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Tuesday, Dec. 18, 2012 | 10:19 a.m.
CARSON CITY — A District Court judge today certified that a substitute school teacher from California is the rightful heir to $7.4 million in gold coins discovered in the garage of a reclusive man who died in May.
Arlene Magdon, who was not present in the courtroom, is a first cousin of Walter Samasko Jr., who lived in Carson City.
There were no objections to the designation of Magdon, of San Rafael, Calif., as the heir.
The 2,695 gold coins, some dating to the 1880s, were discovered in boxes in Samasko’s garage among cartons of tuna.
It was a month — only after neighbors complained of an odor coming from Samasko’s house in Carson City — before anybody realized he had died. He had few friends and lived alone on $500 a month from stock investments, officials said.
Carson City Clerk-Recorder Alan Glover said some or all of the coins will be sold to cover an estimated $800,000 inheritance tax due the Internal Revenue Service in March.
After that, Glover said, the money or coins can be released to Magdon, who has not replied to requests for comment. She has hired a financial adviser, Glover said.
I just don't understand why someone would hoard money/gold like this while your health is in decline or you're getting too old. Give it away while you're living or spend it on yourself. You certainly aren't taking it with you. No will, no heirs that he knew about. Just an amazing windfall to someone who was likely no more than a strnger to this man.
@TomD1228,
Having had a relative who died leaving an estate worth over $1m, despite penny pinching and working 12 hour days, I can offer some insight.
My relative was raised in the Great Depression, lived through WWII and basically got used to managing without and saving for when they need it.
As they get older, they are used to the habits of a lifetime and experience guilt in spending on luxuries.
My relative was happy with his life, they just didn't have anything they needed or wanted.
My relative was happy with his life, they just didn't have anything they needed or wanted.
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This is why people should give it away while alive. Maybe they can't or will not enjoy it during their life but they might find joy in seeing you spend it on a new car for yourself..a gift if you will when you or some other relative might have needed it. As Michael Blooberg said "my hope is to give away my fortune before I die and bounce the last check to the undertaker"..