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bar1080

08/09/20 10:42 AM

#175920 RE: janice shell #175907

Many, at first, assumed Samanko's gold came from unsavory sources since he never earned much money and hadn't held a steady job since 1968. His distrust of the government and banks was shared by his mother, so it's likely the stash dates to the 1960s when gold's price was pegged at $35 by the US government, and beat up silver dollars still circulated in Nevada at face value for use in slot machines.

Combine $35 gold with his frugal lifestyle and lawful accumulation of millions was reasonable.

I'll stress that he might have made the same millions with a nice portfolio of blue chip stocks with dividends reinvested. Stock market lore abounds with stories of secretaries and janitors amassing even more money and without the theft risk Samanko's hoard somehow dodged.

https://www.dailymail.co.uk/news/article-2284773/Walter-Samaszko-Half-Nevada-recluses-gold-fortune-kept-garage-auctioned-taxes.html