From New York State Office of Unclaimed Funds - Handbook
The procedures for opening safe deposit boxes for non-payment of rent are in Section 335 of New York’s Banking Law.
The law requires you to report cash, including the net proceeds from an auction, and securities three years from the date of the box’s opening. It also requires you to report the proceeds resulting from an auction of property held in excess of three years as of June 30 of the year in which you received the proceeds.
You are not required to hold an auction, but if you do, the net proceeds are reportable on a box-by-box basis after subtracting the auctioneer’s expenses and reasonable bank fees.
Do not report coins, including U.S. coins such as silver dollars, with an apparent market value in excess of face value at face value or offset them against bank fees. You should retain and auction them.
Do not report Series E bonds to us. Retain them or forward them to:
Department of the Treasury
Parkersburg, WV 26101
You must retain papers and property of no apparent value for at least ten years, in accordance with Section 335.1(f) of New York’s Banking Law.
Do not report negotiable instruments found in a safe deposit box as abandoned property. If appropriate, the issuing organization will report the underlying funds.
Opinions expressed are mine (since I'm retired).