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Colin Lea
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The author is Australian with a long term interest and personal stake in financial planning and management. He works within the Financial Services Industry, is a member of the FPA Australia, and is a Certified Gold Seeking Alpha Contributor. Prior professional background of 20 years in military... More
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  • $200 In Bank, $7M In Gold Hidden Inside Home 2 comments
    Sep 17, 2012 7:36 PM | about stocks: GLD

    One for all the Gold (NYSEARCA:GLD) bugs out there !!

    A Carson City, Nev., recluse whose body was found in his home at least a month after he died left only $200 in his bank account.

    But as Walter Samaszko Jr.'s house was being cleared for sale, officials made a surprise discovery: gold bars and coins valued at $7 million.

    "Nobody had any clue he was hoarding the gold," Carson City Clerk-Recorder Alan Glover told the Las Vegas Sun, adding it was found stored in boxes in the house and garage.

    The 69-year-old Samaszko was found dead in his home in late June after neighbors called authorities. He had been dead of heart problems for at least a month, according to the coroner.

    He had lived in the house since the 1960s, and his mother lived with him until her death in 1992.

    He left no will and had no apparent close relatives. But using a list of those who attended the mother's funeral, Glover's office tracked down Arlene Magdanz, a first cousin in San Rafael, Calif., the Sun reported.

    A recording said her phone number had been disconnected.

    "Our goal is to get the most money for the heir," Glover said.

    The gold coins had been minted as early as the 1840s in such countries as Mexico, England, Austria and South Africa, he said.

    Based on just the weight of the gold alone, Glover estimates their worth at $7 million. Because some of the coins appear to be collector's items, the value could go much higher, he said.

    Neighbors told authorities they knew little about Samaszko other than he was quiet and not a problem.

    Samaszko was "anti-government," Carson City's Nevada Appeal reported, and a few conspiracy theory books were found in the home along with several guns.

    "He never went to a doctor," Glover told the newspaper. "He was obsessed with getting diseases from shots."

    Samaszko also had stock accounts of more than $165,000 and another $12,000 in cash at the house.

    Glover said he wants to start selling off the gold as soon as possible. The IRS wants a share of the total, he said, and the case is relatively simple other than the agency's involvement.

    "At least you don't have 12 relatives fighting," Glover told the Appeal.

    www.foxnews.com/us/2012/09/17/nevada-man...

    Themes: Gold, Silver, Stocks Stocks: GLD
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  • Youngone91
    , contributor
    Comments (198) | Send Message
     
    poor guy, should've spent all that money on ladies and vices. This guy believed that fiat currencies are doomed but could've used some Keynes " In the long run we're all dead"
    17 Sep 2012, 09:47 PM Reply Like
  • Colin Lea
    , contributor
    Comments (578) | Send Message
     
    Author’s reply » Sad that he was on his own in the end. But would be interesting to know his story as well.
    17 Sep 2012, 10:16 PM Reply Like
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