February 27, 2013 -– Part of the gold coin collection of a deceased recluse netted $3.5 million in an auction in Carson City, Nevada on Tuesday, reported the Associated Press.

The coins represented slightly less than half of the total collection of Walter Samaszko, Jr., was 69-year-old Carson City resident who had passed away unnoticed in his home in 2012. With no known friends or acquaintances, Samaszko’s death was only discovered after his neighbors complained to the city about a strange odor coming from his home. The gold coins were discovered in an old washing machine and the homes crawl space by a professional cleanup crew hired by the city to empty to house.

On Tuesday, many of these coins were laid out in plastic sleeves in a Carson City courtroom, prior to the election. Carson City’s Clerk Recorder Alan Grover stated that only Samaszko’s gold bullion collection was to be offered at auction.

All bidders at the auction were professional coin collectors and dealers.

"They're buying and bidding on an ounce of gold, pure gold by the weight," said Glover, before overseeing Tuesday’s auction.

The city auctioned to coins in order to collect $800,000 in taxes on Samaszko’s estate. After all fees and taxes are paid off, the balance of the $3.5 million will be assigned to his only living heir, Arlene Magdanz, Samaszko’s first cousin and a substitute teacher living in San Rafael, California. She will also receive the balance of the rare coin collection.

Although much of it was made of up gold bullion American Eagle coins, the full collection also included many rare coins including British sovereigns hailing from the 1840s, South African Kruggerands and more than 2,900 Austrian ducats going back to 1915. Of the U.S. gold pieces, some dated back to the 1880. The coins also were kept with a detailed accounting of their purchases dating back to 1964 when gold was about $35 per ounce. This week gold is around $1,600 per ounce.

It is believed that Samaszko’s mother, who lived with him until she died in 1992, purchased most of the coins

The gold bullion coins sold at auction were on display under armed guard, with helmeted and bulletproof vest wearing security watching over the display cases. Additional armed security was stationed at the courthouse entrance.

About 135 pounds of gold were sold at the auction. Coins were grouped into 11 sets based on type, and the sets have been weighed by the ounce. The collections ranged from 24.1 troy ounces to 602 troy ounces.