Auction set for gold fortune amassed by recluse

[jeff of pa]

CARSON CITY, Nev. (AP) — The final treasures of a quiet man who collected a fortune in gold coins will be auctioned off Tuesday in Nevada.
The body of Walter Samaszko Jr. was found in his Carson City home in June 2012. After his death, a cleaning crew hired to tidy his modest, ranch style home where he had lived for four decades came upon a stunning discovery — boxes and boxes full of gold coins and bullion collected over an unassuming lifetime. It was enough to fill two wheelbarrows.
One batch, mostly bullion, was sold at auction in February for $3.5 million. Tuesday's auction at the Carson City courthouse includes more than 2,600 coins to be sold in six lots.

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[Gold Maven]

2,600 coins in 6 lots?

Why would they sell them that way? I think that would really limit the bidders, sounds like some kind of collusion between the auction house and a large buyer, if I had to guess.

Even if they are not rare, they could get a lot more by selling smaller lots.

 

[jeff of pa]

it is also possible some of them would barely reach Gold content value by themselves,
But by selling them this way, When they average things out all sides,
Sellers, Buyers, Auctioneers will come out ahead.
especially the auctioneers who will be able to get out of the place quicker & still
make a fortune.

the auctioneer
should be able to get out of there within an Hour, & still make a Million or more.

If I had found them, I'd still be selling them Piecemeal on Ebay
or at least like to think I would

 

[jeff of pa]

Gold coins of Nevada recluse sold at auction $3.1M

CARSON CITY, Nev. (AP) — The last remnants of a fortune of coins found packed in ammunition boxes in the garage of a recluse who died last summer was auctioned Tuesday for more than $3.1 million — but not before bidders got assurances they could return any of the rare $20 gold pieces that some collectors spotted as counterfeit.
Reno-based Silver State Coin bought three of the six lots offered at the Carson City district courthouse, just a few blocks from the old U.S. Carson City mint. Silver State paid nearly $1.2 million for the most expensive lot that featured 880 $20 gold Saint Gaudens.

http://hosted2.ap.org/PAPOE/aa9398e...d Fortune/id-0956504b275644ecb473a766bf3581a9

 

[Gold Maven]

If I remember right the real estate man found the hoard, I'm guessing he took a little off the top.

How could you resist? Wheel barrow loads of gold coins?

 

[Sheldon J]

2,600 coins in 6 lots?

Why would they sell them that way? I think that would really limit the bidders, sounds like some kind of collusion between the auction house and a large buyer, if I had to guess.

Even if they are not rare, they could get a lot more by selling smaller lots.

+1 what they have done is to remove the small collector / bidder and opened it to the hoarder or someone who will jack the heck out of the price expecting a huge profit on the individual coin resale!!!

If I remember right the real estate man found the hoard, I'm guessing he took a little off the top.

How could you resist? Wheel barrow loads of gold coins?

With out a doubt... Honest real estate agents are more rare than a rainy day on Mars....

 

[Sawyer]

Hey Sheldon J.--How would you compare real estate agents to politicians?

 

[Sheldon J]

Hey Sheldon J.--How would you compare real estate agents to politicians?

What would you call 10,000 politicians at the bottom of the Mariana's trench.... A good start...

Same goes for Lawyers which most Politicians happen to be... Throw in a of Real Estate agents and you have it...

N Please do not get me started on Real Estate agents, Lets keep this on topic...

 

[seekandfind]

What,no relatives anywhere to collect??!!!!!!!!!!!

 

[Night Owl]

I wonder how much he buried
whats the address?
did his family get the profits

 

[Sheldon J]

His Heir a lone school teacher gets it minus legal and auction fees, it is in the story line....

 

[tamrock]

If I remember right the real estate man found the hoard, I'm guessing he took a little off the top.

How could you resist? Wheel barrow loads of gold coins?

Hummm... what would I do if I stumbled across this amount of loot and thought, no one now knows of it and no one would ever know I took it. Who could resist that?

 

[Carson Coin Master]

2,600 coins in 6 lots?

Why would they sell them that way? I think that would really limit the bidders, sounds like some kind of collusion between the auction house and a large buyer, if I had to guess.


























Even if they are not rare, they could get a lot more by selling smaller lots.

I work for the company that bought most of the hoard. The reason the lot was sold in this manner is because it is was requested by the heir to the fortune. She wanted the most amount of money for it as she could get and if the hoard was sold off piece by piece it would have taken forever. Plus since she is a California resident the state is going to take a huge chunk of it in inheritance tax. Also keep in mind that it wasn't some private auction house that sold them off. The state of Nevada did everything by the book in this sale. And since the big buyers did show up (most of them coin dealers) and purchase the majority of the lots it gave us the opportunity to have the coins graded by NGC & PCGS and are now able to market them accordingly. I hope that answers your question, and for what it's worth no one was in cahoots with anyone in this sale.

 

[Sheldon J]

I work for the company that bought most of the hoard. The reason the lot was sold in this manner is because it is was requested by the heir to the fortune. She wanted the most amount of money for it as she could get and if the hoard was sold off piece by piece it would have taken forever. Plus since she is a California resident the state is going to take a huge chunk of it in inheritance tax. Also keep in mind that it wasn't some private auction house that sold them off. The state of Nevada did everything by the book in this sale. And since the big buyers did show up (most of them coin dealers) and purchase the majority of the lots it gave us the opportunity to have the coins graded by NGC & PCGS and are now able to market them accordingly. I hope that answers your question, and for what it's worth no one was in cahoots with anyone in this sale.

Short version is they stand to make a huge profit... Huge CA tax.. With that much at stake I would have moved if I had been her!!!

 

[Carson Coin Master]

Short version is they stand to make a huge profit... Huge CA tax.. With that much at stake I would have moved if I had been her!!!

Oh I agree 100% if millions of dollars were at stake I would uproot my life and move to a different state as well. There's nothing that says you can't move back after the process is finalized.