Monday, September 17, 2012

Nevada Recluse, Found Dead With $7 Million In Gold Bars, Coins In Garage

The police found Walter Samasko Jr's body, after he was dead for probably a month, that's also when they found the gold bars and coins stored in boxes around the property, according to the Las Vegas Sun.

This guy was a very skilled investor--- It appears, he just bet against the Federal Reserve. 

According to reports, he hadn't worked in more than 40 years, but had $7 million in gold stored. It's likely he bought most of his gold when he was working. In the 1970s, the price was as low as $100 per ounce. If we assume this is when he socked away most of his gold, it's possible Samasko could have spent only around $400,000 to buy his gold, since gold has increased by a multiple of 17.6 from that low. If ever there was a poster boy for a buy and hold gold purchase strategy that ignores short-term down turns, it is this guy. Trust gold, not the Fed.

And, as if we needed more proof that Samasko was no fool, he left only $200 in funny Fed money in his checking account.


  1. Let's see, Nevada, isolationist, barbaric relic hoarder... probably one of those crazy Paulians, right?

  2. "Did he die from the Gold Bug"? Sorry I couldn't resist.

  3. Daddy, is that you?

  4. "Totaling at least $7 million altogether, the bars and coins, which bore the hallmarks of mints from around the world, were so numerous they had to be toted out in wheelbarrows, the Sun reports."

    You know some Carson City first responders just added some padding to their pension funds. Whay was reported vs. what was actually there before it was found are two totally different amounts!!

  5. Yeah, I'd rather have 7 million in worthless paper Isaac

  6. That is almost 4000 OZ of gold. $$