Collectors have just a few days to bid on one of the most popular basketball cards of all time.
In an effort to clear space in its unclaimed property vault, Iowa State Treasurer Robbie Smith’s office put the contents of dozens of unclaimed safe deposit boxes up for auction earlier this year.
The collection of coins, cash and sports cards includes a 1986 Fleer Michael Jordan rookie card – one of the most valuable cards in the industry.
When they realized the card’s potential value, the treasurer’s office removed it from the lot and ordered it to be evaluated by a professional sports appraiser.
The Jordan card was returned as authentic, graded 7, and is considered “near mint” on the PSA scale of 1 (poor) to 10 (stone fine). In September, it was put up for auction again. No. 5 on IowaUnclaimedProperty.org, with 16 bids as of noon Monday. The auction, currently priced at $4,950, ends at 9:10am on Wednesday, September 10th. twenty.
Video above: Michael Jordan rookie card certified
According to PSA, nine Grade 7 Jordan rookies have been auctioned on Ebay since August 15, with an average price of $4,900.
Smith said his office goes to great lengths to find the rightful owners of abandoned properties before putting them up for auction through the Great Iowa Treasure Hunt.
“While it is heartbreaking to have to auction off the precious contents of these safes, we have been trying to reunite them with their rightful owners for years without success, and we just don’t have the space to continue to keep them,” he said in the release. “Some of the items in this auction have been held for more than 10 years.”
“We send mailings, publish names in newspapers, be active on social media and attend events like the Iowa State Fair to encourage people to search for their names. Through these efforts, we find thousands of people each year. If the owner comes forward before the auction, we will return the item rather than sell it,” the release states.
Proceeds from the auction will be put back into the budget of the office’s Operation Iowa Treasure Hunt, which has helped return more than $340 million in unclaimed property to date.