Walter
An auction to sell the second half of the gold collection of Walter Samaszko Jr. is set for Aug. 6 at the Carson City Courthouse.
More than $7 million worth of coins, nearly all of it gold, was found in the Carson City recluse’s home after he died a year ago. No one knew he was wealthy until the cleanup crew sent to empty the Mountain Street home discovered boxes of the precious coins.
The first batch of gold was sold for just over $3.5 million at a February auction, more than $2.68 million of it purchased by Carson City coin dealer Allen Rowe.
Carson Clerk Recorder Alan Glover said he expects more to come from the second sale, given that the first consisted almost entirely of coins basically worth whatever gold metal they contained.
“These are the rated coins,” he said of the upcoming sale. “They’re worth 103 to 109 percent above melt value.”
Glover said he expects “the same players” to sign up for the auction.
“All of them are really high-end,” he said.
Glover said these coins might generate more interest because many of them have numismatic value.
He said the initial estate tax payment of $310,000 was mailed to the Internal Revenue Service after the February auction. He said the IRS has assigned an agent to the case and that he hopes for a full audit so that, after the second auction, the case can be closed out and the rest of the money sent to Samaszko’s only known heir, cousin Arlene Magdanz of San Rafael, Calif.
Magdanz, who has not appeared at any of the hearings, has already received a substantial amount of money, but Glover said the IRS audit will wrap the case up so she has no concerns about any future actions by the federal government.