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CONTEST: The "Coin" or 10% of its value?

braddickbraddick Posts: 23,963 ✭✭✭✭✭
in U.S. Coin Forum
You just won a 'Coin Contest' (Congratulations). You have a choice of two prizes. First, a 1913 Liberty Nickel valued at 2.5 million. Or, you may take a tax free lump of cash in the amount of $250,000.00.
Now, take the coin and the only rule is it must remain with you and your estate for 100 years. You may not sell it or transfer ownership of it to anyone (other than passing it down to your inheritance) under any condition at anytime. You OWN this coin for the next hundred years. After that?
Your children's children's children may do whatever they see fit (one hundred years from now).

The cash you may do whatever you want- NOW, and it's tax free.

So, which is it? The COIN or a ten percent equivalent of it's value?

peacockcoins

Comments

  • PlacidPlacid Posts: 11,299 ✭✭✭
    Cash.
  • dbldie55dbldie55 Posts: 7,731 ✭✭✭✭✭
    For me I think it would be obvious.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • tjkilliantjkillian Posts: 5,578 ✭✭✭
    Cash! Now if you were talking about an 1804 silver dollar, type I, that would be different story...

    Tom
    Tom

  • UncleJoeUncleJoe Posts: 2,536 ✭✭✭
    The 1913 is no big deal to me. I would take the cash and assemble collections that I would enjoy.

    Joe.
  • jtrykajtryka Posts: 795 ✭
    100 years? With my luck my heirs would be idiots and spend it. Besides, if I took the cash and invested it at just 2.5% for the next 100 years I would have almost $3 million, so with the relative equality of the choices, I'd take the cash, so at least I could enjoy it!
  • leothelyonleothelyon Posts: 8,459 ✭✭✭✭✭
    Will the IRS be in on this adventure?

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • RottsRotts Posts: 220
    Gimme the cash.image
    "Be kind, for everyone you meet is fighting a harder battle." Plato



    ....... bob**rgte**
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    Show me the money!!!image
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • ClankeyeClankeye Posts: 3,928 ✭
    Doesn't even seem like a contest to me, Braddick. Why not try the cash, or the coin-- which you have to keep in your possession for at least 5 years. That might cause a dilema for some like me. But, as put to me your way, the cash. Pronto. No kids, wouldn't trust the little buggers if I had 'em.

    Then again, do banks give lines of credit based on the value of a rare coin portfolio? That might make a difference.
    Brevity is the soul of wit. --William Shakespeare
  • BlueColeBlueCole Posts: 365 ✭
    How about i bop you on the head and run off with both?

    B.
    A Fine is a tax for doing wrong.
    A Tax is a fine for doing good.
  • calgolddivercalgolddiver Posts: 1,453 ✭✭✭✭✭
    the coin
    Top 25 Type Set 1792 to present

    Top 10 Cal Fractional Type Set

    successful BST with Ankurj, BigAl, Bullsitter, CommemKing, DCW(7), Elmerfusterpuck, Joelewis, Mach1ne, Minuteman810430, Modcrewman, Nankraut, Nederveit2, Philographer(5), Realgator, Silverpop, SurfinxHI, TomB and Yorkshireman(3)

  • rkfishrkfish Posts: 2,617 ✭✭✭
    Cash!image
    Steve

    Check out my PQ selection of Morgan & Peace Dollars, and more at:
    WWW.PQDOLLARS.COM or WWW.GILBERTCOINS.COM
  • TONEDDOLLARSTONEDDOLLARS Posts: 2,928 ✭✭✭✭
    cash for more coins (toned morgans)image
    Magic Mirrors


    Rainbow Stars
  • goyankeezgoyankeez Posts: 357
    Interesting dilemma. Although I don't collect liberty nickels, I will have to take the coin if only for the rarity. For my entire collection, I try to get the rarest and best quality I can afford, and if given the chance to own this coin I will take it. $250,000 will buy a lot of coins and bring a lot of joy, but to own that nickel is the ultimate collecting experience.
    "Buy the coin, not the holder"

    Proof Dime Registry Set
  • krankykranky Posts: 8,709 ✭✭✭
    Cash, but I'd buy other coins with it. A 1913 Liberty nickel is a wonderful coin, but given the choice between only one coin and $250K to spend on multiple coins, I'm taking the cash.

    First stop would be Heritage or B&M, because I hope I'd get some free donuts there while making my buying selections. image

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • BlueColeBlueCole Posts: 365 ✭
    I still like my idea best.

    B.
    A Fine is a tax for doing wrong.
    A Tax is a fine for doing good.
  • braddickbraddick Posts: 23,963 ✭✭✭✭✭


    << <i>I still like my idea best.

    B. >>



    Upside: You get to own both the cash and the coin!
    Downside: You get to own both for only 12 seconds. image

    peacockcoins

  • lincolnSencelincolnSence Posts: 407 ✭
    I'd take the coin. Then I'd go to a bank and use it for collateral (borrow say $250,000). Then I'd roll the loan until I died and not worry anymore about it. With this coin, I would actually try to complete a set of them.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$


    al h.image
  • kieferscoinskieferscoins Posts: 10,017 ✭
    Cash.

    Cameron Kiefer
  • dddangerousdandddangerousdan Posts: 566
    I already have a lib nic in my type set. I'll take the money and runimage

    DAN
    United States Air Force Retired And Would Do It Again.

    My first tassa slap 3/3/04

    My shiny cents

    imageThe half I am getting rid of and me, forever and always Taken in about 1959
  • gmarguligmarguli Posts: 2,225 ✭✭
    The coin. Can you imagine how many registry set points it would be worth. image

    Actually, I can't imagine $250,000 changing my life that much. I'd take the coin only because it would be nice to give it to the grandkids. It'd be an easier decision if it was a coin I actually liked.
  • goose3goose3 Posts: 11,471 ✭✭✭
    I'd take the coin and Lease it out to registry set participants.image

    really, for 250K, I'd rather pay off my house and put some money away for MY kids and blow the rest on coins!
  • MarkMark Posts: 3,536 ✭✭✭✭✭
    Greg:

    I agree wholeheartedly with you. While $250,000 is a lot of money, many of us will have the chance to accumulate that in our lifetime or even in a few years. however, how many of us will ever own a 1913 V-nickel. To me, there's no choice involved: I'd take the coin.

    Mark
    Mark


  • DHeathDHeath Posts: 8,472 ✭✭✭
    You could always demand payment in 2002 Sacs, and examine each one looking for a MS69.


    Man, can you imagine having to do that?
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • danglendanglen Posts: 1,674 ✭✭✭
    I would go along with LincolnSense's idea. Have your cake and eat it too.
    danglen

    My Website

    "Everything I have is for sale except for my wife and my dog....and I'm not sure about one of them."
  • LanLordLanLord Posts: 11,714 ✭✭✭✭✭
    I would take the coin. The $250k would be nice and could surely make some great additions to my collection, but the nickel would have many rewards due to pride of ownership. Gimme the nik.
  • KlectorKidKlectorKid Posts: 3,723
    image
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>ill take the coin and then sell it for 2.5 mill to buy whatever i want. >>



    Sometimes it's a good idea to read the thread before responding.image

    Me, I'd take the cash.

    Russ, NCNE

    eBay consignment sales | | Collectibles from Resco CCC
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    What LincolnSense said.

    Here's a warning parable for coin collectors...



  • AgflyerAgflyer Posts: 948 ✭✭✭
    You mentioned that the money is tax free, but don't you have to pay state (depends on state) and federal taxes on a prize won, be it a coin, car, house, etc.? At 33% of $2.5 I come up with $825,000. I certainly don't claim to be a tax expert, just a guy who took a finance class in college once. IMO it would be a lot easier to take the tax free money, put it in some low risk mutual fund, take the interest earned and have a fund that would buy me coins for the rest of my life. Just a thought. . . image
    I've had great transactions with people like: drwstr123, CCC2010, AlanLastufka, Type2, Justlooking, zas107, StrikeOutXXX, 10point, 66Tbird, and many more!
  • barrytrotbarrytrot Posts: 759 ✭
    This thread is interesting and I'd take the $ in the case of the 1913 Nickle.

    However, thats only because I don't happen to enjoy that coin.

    If it was the $ or 2.5 mill of coins I do like or even 1 mill for that matter, I'd definitely take the coins without a thought.

    I may desire more money but I technically have enough. I also have more than enough coins image but I get a good deal of pleasure from each new one, especially collection makers like 1 to 2.5 mill of coins would be!

    As several have mentioned: More money is cool and you can spend it and enjoy it for a while but 250k isn't really going to alter reality for you. However, since most on this board LOVE coins a 2.5 mill worth of some killer coins would be a source of pride and joy DAILY for the rest of their lives and if they have a child that likes coins for a good part of their life.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    responding to a lot of the posts

    i'm 47 years old and i can GUARANTEE that $250K would alter my life! where do i start? well, how about never have to work again........

    al h.image
  • presleyhpresleyh Posts: 516
    What imaginary torture you have created, braddick! I will be awake all night wondering which path to take only to realize neither will be there in the morning. I think i will go get a lottery ticket instead.
  • barrytrotbarrytrot Posts: 759 ✭
    keets,

    You are right. For YOU 250k is a life changer. And, I suppose for any of the board that is nearing retirement a shot in the arm of 250k would put them over the edge.


    However, for those of us that are still looking at 20 more years 250k will come and go before we know it.

    I guess, the question would depend a lot on how much you make. If you make under 50k then 250k is 5+ years, if you make over 100k then its 2.5 or less years.
  • MrLeeMrLee Posts: 1,847 ✭✭✭
    The Coin or the Cash. The Cash .....or the Coin. Cash or Coin. Coin or Cash. Coin. Cash. CoinCashCoinCashCoinCash.......Wait! The Cash No! The Coin!!..........................Ahh Ahh Ahhhhhhh. I CAN'T DECIDE!!!
  • NicNic Posts: 3,365 ✭✭✭✭✭
    The coin please. Too big a spread to consider cash. I hope I meet my grandchild that gets it...my sons 17mo.'s and says "coin"while on my lap looking at catalogues! K

    My 1866 Philly Mint Set

  • 66Tbird66Tbird Posts: 2,858 ✭✭✭
    I like the lincolnSence idea. Would that really work???????
    Need something designed and 3D printed?
  • GilbertGilbert Posts: 1,533 ✭✭✭
    Holding the coin for 100 years is the kicker. It's too big of a gamble. We may not even be around, and if so, coins may be insignificant outside of a museum. I'll take the known and leave the unknown to those who are in a better position to "not bat an eyelash" at the $250K. I wonder if any of the great collectors had been required to hold any of their coins for 100 years, would have still been interested in getting them. I think it's a tougher question than it appears on the surface, but, I also think that since it isn't bound to happen to anyone of us, we can just answer it without impunity.


    BTW, can you imagine the inheritance tax on that sucka'? Hopefully the inheritors will be in a position to keep the IRS from becoming the new owner. image
    Gilbert

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