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Recluse’s gold stash turned into cold hard cash

Later today (August 6), Carson City, Nevada will see a remarkable horde of gold coins go under the hammer.

Saint Gaudens Double Eagle

The Saint-Gaudens $20 Double Eagle holds the record for the most valuable US coin – there are 1,200 of them in the horde

The hidden cache formerly belonged to Walter Samaszko Jr, a reclusive gent who died at his home in June 2012. It was only when a cleaning crew were sent into the modest house to deal with Samaszko’s effects that they discovered boxes and boxes of gold coins and bullion – more than enough to fill two large wheelbarrows.

It appears the secretive Samaszko had been hiding his fortune within the walls of his bungalow for years. The entire stash is now thought by worth up to $7m

Much of the gold bullion was sold at auction in February 2013, raising $3.5m. The coins, of which there 300 $10 gold coins and around 1,200 Saint-Gaudens $20 coins, are thought to be worth $3m, but their condition has yet to be assessed, leaving collectors to decide the true value.

The best part? Samaszko’s closest relative could not be found – until now…

Arlene Magdanz, a substitute teacher working in California, has been identified as  Samaszko’s closest living relative, his first cousin.

She will receive all of the profits from the sale, despite having never met her cousin Walter.

In the meantime, I’ll get looking at my family tree!
Joe

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About paulfrasercollectibles

Expert opinion, news, views and interviews allowing you to collect and invest with confidence.

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