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Sunday, Sept. 16, 2012 | 2 a.m.
Walter Samasko Jr., a recluse, died at home in May, but his body wasn’t discovered until June, when neighbors complained of the smell coming from his house.
There was only $200 in his bank account. But there was a $7 million surprise at home.
As the house was being cleaned for sale, officials discovered gold bars and gold coins stored in boxes in the garage and in the house.
The coins had been minted in such places as Mexico, England, Austria and South Africa. Some dated to 1872.
There were so many coins that Carson City Clerk Alan Glover used a wheelbarrow to haul the gold to his truck and deposit it for safekeeping.
Samasko had no will and no apparent close relatives. He was cremated and his ashes were flown to Chicago to be placed with his mother, who moved with Samasko from California to Carson City. She died in 1992.
Using a list of those who attended the mother’s funeral, Glover’s office tracked down Arlene Magdanz, a first cousin living in San Rafael, Calif.
Magdanz, a substitute teacher, could not be reached for comment. But a lawyer who talked to her said her first reaction was, “Oh, my God. Oh, my God.”
She had not talked to Samasko, who died of heart problems, for a year and has no plans for how to spend the unexpected inheritance.
Samasko hadn’t worked since 1968, but he had stock accounts of $140,000 and $25,000 and was living off his investments.
“Nobody had any clue he was hoarding the gold,” Glover said.
Guess he was a libertarian? Died alone with his Gold.
"Carson City Clerk Alan Glover used a wheelbarrow to haul the gold to his truck and deposit it for safekeeping. "......yeah right!
I wonder how many more "relatives" come out of the wood work
== as a matter of fact I think I might be related to this gentleman...yep we go way back.
Here's the punchline: smart Walter bought all that gold in the 1960s for only $100,000.
You want to build REAL wealth? Stay away from monopoly money like the US dollar.
Only $200 in his bank account - I LOVE IT! God bless you Walter, rest in peace. I hope the "officials" don't steal too much of your gold.
They r not doing this right. This guy died without a will his estate is suppose to go in probate. The judge will determine who is the rightful owner of his money. He could have lots of first cousins.
He had heart problems. Why let it get to the point of where you make no provision for all this money? Set up a trust, give it to charity, give it to known relatives, friends, maybe a caretaker. You can't take it with you on your next journey.
uncle walt ?
I am astounded they "found" it.
@Tom
In addition to heart problems this guy, being a recluse, most likely had mental issues as well.
Probably to the point he didn't think about making provisions, and he may not even remembered having the stashed gold.
There are many people in similar situations, however, most have little in the way of assets.
haha.. My first thought was "d501s" Comment.
Bastawds with the state: KEEP YOUR PAWS OFF HIS $$. Don't need any more citizen money funding your corrupt machine that has stolen Nevada away from its residents!!!!!!!
Kind of looks to me that he took his apparent liberterianism take to the extreme.
"We lost a another true American..."? LasVegas 2009, life isn't just about your balance sheet. Given the limited information the article provides, it sounds like a rather sad existence... he died and nobody noticed for a month, left no will, closest relative hadn't spoken to him in a year, but he had lots of gold. I'd rather have lots of friends and family!
"We have lost another true American and all you idiots come on here to blast him as bad."
------------------------
Not bad, it s sad. An old libertarian sitting on $7 Million in Gold who diden t even spend his stash on his own health problems? Sounds like he had Dementia.
Terrie Ward,
Are you now an attorney or you just playing one on the Internet? ;-)
Strange story about a weird old wealthy man
Libotards here would only be happy if his wealth was "spread around" in the form of food stamps, cell phones, and cable tv for the "poor".
Ms. Arlene Magdanz was determinded to be a INTESTATE Heir.
Just because the man died intestate doesn't mean that his estate wasn't probated.
"They r not doing this right. This guy died without a will his estate is suppose to go in probate."
"Just because the man died intestate doesn't mean that his estate wasn't probated."
tward40 & casinokid -- dying intestate means dying without a valid will, so there was nothing to probate. In Nevada the estate -- the gold -- escheats to the schools. Thus giving new meaning to "cheat."
"Why let it get to the point of where you make no provision for all this money? Set up a trust, give it to charity, give it to known relatives, friends, maybe a caretaker. You can't take it with you on your next journey."
TomD -- for once I agree with you. Trusts are a time-tested but long-forgotte PRIVATE right we all still enjoy. They have half a millennium of solid legal history behind them, and I've Cicero mentioned them -- he was executed by the new Caesar in 43 B.C.E.
"He was an American that prepared for a storm. He worked and saved always spending less than he earned. Never asked the government to help with his "student loans" or to provide him free medical care at the cost of others."
LasVegas2009 -- you actually knew him?
"Kind of looks to me that he took his apparent liberterianism take to the extreme."
RobRBarron -- nothing extreme about creating actual, personal wealth
"Are you now an attorney or you just playing one on the Internet?"
vegaslee -- bench and bar are the problem, not the solution. Wake up! The law belongs to We the people, not to them.
Probate is one of the slimiest, and therefore most profitable, law practices. When Marilyn Monroe died in 1962 her estate was worth about $1.6 million. When it finally emerged from probate in 1980 her heirs ended up with a mere $101,000. That's what was left when bench and bar finished with it. That's from http://www.sfgate.com/business/article/S...
"There is no more cruel tyranny than that which is exercised under cover of law, and with the colors of justice." -- baron de Montesquieu (1748) "The Spirit of the Laws"
Too bad he never experienced that Hawaiian vacation, must have forgot how to live.
This guy seemed to lead a simple life and saved for what who knows. But now that he is dead and this great amount of wealth was found everybody has their hand out trying to get a piece, lawyers, schools, the state, and who knows how many other countless people will step up. It should go to the heirs. If he was smart enough to accumulate this kind of wealth you would think he would have had a will.
Oh my God, Daddy is dead ! What do i do now !