Recluse's Estate Auctioned Off For Millions - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Recluse's Estate Auctioned Off For Millions

Posted: Updated:

He only had hundreds of dollars in his bank account, but when he died, millions of dollars worth in coins was found in his garage. 

Walter Samaszko Jr. was a recluse, but he had a fortune in coins.

Tuesday, about half of those coins were auctioned off in Carson City.

Allen Rowe, owner of Northern Nevada Coin purchased the majority of them.

"He was one of the largest holders of gold coins found here in the country. Just an individual that stored coins away rather than storing money. He lived very modestly. Many people who knew him would have thought he maybe didn't have much to live on, yet here he had all this value just stored in his house."

Samaszko Jr. had Austrian Duckets, Canadian Maple Leafs and British Sovereigns stashed away in old, ammunition boxes. The oldest coin is a British Sovereign, with the young, Queen Victoria on it from the 1940's.

There is one heir to the Samaszko Jr. estate. She is a teacher in the Bay Area. Alan Glover, a Carson City clerk recorder, said she will get most of the money from the auction.

"The reason we're selling the coins right now is to meet an obligation to the Internal Revenue Service. We'll be working with them to see what our total tax liability is. After that, whatever is left over, the heir will receive."

In all, more than $3.5 million in coins were sold at the auction.

They plan to sell the other half of coins later this year.

Written by Chris Ciarlo

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.