Teacher Falls Into $7.4 Million Gold Fortune

Monday, December 17, 2012 13:12

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Posted by Brittany Stepniak of the Wealth Wire

Television sitcoms and movies have long incorporated this kind of situation into their plots: a reclusive, mysterious family member hoards millions of dollars, unbeknown to the rest of the world, and leaves it all to the one favored family member.

Except this time, this plot line is an overwhelming reality for the ecstatic substitute teacher from California, Arlene Magdon – lone heir to a gold treasure valued at $7.4 million.

Magdon’s cousin Walter Samaszko Jr., 69, passed away recently after a living quiet, simple life in Carson City, Nevada. His monthly transactions and bank statements were small and he was rather elusive about his wealth according to those who knew him.

According to Alan Glover, Carson City Clerk-Recorder, Mr. Samaszko only withdrew approximately $500 each months from his stock accounts to pay “modest bills.”

Imagine the surprise when officials revealed that he had been hiding over $7 million in gold inside his home! And imagine the joy to Magdon felt once she discovered she was the lone heir to that fortune.

Magdon was found by genealogical researchers after officials discovered that Magdon had no family living in the Carson City vicinity.

The treasure was found when Glover’s crew was ordered to clean up Samaszko’s house and they stumbled upon a luminous stash: several boxes jam-packed with gold coins and gold bullion stored in the garage. Glover has told reporters that there were enough gold coins – some neatly organized and wrapped in foil and plastic cases – to fill two full wheelbarrows!

Additionally, Smaszko owned a 1968 Ford Mustang California Special which appraised for about $17,000. His home sold for $112,500. He had money market, stock and bank accounts totaling $165,570 and $5,330 in other property in the home.

Credit: Wikipedia

Nonetheless, all of his real wealth was maintained in the form of gold coins. Howard Herz appraised all 2,695 coins several weeks ago and he appraised them at more than $7.4 million.

Obviously, when this much wealth is up for grabs other individuals often make false claims, asserting their rights to the assets; especially when gold is part of that equation.

In this case, there have already been several individuals demanding “their gold.” Glover has had to obtain a court order blocking one caller from further communication. So far, no callers have provided any official documentation as evidence to support their claims.

Unless something changes on that front, Arlene Magdon is the sole heir and has plenty to look forward to as the new year approaches.

Article courtesy of the Wealth Wire http://www.wealthwire.com/news/metals/4308?r=1