Teacher Inherits $7 Million In Gold From Loner Cousin

By Melissa Siegel on December 19, 2012 10:02 AM EST

Gold Coins
A loner had over $7 million worth of gold coins like these tucked away in his house. (Photo: Flickr / digitalmoneyworld)

A teacher has inherited $7 million in gold coins from a long-lost cousin.

According to the Associated Press, a crew sent to clean through the house of Walter Samaszko Jr. found a hidden box of gold coins in the man's garage. The loner's collection included currency from Austria, Mexico and South Africa and was worth over $7.4 million. Some of the coins dated back to the 1800s.

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"He was a hoarder - there was everything inside that home you could think of," Carson City Clerk-Recorder Alan Glover told the Los Angeles Times. "The workers found a crawl space from the garage. That led to everything else."

Officials then had to do some digging to find out exactly who should claim this $7.4 million that this loner left behind. Eventually they found substitute teacher Arlene Magdanz, a first cousin of Samaszko's who inherited the $7 million.

According to NBC News, this loner who left behind $7.4 million likely died around April. Authorities did not even know he had passed until neighbors began complaining about a smell from his home. Police then found Samaszko's body inside. The 69-year-old had apparently died from heart problems, per the Las Vegas Sun.

Indeed, the loner who left the $7.4 million apparently kept to himself. Several of his neighbors told the Associated Press that they had never seen him before, even though he had lived in the same house since the 1960s.

While this loner left behind $7.4 million in gold coins in his house, it seems he did not cash in those profits while he was alive. As the Times notes, Samaszko only had $200 in his bank account at the time of his death.

"He was apparently buying gold from a local coin dealer," Glover told the Times about this loner who left $7.4 million. "We found it in sealed boxes marked 'books.' We also found gold wrapped in tinfoil stored in ammunition boxes. There was just more and more. We found a family silver set with rolls of U.S. $20s and Mexican five peso coins."

In fact, some of the $7.4 left by this loner may have been collected by Samaszko's mother, who lived with her son until her death in 1992. Officials determined that some of the coins were purchased as far back as 1964.

© 2012 iScience Times All rights reserved. Do not reproduce without permission.

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