Teacher unexpectedly inherits $7 million in gold coins from unknown distant relative

Gold coins illustration 
By: Aarav Sen 

(Scroll down for video) A woman unexpectedly inherited millions of dollars worth in gold coins from an unknown distant relative, according to court proceedings.

A substitute teacher from California, was found to be the sole heir to a treasure of gold coins discovered by a cleaning crew at the home of a lonely quiet cousin of more than $7 million after he died this year.

A court hearing is scheduled in Carson City Tuesday, where a judge is expected to certify Arlene Magdanz as the only heir to the treasure worth $7.4 million, which was found in the house of Walter Samaszko Jr., in Carson City, Nevada.

Samaszko, 69, lived a quiet life in the capital city of Nevada, since the late 1960s and apparently no one knew of his wealth.

Records show that after he retired he lived on only $500 per month from investment accounts to pay his modest bills, the public administrator said.

Samaszko apparently had no family in Carson City, so genealogical researchers went to work to find
relatives elsewhere. Arlene Magdanz was found as the only living heir.

A team hired by the public administrator to clean the man's house discovered the stash of gold coins and bars in the garage. More gold was later found around the house.

Appraiser Howard Herz submitted his report after several weeks. A total of 2,695 coins were found which was valued at more than $7.4 million.

"In fact, this turned out to be a very well thought out investment in gold," he wrote.



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