Skip to comments.$7 Million In Gold Bars Found In Reclusive Manís Home Month After He Died
Posted on 09/17/2012 9:20:41 PM PDT by Jet Jaguar
A Carson City 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 mothers funeral, Glovers office tracked down Arlene Magdanz, a first cousin in San Rafael, Calif., the Sun reported.
(Excerpt) Read more at lasvegas.cbslocal.com ...
Sounds like a lot, but would probably only fill a shoebox or so...
What a waste. The gubmint is in a big hurry to sell off someone else's money. Just like taxes - its theirs and its free!
Maybe seven shoeboxes.
Damn bloodsucking IRS is probably camped on his front porch.
Why should the govt. be entitled to anything? Is this $5 million based on the value of something now, or what it might have been worth when the man acquired it?
Oh yeah, I forgot that old Walt was keeping an eye on that stuff for me!
If the $7 million is by weight alone, it’s 250 lbs at today’s gold price per ounce.
Coins. The article writer explains the value as just for the weight. They had not been valued yet.
$7,000,000.00 is roughly 243 pounds @1800 per ounce. That would be a mighty BIG shoebox.
A lot of old people better buy guns.
They already have guns, and like the gold, a lot of them have appreciated in value.
The lawyers will get their share in probate court!
“$7,000,000.00 is roughly 243 pounds @1800 per ounce. That would be a mighty BIG shoebox.”
Not really. How big is a shoebox? 7” x 4” x 12”? (just making that up)
= 336 cu inches.
The density of gold is 19.3 grams per cubic centimeter. 1 inch = 2.54 cm, so 1 cubic inch = (2.54 cm)3 = 16.387 cm3. Multiply volume x density: (19.3 g*cm-3)*(16.387 cm3) =
316.27 grams in a cubic inch.
Times 336 = 112,986.7 grams in a shoebox. Divided by 453 grams per pound, and you’ll probably fall over when I tell you that a 4*7*12 shoebox holds 249.41 lbs of gold!
I’ll take the extra .6 lbs as my accounting fee, thank you very much!
I am calculating the above in avoirdupois pounds, gold and silver are weighed in troy ounces and (far less frequently, troy pounds) but you get the idea. Let’s just say it would have to be a VERY STRONG shoebox.
Wait a little while. "Close relatives" may start crawling out the woodwork now.
Collectors of debts long forgotten will be showing up
Don’t choo worree, dem government boys will find good, good uses for that unclaimed cash. Pensions and probably a few bars gone missin’.
I was just getting ready to write it up, but you did it better.
Except a minor offset, gold is weighed in Troy ounces which are around 31 grams, not the normal 28 grams per ounce.
I read another article that said he had some bars too. And guns. And a couple of anti-government books. I hope they don’t end up calling him a “terrorist” and confiscating all of it.
In the other article it mentioned other countries (Mexico, Brazil, etc.) where the coins were from. That is good. Another thread about the gold coins in New York had the gov’t decision that since they were U.S. coins, and minted in the 1800’s, they should have been turned in when FDR declared them illegal to own. So the gov’t got all of those!
“17.9 in × 8.9 in × 6.7 in” that’s a shoebox for Andre the Giant’s shoes.
The stuff is really heavy....hold a few gold coins in your hand and the near-universal reaction is “wow, those are heavy!”
And, it’s fun!
Sounds like he was hording his gold even back when doing so was illegal. Prior to December 31, 1974, that is.
Is it being stored at the house in Chicago or has it been sent to Switzerland already?
Sounds like fun to me.
Fun I can’t afford at the moment.
Yeah, they’re in a big hurry to exchange that gold for a bunch of worthless paper. And the long lost cousin they found in California probably wouldn’t know the difference.
At 1200 pounds per cubic foot, that figures to 0.2 cubic feet or 345 cubic inches. A shoe box of 10" by 6" by 6" would be 360 cubic inches. That is a small pair of feet. A typical shoe box could handle this amount.
Heh. Yes. It’s sad that the man was so leery, but it’s wise that he invested.
As for the end-of-the-world publications, IMO, they’re often overly speculative and fearful. Nervousness in the population, on the other hand, is understandable in light of those publications, news of developing problems arriving to us so promptly from around the world, real and gradual economic decline in the West, possible international instabilities in the near future, etc.
I see increases in anti-social behaviors instigating fear and distrust. What’s the world market price of a barrel of courage?
you are awesome
So, this guy earns money that is taxed. With what he has left he buys gold. Now the government wants more tax. I assume they’re talking about an inheritance tax.
It is a miracle these weren’t stolen.
The bars at Fort Knox are about 27# each. So it would be the equivalent of about 9 bars. You could fit it all in a boot box - that you couldn’t lift.
OMG! OMG! OMG!
What does “hoarding” really mean?
I think $7M sounds like a lot, because it is a lot.
Damn Revenoo agents!
I could lift it, but i’ve been working out since you last saw me! let me show, i will lift that box right into the back of my pick-up....
I wonder if the IRS wouldn’t try to claim that the man obtained the money to buy the gold illegally or that he legally made the money, but failed to report it as income making it subject to confiscation by tax evasion.
Gold rush: His cousin, Arlene Magdanz, will likely inherit the entire coin collection, though she hasn't had contact with him in more than a year. She is a substitute teacher.
Read more: http://www.dailymail.co.uk/news/article-2204785/Reclusive-man-Walter-Samasko-died-7million-coins-Nevada-home.html#ixzz26rWosCj3
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