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#1795380 - 03/15/13 05:49 PM Unclaimed Property - Safe Deposit Box Contents
JoAnne Offline
Platinum Poster
Joined: Feb 2001
Posts: 795
In the State of Michigan Manual for Reporting Unclaimed Property on page 2-11 it states for Cash: List coins by denomination. Normal looking currency should be converted to a bank cashier's check paybale to the St of MI and submitted with other safe deposit box contents. Unusual or distinctive currently should be remitted....

I am reading this to mean:
1- Convert normal looking PAPER currency to a cashiers check and note on teh inventory sheet that cash has been converted..

- Coins, whether normal looking or distinctive, should be listed by denomination and remitted with the rest of the contents.

- Unusual or distinctive PAPER currency should be remitted .....

Two questions:
1. Am I reading this right?
2. is the $ amount of the coin reported based on denomination/face value or does an appraisal have to be obtained if coins could be collectible.
Opinions posted are not necessarily those of my employer.

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#1795442 - 03/15/13 07:07 PM Re: Unclaimed Property - Safe Deposit Box Contents JoAnne
tpowers4 Offline
100 Club
Joined: Sep 2006
Posts: 157
St. Louis
1)Yes you are reading it right;
2)The value is based on face value.
I wish that God grants you twice what you wish for me.

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