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Tuesday, Jan. 29, 2013 | 10:34 a.m.
CARSON CITY — Uncle Sam is going to get first crack at $7.4 million in gold coins left hidden away by a recluse who died without a will.
District Judge James Wilson today set a date of Feb. 26 to auction off some of the gold coins to pay off $800,000 in inheritance taxes due in March.
The rest of the estate will go to Arlene Magdanz of San Rafael, Calif., a first cousin of Samasko who was determined to be his only living relative.
Samasko, who lived alone on $500 a month from stock investments, died in May at his home in Carson City. It was a month — only after neighbors complained of an odor coming from the house — before anybody realized he had died.
During a cleanup of his house, 2,695 gold coins from various countries were discovered in boxes in the garage, among cartons of tuna.
The auction will be held at the courthouse.
“It’s going to be a real auction with those interested provided paddles to place their bid, and they will be seated in the jury box of the courtroom,” said Carson City Clerk Alan Glover, administrator of the estate.
The coins will be on display and there will be armed guards in the courtroom.
There have been about a half dozen inquiries about bidding on the collection, Glover said.
The coins will be sold in lots or 10 or 11, and the minimum bid must be at least 98.5 percent of the price of gold on the day of the auction. The winning bidders must pay within 24 hours.
What a shame all that was under his roof and he never enjoyed a moment of it.A will,a trust is so important no matter your situation.Let your intentions be known (on paper). The saddest thing I EVER saw was a friends mother who died in a hospital after being taking there from the nursing home. Within 24 hrs of her death,the room in the nursing home was "cleared out" totally and all her worldly possessions thrown in a super market shopping cart and put down in the basement near the boiler room. So sad to be alone in the end.
Can anyone explain why this windfall wasn't just turned over to its' rightful heir and then let that person pay whatever inheritance tax there might be? Since when does the government confiscate and auction off just to get their tax dollars??
@azsk8fan: I think that if there isn't a will that the government can do that but I may be wrong.
Very sad that this gentleman lived a very frugile life, had millions and our government makes sure that they get there share. Still can't grasp why there is an inhereitance tax in the first place.
"Still can't grasp why there is an inhereitance tax in the first place."
Because Democrats honestly believe that nobody has actually earned anything on their own. That without the government in place as it is, nobody would be successful. Therefore, Democrats feel the government is entitled to share in the spoils of somebody else's success.
I can see if they can't find a legal heir that they might want to hold an auction to ensure they cut 'their cut'... but since there IS a legal heir I just don't see how they can hold an auction on these gold coins - it's not the governments to begin with - I don't agree with the inheritance tax aspect either but it is what it is - give the coins to the legal heir and then hold them responsible for whatever tax money is owed. This is a scary thing the government can apparently do legally :(
@Noindex... so is what you're saying is that this supposed legal manuever what something the Dems instituted? Give me a break.........