Irishman David Agnew, of Carby Heights in Keady, County Armagh, was arrested at his home on Friday.
Police officers entered his house with a warrant and asked him if there was anything they needed to know about.
The court heard he indicated there was but when questioned further, he replied "you'll have to find it".
A police officer told Newry Magistrates' Court that, during the subsequent search, officers found between €190,000 (£160,000) and €200,000 (£170,000) in a footstool in the living room, and between £40,000 and £50,000 sterling wrapped in bundles of £1,000 in a bedroom.
In the roof space, they discovered 2.5kg of white powder, which tested positive as cocaine.
Police also found a handgun in the roof space, a magazine loaded with five or six bullets and a silencer.
A second silencer was found elsewhere in the house along with a plastic container containing a substance that also tested positive for cocaine.
A police officer told the court that during three interviews over the weekend, Mr Agnew had made no comment.
Mr Agnew spoke only to confirm his name and address and date of birth.
He did not apply for bail and was remanded in custody to appear again via video link next month.
A 39-year-old man has appeared in court charged with having cocaine, a handgun and bundles of cash which the police believe were the proceeds of crime.