Jump to content



Photo

Substitute teacher becomes heir to gold fortune

nevada first cousin coins and bullion genealogical researchers

  • Please log in to reply
5 replies to this topic

#1 Hum

Hum

    totally wAcKed

  • 62,539 posts
  • Joined: 05-October 03
  • Location: Odder Space
  • OS: Windows XP, 7

Posted 15 December 2012 - 14:53

CARSON CITY, NV (AP) — A substitute teacher from California was found to be the only heir to a fortune of gold coins discovered by a cleaning crew in the home of a reclusive cousin who quietly stashed away a treasure of more than $7 million before he died this year.

A court hearing in Carson City is scheduled Tuesday, when a judge is expected to certify first cousin Arlene Magdon as the lone heir to the treasure valued at $7.4 million found in the home of Walter Samaszko Jr., Carson City Clerk-Recorder Alan Glover told the Nevada Appeal.

Samaszko, 69, lived a quiet life in Nevada's capital city since the late 1960s and no one apparently knew of his wealth. Records show he withdrew just $500 a month from his stock accounts to pay modest bills, Glover said, who was handling Samaszko's affairs as public administrator.

Samaszko apparently had no living family in Carson City, so genealogical researchers went to work to find relatives elsewhere. They found Arlene Magdon is the only living heir to what appraisers say is an estate worth more than $7.4 million.

A crew hired by Glover to clean up the man's house discovered the eye-popping stash: boxes of gold coins and bullion in the garage. More boxes were later found, and Glover said the gold coins, some neatly wrapped in foil and plastic cases, were enough to fill two wheelbarrows.

"You name it, (he) had it," Glover said.

Since Samaszko was found in his home, Glover said he and experts brought in to help with the case have made progress in appraising the fortune and disposing of some of the other property, including the house, which sold for $112,500.

He said he is taking Samaszko's 1968 Ford Mustang California Special in for servicing this week or next to get it ready for sale. The classic is appraised at about $17,000.

Samaszko also had money market, stock and bank accounts totaling $165,570 and $5,330 in other property in the home. But the vast majority of the fortune was in gold coins. Appraiser Howard Herz filed his report several weeks ago listing a total of 2,695 coins appraised at more than $7.4 million.

"What some individuals have called a hoard of gold is, in fact, a quite well-thought-out investment in gold," he wrote.

Once the gold and other property is sold off and the taxes and expenses paid, the proceeds will become the sole property of Magdon. Those expenses include the appraisals, storage of the gold and other property, legal fees and 2 percent of the eventual proceeds that, by law, go to the public administrator who handled everything. :rolleyes:

Glover said there have been a few callers trying to claim some or all of the gold is theirs — one of them annoying enough that Glover got a court order blocking him from further communications. None of the callers presented any evidence to support their claims, he said.

"If they have a true claim, they've got to file court papers," he said.

source


#2 streetw0lf

streetw0lf

    Neowinian

  • 468 posts
  • Joined: 03-January 04
  • Location: USA

Posted 15 December 2012 - 15:04

Uncle Walter died? Carson City here I come ;-)

#3 Glassed Silver

Glassed Silver

    ☆♡Neowin's portion of Crazy♡☆

  • 10,729 posts
  • Joined: 10-June 04
  • Location: MY CATFORT in Kassel, Germany
  • OS: OS X ML; W7; Elementary; Android 4
  • Phone: iPhone 5 64GB Black (6.0.2)

Posted 15 December 2012 - 15:07



Glassed Silver:mac

#4 OP Hum

Hum

    totally wAcKed

  • 62,539 posts
  • Joined: 05-October 03
  • Location: Odder Space
  • OS: Windows XP, 7

Posted 15 December 2012 - 17:18

Once the gold and other property is sold off and the taxes and expenses paid, the proceeds will become the sole property of Magdon.



She might have a million left, when it's all over ...

#5 Growled

Growled

    Neowinian Senior

  • 41,508 posts
  • Joined: 17-December 08
  • Location: USA

Posted 16 December 2012 - 02:51

Uncle Walter died? Carson City here I come ;-)


You're kin too? Will wonders never cease. :D

#6 Ph1b3r0pt1c

Ph1b3r0pt1c

    Neowinian

  • 426 posts
  • Joined: 10-September 12
  • Location: Sebree, Kentucky
  • OS: Debian, Windows 7, Server 2012

Posted 16 December 2012 - 16:53

Time to pay 96% of it in 'inheratance' tax