New Mexico Removes Gold Bar From Auction

Jul 24, 2013

New Mexico officials are withdrawing a seven-pound gold bar from the state's unclaimed-property auction because an Albuquerque family says it belongs to them.

State officials decided this week to pull the bar from Saturday's auction while they look into the claim.

According to surviving family members, the bar belonged to Russian immigrant Seymour Mann and went to his daughter when he died in 1989.

The daughter, Lisa Mann, died in February, but a lawyer for the family says she was unable to locate the gold bar until members learned it was to be part of the New Mexico Taxation and Revenue Department's auction.

The bar is now valued at approximately $113,000.

The auction will be held Saturday at the Albuquerque Convention Center. Bids can be submitted online .

Copyright 2013 The Associated Press.