Sign in to comment!

Menu
Home

U.S.

Nevada recluse's huge gold fortune to be auctioned off

6a015bdae4429e062a0f6a706700a47b.jpg

Dec. 17, 2012: The Carson City, Nev. home of Walter Samaszko Jr. (ap)

The final treasures of a quiet man who collected a fortune in gold coins will be auctioned off Tuesday in Nevada.

The body of Walter Samaszko Jr. was found in his Carson City home in June 2012. After his death, a cleaning crew hired to tidy his modest, ranch style home where he had lived for four decades came upon a stunning discovery -- boxes and boxes full of gold coins and bullion collected over an unassuming lifetime. It was enough to fill two wheelbarrows.

One batch, mostly bullion, was sold at auction in February for $3.5 million. Tuesday's auction at the Carson City courthouse includes more than 2,600 coins to be sold in six lots.

"These are the rated coins; the collector types," Glover said Monday. "It's a little more complicated on the pricing that it is on the bullion."

The fortune, after taxes, will go to Samaszko's only surviving cousin, Arlene Magdanz of San Rafael, Calif.

A substitute teacher, Magdanz has shunned media attention and not spoken publicly about her new-found riches. Officials were able to track her down using a funeral bulletin at Samaszko's home that led to his father's service in Chicago in the early 1960s. Newspaper clippings listed survivors.

Alan Glover, Carson City Clerk-Recorder who was in charge of handling Samaszko's estate, said he's never met Magdanz, a substitute teacher, but has talked with her by phone.

"She was just overwhelmed by all the publicity," Glover said.

The first lot set for auction is silver coins. Lot 2 contains more than 300 $10 U.S. gold pieces. The remaining four lots are comprised of $20 U.S. gold pieces, including more than 1,200 Saint Gaudens gold coins.

Glover said he expects five bidders, the same who participated in the earlier auction, to be on hand Tuesday.

"These guys are going to pay a lot of attention to these," he said.

Each has received digital images, front and back, of every coin to be sold, Glover said, adding the images can be blown up for experts to look for scratches or flaws that could affect their value. Bidders have been given set times, beginning at 9 a.m., to view the collection in person and in private.

Bidding begins at 1:30 p.m.

Glover said his office is awaiting final accountings from the Internal Revenue Service on how much is owed in taxes.

"After this sale, then we'll just sit on the money until we can find out what we owe them," he said.

"Then we'll settle up."

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.94% dw 4.13%  
15 Y Fixed Graph 3.04% dw 3.08%  
30 Y Fixed Jumbo Graph 4.47% up 4.16%  
5/1 ARM Graph 3.55% up 3.40%  
5/1 Jumbo ARM Graph 3.37% up 3.12%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% up 4.31%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.48% dw 4.50%  
$75K Loan Graph 4.50% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% dw 2.94%  
36 M Used Graph 3.46% -- 3.46%  
48 M New Graph 3.22% dw 3.23%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% up 0.38%  
1 yr Graph 0.72% up 0.71%  
5 yr Graph 1.50% dw 1.52%  

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →