Kentucky's state treasury is holding its first ever Unclaimed Property Week, and officials say $1.2 billion in cash, silver, jewelry and other valuables is waiting to be returned to its rightful owners."The state treasury is res ponsible for $1.2 billion that belongs to Kentuckians, and our objective is to get that money back to them," Kentucky State Treasurer Mark Metcalf said.The event was authorized by the Kentucky General Assembly."Unclaimed Property Week was authorized by the General Assembly. This is the first time it's been celebrated," Metcalf said.The idea came from within the treasury itself."My staff brainstormed this and came up with the idea, if we want people to know about unclaimed property, we have to tell them," Metcalf said.Much of the unclaimed property ends up in Frankfort after banks are required by law to report and transfer items that go unclaimed for a set number of years."A lot of times what happens a box is at a bank, the owners pass away, or the fees aren't paid, and according to law, after so many years, the banks have to report and remit those items to unclaimed property," Katrina Stoner, assistant director of unclaimed property, said.Among the items currently held by the state is a 25 troy ounce bar of silver, small in size but notably heavy.While Metcalf said most claims are $100 or less, the amounts can be far greater. He recalled one case involving an elderly man in eastern Kentucky who was struggling to pay his electricity bill."We had an elderly gentleman in eastern Kentucky. He couldn't pay his electricity bill. We found $300,000 in his name," Metcalf said.Officials estimate 1 out of every 7 Kentuckians has unclaimed property waiting for them."We hope we have a lot of visitors come in for Unclaimed Property Week and I hope this tradition carries," Stoner said.Unclaimed Property Week runs September 21st through 25th. For more information, you can visit Unclaimed Property - Mark MetcalfMolly Demrow is committed to covering the stories that matter to you. If you have an idea, please reach out to Molly at [email protected] ...read more read less