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Nevada man dies with $200 in bank, $7M in gold inside home
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Nevada man dies with $200 in bank, $7M in gold hidden inside home
A Carson City, Nev., 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.
Read more: Link
A Carson City, Nev., 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.
Read more: Link
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"Glover said he wants to start selling off the gold as soon as possible. The IRS wants a share of the total, he said, and the case is relatively simple other than the agency's involvement."
IRS has to get its share.
Member, Society of Silver Dollar Collectors.
Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
<< <i>I would rather have companionship >>
7 million will buy a lot of companionship.
for anyone to get anything? Sounds stange, unless Nevada is a very generous state?
``https://ebay.us/m/KxolR5
i think the over-riding point is that it didn't buy him ANYTHING. it is sad, indeed, to think of all the people who shut themselves off from the world, focus on material things and shun medical help. i often think of what a friend says-----"I used to use people and love things, but I've learned to love people and use things." though this gentleman was only 69 years old, these types of stories about the generation that lived through the depression are all too common.
his wife ride a buss to the hospital to get a major operation - died with
like 10 mill in a stock account.
<< <i>Bizarre, weird and strange. Geez, go get an SDB, so when you are dead, you don't have investigators going through your stuff and claiming 7 million in gold found. >>
Not likely he would trust a bank to safeguard his gold when he had a whopping $200 in his account.
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>
<< <i>Bizarre, weird and strange. Geez, go get an SDB, so when you are dead, you don't have investigators going through your stuff and claiming 7 million in gold found. >>
Not likely he would trust a bank to safeguard his gold when he had a whopping $200 in his account. >>
I agree.
My grandparents (b. 1904 and 1909) kept most of their savings in $20 Saints in their home during the depression. Most were stolen by a maid. Even after that they didn't much trust banks.
Being debt free allows a calm to wave over you, when you think about it, that probably added years to his life.
Buying only stuff doesn't provide that.
peacockcoins
their behavior of coin collecting, they would likely be painted as "a hoarder, tight" or even worse, "overly cautious."
How many of you trust the banks with your "savings"or "winnings"?
<< <i>Bizarre, weird and strange. Geez, go get an SDB, so when you are dead, you don't have investigators going through your stuff and claiming 7 million in gold found. >>
I'm not sure what the good in this is if you're dead.
-D
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
If so, what's the big deal?
peacockcoins
In God We Trust.... all others pay in Gold and Silver!
Doggedly collecting coins of the Central American Republic.
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<< <i>The guy had 12K in cash in his apartment and $200 in the bank. I would not assume that he was "cheap". Just eccentric, and scared of banks and the government. Funny thing is that with every day that passes, his fears seem more justified. >>
Most of the time i just deposit money in the bank as needed to cover checks written.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
Not really.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Interesting story. Even more is the posters that want to see an extreme in behavior when if their own friends or family were to describe
their behavior of coin collecting, they would likely be painted as "a hoarder, tight" or even worse, "overly cautious."
How many of you trust the banks with your "savings"or "winnings"? >>
If you won $200 mil in the lottery, where would you keep it? How many different accounts would it take to be assured of 100% FDIC protection?
"He never went to a doctor," Glover told the newspaper. "He was obsessed with getting diseases from shots."
According to the article, Glover is the Carson City Clerk-Recorder.
Question (for no one in particular): Does the clerk-recorder where you live know about your medical history?
<< <i>The guy had 12K in cash in his apartment and $200 in the bank. I would not assume that he was "cheap". Just eccentric, and scared of banks and the government. Funny thing is that with every day that passes, his fears seem more justified. >>
Wonder when his last gold purchase was and how he transacted it.
-KHayse
<< <i>Kind of an odd comment in the article linked in the first post...
"He never went to a doctor," Glover told the newspaper. "He was obsessed with getting diseases from shots."
According to the article, Glover is the Carson City Clerk-Recorder.
Question (for no one in particular): Does the clerk-recorder where you live know about your medical history? >>
"They" know virtually everything about everyone. It is a scary thought. Scarier is what will happen to with all that information when the totalitarian hammer swings, as it tends too when there is that much power in the hands of an elite few that show open disdain for the wishes of the people.
The more sober thought is that when the body was found dead, an autopsy was performed as a matter of routine procedure, to see if there might have been foul play such as poison.
It is interesting to see how some folks think this guy was okay and that all that gold brought him some peace of mind. I would tend to vote for a case of mental illness. If I were to guess, I'd guess that guy was extremely cheap in many ways, with very few friends. If I were to continue guessing, I would guess the guy was afraid of a lot more than banks, and rarely had good days, with a lot of his time spent being scared and/or angry. I"m just guessing of course, but so are those that think they guy lived an otherwise reasonable life while stockpiling $7 million worth of gold and winding up having the county clerk dispose of his estate. To me it is a sad case, but others obviously have other opinions.
Plenty of people spend money on hobbies, travel, eating out, living their lives, I doubt the guy in the story was one of them. Balance is a good thing, and the guy in the story seems badly out of balance. It was likely a life ruled by fear and anger, with no joy, and no light. Again, I'm guessing, but I have done a lot of volunteer work with people that struggle with depression, anxiety, and anger management so I know a lot more than most on the forum about the subject. I am not surprised that the story finds a warm spot with some of those that hang out on this forum and the PM forum, but that only reinforces my view of coin collectors and dealers (and it is the bad view).
yearbooks.
I would like to know how the IRS even knows about this. Did the State or City notify them?
He only just passed in June.
We do have laws here and the Clerk and Recorder has no business in his business. It belongs
to an heir and they must legally search for that heir. Only after an exhaustive search and many
notices in newspapers in Carson and anywhere they expect an heir to live (San Raphael) and
then the passing of 5 years with yearly notification via all major Nevada newspapers can the
state take claim to the personal property. I think, and I'm no lawyer, the IRS has just got to
wait. Hopefully a heir can be found this year as I think $5 million is tax free and next year
it drops to $1 million tax free. The IRS would be smart in waiting on this and not putting any
pressure on anyone to do anything.
Dang, that's a lot of gold.
I do hope that someone hires a private detective service to locate an heir for him. Heck he
may have siblings and just did not communicate with them. Wonder where he's from, originally.
bob
Edited for Sanction: Nevada does not have a death tax or inheritance tax nor does Carson City that
I'm aware. The Feds are the only ones involved. Nevada has no State income tax either, and same
with CC.
When I read this kind of story I always think that the person didn't accept their own mortality.
Like they were saving for the future and thought it will go on forever.
<< <i>When I read this kind of story I always think that the person didn't accept their own mortality.
Like they were saving for the future and thought it will go on forever. >>
Apparently he was going to start living it up at age 90. LOL.
<< <i>Crap, that's my town and I didn't even know the guy!! Did not go to school there per my
yearbooks.
I would like to know how the IRS even knows about this. Did the State or City notify them?
He only just passed in June.
We do have laws here and the Clerk and Recorder has no business in his business. It belongs
to an heir and they must legally search for that heir. Only after an exhaustive search and many
notices in newspapers in Carson and anywhere they expect an heir to live (San Raphael) and
then the passing of 5 years with yearly notification via all major Nevada newspapers can the
state take claim to the personal property. I think, and I'm no lawyer, the IRS has just got to
wait. Hopefully a heir can be found this year as I think $5 million is tax free and next year
it drops to $1 million tax free. The IRS would be smart in waiting on this and not putting any
pressure on anyone to do anything.
Dang, that's a lot of gold.
I do hope that someone hires a private detective service to locate an heir for him. Heck he
may have siblings and just did not communicate with them. Wonder where he's from, originally.
bob
Edited for Sanction: Nevada does not have a death tax or inheritance tax nor does Carson City that
I'm aware. The Feds are the only ones involved. Nevada has no State income tax either, and same
with CC. >>
Why is the recorder selling coins to satisfy the tax obligation? I would think that would be the responsibility of the heir along with advice from an attorney/accountant and someone knowledgeable about the numismatics involved.
<< <i>7 million will buy a lot of companionship.
i think the over-riding point is that it didn't buy him ANYTHING. it is sad, indeed, to think of all the people who shut themselves off from the world, focus on material things and shun medical help. i often think of what a friend says-----"I used to use people and love things, but I've learned to love people and use things." though this gentleman was only 69 years old, these types of stories about the generation that lived through the depression are all too common. >>
If he were 69, he didn't live through the great depression or did you mean the current depression? People with that much gold probably slept quite well at night knowing they had financial security and he was probably quite content living a modest lifestyle. He probably conducted much of his business using cash. If I won a big lottery I doubt that I would buy a bunch of cars, yachts, etc. My lifestyle would change very little but I could buy some really nice coins for my collection.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Interesting story. Even more is the posters that want to see an extreme in behavior when if their own friends or family were to describe
their behavior of coin collecting, they would likely be painted as "a hoarder, tight" or even worse, "overly cautious."
How many of you trust the banks with your "savings"or "winnings"? >>
If you won $200 mil in the lottery, where would you keep it? How many different accounts would it take to be assured of 100% FDIC protection? >>
What kind of interest (which is taxed) do most bank accounts pay. Does the FDIC protect your money from inflation? These are rhetorical questions---just trying to make the point that saving money in the form of gold isn't an unreasonable option in times of economic turmoil. This guy would have fitted in well in the Precious Metal Forum.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>When I read this kind of story I always think that the person didn't accept their own mortality.
Like they were saving for the future and thought it will go on forever. >>
Apparently he was going to start living it up at age 90. LOL. >>
He was 69. That's not exactly ancient. People regularly live well into their 90's. This guy reminds me of Lavere Redfield who had a huge hoard of silver dollars when he died. His coins were sold in special plastic slabs with his name printed on it and these coins with the special slabs are quite collectible. I wonder if this hoard will be slabbed in a special holder by one of the major grading services and then hyped accordingly by a marketeer.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I don't know if I would sleep that well knowing that much of my wealth was in the garage. What if he had a fire. Could you see that gold flowing down the driveway into the gutters (streets paved with gold)? I would suspect that amount of gold was purchased by his family and passed down through the generations. Some of that gold may have even be obtained at face value. Wouldn't that be nice.
In God We Trust.... all others pay in Gold and Silver!
So you would have done something different with $7M? Good for you. But generally the simpler you can keep your life the less you have to worry about.
--Jerry
I had a great security system once until somebody stole it.
And the apparant lack of family and relatives seems to bolster that position.
It's a shame that the real winner here will be the state..as he probably also left no will...or at least no will that anyone can find.
<< <i>To me, this reads more like a "mental illness/hoarding" sad mental state type of article...rather than a "Gee...this guy was really happy, well adjusted and secure."
And the apparant lack of family and relatives seems to bolster that position.
It's a shame that the real winner here will be the state..as he probably also left no will...or at least no will that anyone can find. >>
There is apparently one relative, but if that person wasn't named in a will [looks like he died intestate] doesn't the state say how his estate is divided?
They also had their house full of newspapers (all Wall Street Journals) and about 20 cats and three rusted out cars in the driveway.
They seemed to be so poor, in fact, that they frequently asked my mother to take them to the local medical clinic...where the husband once violently objected because he had to make a $5 co-pay for his wife's flu shot.
Well, when they died, similar situation...no family left...so their longtime lawyer suddenly showed up (we didn't even know they could afford one) in the middle of the night that the husband died and started hauling out boxes and boxes or materials. We know it was their lawyer because we called the police thinking somebody was burglarizing the house.
So would anyone like to guess why a lawyer might feel it necessary to run over to a recently decreased person's house who died without any heirs?!?
And, oh yeah, their "trusted" lawyer also had all their kitties trapped and hauled off to the nearest pound to be put to sleep. Good stuff, no?
<< <i>
<< <i>
<< <i>Interesting story. Even more is the posters that want to see an extreme in behavior when if their own friends or family were to describe
their behavior of coin collecting, they would likely be painted as "a hoarder, tight" or even worse, "overly cautious."
How many of you trust the banks with your "savings"or "winnings"? >>
If you won $200 mil in the lottery, where would you keep it? How many different accounts would it take to be assured of 100% FDIC protection? >>
What kind of interest (which is taxed) do most bank accounts pay. Does the FDIC protect your money from inflation? These are rhetorical questions---just trying to make the point that saving money in the form of gold isn't an unreasonable option in times of economic turmoil. This guy would have fitted in well in the Precious Metal Forum.
If your lump sum payout was say $75 million, would you demand cash? Normally they pay by wire transfer so the money has to go somewhere initially. I wouldn't keep it in a bank account very long. Converting it to gold over time wouldn't be such a bad idea. Hard to do without leaving some sort of tracks.