S. Trade in Gold and Silver Jewelry

November 25, 2008 by Administrator · Leave a Comment 

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JCK Online reports that The Jewelers Vigilance Committee has released a new publication, “The Essential Guide to the U.S. Trade in Gold and Silver Jewelry.” The Guide was developed to provide clear explanations of the legal standards that govern the manufacture, sale, and advertising of gold and silver industry products and can help the trade to provide clear, accurate information to consumers.

The publication includes JVC’s interpretation of the following governing standards:

1) The National Gold and Silver Stamping Act
2) The Federal Trade Commission Guides for Jewelry, Precious Metal and Pewter
3) Voluntary Product Standard (VPS) PS 68-76, reflects the accepted trade practice in the marking of articles made only of silver in combination with gold, either visually distinguished or not, and includes articles where the gold fully covers the base.

The Guide also contains information that jewelry manufacturers must be familiar with and follow, including: when and how to stamp gold and silver; what a gold alloy is; and what is solid silver.

“The Essential Guide to the U.S. Trade in Gold and Silver Jewelry” is posted on JVC’s Web site.

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Looking for some good deals on used jewelry? San Diego jewelry shoppers take note that big stash of fine jewelry is going up for sale on e-bay soon. You can read about it here: Unclaimed Jewelry On Sale at E-bay.

Illinois to Auction $125,000 of Unclaimed Jewelry on Ebay

November 25, 2008 by Administrator · Leave a Comment 

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Are you looking for some great deals on second-hand fine jewelry? Doesn’t matter if you are from San Diego, you can still take part in the Illinois jewelry auction on Ebay. Illinois State Treasurer Alexi Giuannoulias’ office has begun auctioning the contents of abandoned safety deposit boxes on eBay to holiday shoppers. Read more

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