Vast collection of gold coins worth millions discovered in dead man's Nevada home
Tuesday 26 February 2013
Even though he lived in the same quiet neighborhood for decades, no one seemed to know Walter Samaszko Jr. He was so reclusive that weeks passed before authorities discovered he had died in his modest home in Nevada.
But when cleanup crews arrived, they made another startling discovery: the 69-year-old who had lived so simply had a vast collection of gold coins worth millions of dollars stored in old ammunition boxes in his garage.
About half of the collection was due to be auctioned tonight in a Carson City courtroom to pay the $800,000 in government estate taxes and fees. The profits beyond that amount will go to a substitute teacher in San Rafael, California, who is Samaszko’s first cousin and sole heir. It took an exhaustive search to locate Arlene Magdanz.
In total, about 135lb of gold is to be sold at auction, which was expected to net about $3m. Another auction for the larger half of the collection is due to take place soon.There boxes contained 2,900 Austrian coins, many from 1915; more than 5,000 from Mexico; at least 500 from Britain; 300 U.S. gold pieces, some dating to 1880; and more than 100 US gold pieces as old as the 1890s.
Among the coins were meticulous records of the purchases dating back to at least 1964, when gold averaged about $35 per ounce. It currently sells for nearly $1,600 an ounce.
Authorities believe that his mother, who lived with Samaszko until her death in 1992, purchased most of the coins. Despite the millions of dollars in his garage, Samaszko didn’t appear to lead a luxurious life. Records show he only withdrew about $500 a month to pay modest bills. He died with $1,200 in a bank account and just over $165,000 in a money market and mutual fund account.
Since learning of her inheritance, Magdanz has shunned publicity and has not commented on her new-found wealth.
- 1 If you weren't afraid of flying before last week... you probably are now
- 2 Israel-Gaza conflict: The secret report that helps Israelis to hide facts
- 3 Students offered grants if they tweet pro-Israeli propaganda
- 4 Lauren Goodger calls for tougher laws on revenge porn after sex tape leaks online
- 5 Iraq crisis: End 'very near' for Christianity after Isis takeover, says Bishop
Israel-Gaza conflict: The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
£30000 per annum: Ashdown Group: A highly reputable software house is looking ...
£40000 - £45000 per annum: Ashdown Group: An established professional services...
Highly Attractive Salary: Austen Lloyd: CITY - SENIOR COMMERCIAL LITIGATION SO...
£35000 - £40000 per annum + competitive: Progressive Recruitment: My client is...