Dead Gold Bug Serves as a Warning to Silver Rebels
September 24th, 2012
You may have heard already. It’s been floating around as soft news for about a week. 69-year-old Walter Samaszko Jr. was found dead in his home in Carson City, Nevada surrounded by $7 million in gold bullion. Neighbors say he hated the government, and he collected firearms and conspiracy theory books. So, by every indication he’s a kindred spirit of ours. But here’s the thing… no one knew he had died for over a month, which should be a powerful cautionary tale for the rest of us.
By all accounts Walter was a recluse. He never went to the doctor. He hadn’t worked since 1968, living off his investments. Nobody even knew he was a precious metals enthusiast. I don’t know about you, but I can’t shut up about precious metals. Even my casual acquaintances are going to hear about it.
Walter moved into the house in the 1960s with his mother, which is reportedly when he began hoarding gold. After she died in 1992 he lived alone.
Neighbors called authorities because of a smell emanating from the home, and the coroner determined that he’d died of heart problems at least a month prior. It was the cleanup crew that discovered the gold, stacked in boxes in the garage. They found Mexican dos-pesos, US $20 gold pieces, Austrian ducats, South African Krugerrands and English Sovereigns. Enough gold to fill two wheelbarrows and worth $7 million by weight alone. Some of the coins date back to the 1840s, so they are potentially worth more as collector’s items.
Here’s the part that should serve as a warning to the rest of us. Walter left no will, and had no friends or immediate family. The Carson City Clerk-Recorder had to dig through the guest list of his mother’s funeral to find his next of kin. After the IRS skimmed their $750,000 the remaining gold was inherited by his estranged cousin, Arlene Magdanz, a substitute teacher in San Rafael, California. Imagine getting that phone call? “You’ve inherited millions of dollars in gold from a complete stranger.” His legacy sure sounds like a Nigerian banking scam to me.
I think it’s important for us to keep in mind how important it is to maintain our personal relationships. Because in the end we may be prepping for tribulations we never live to see, and if you die alone in your house with not a friend in the world you don’t get to take your gold with you.
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