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If you won $100 million from the lottery...

tightbudgettightbudget Posts: 7,299 ✭✭✭
in U.S. Coin Forum
Would you buy out an entire coin auction by a major auction house just to make numismatic history? For example, would you clean out an entire January FUN sale conducted by Heritage if it meant spending about $70 million?

P.S., the $100 million is after taxes. And yes, you must buy everything regardless of how ridiculous the reserve amounts are.

Comments

  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭
    No...I wouldn't want to make numismatic history by doing something stupid. image
  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
    no
    image
  • coachleonardcoachleonard Posts: 995 ✭
    no but i'd try to buy some rare colonials and patterns!
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭


    << <i>no but i'd try to buy some rare colonials and patterns! >>


    image

    image
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    No but I'd definitely get into High Grade Morgans or Trade Dollars!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • AU58WALKERSAU58WALKERS Posts: 3,562 ✭
    not hardly
    "Everyday above ground is a good day"

  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I'd call Walt and find out where that MS70 Jefferson dollar is or if RYK has beat me to it. --Jerry
  • COALPORTERCOALPORTER Posts: 2,900 ✭✭
    No, I'd pass on the ANACS "details" and NCS/NGC conserved junk.
  • dogwooddogwood Posts: 1,935 ✭✭✭✭
    Yes. Yes I would do that, and I'd call it the Dogwood Collection. And people would wish they were me. It would be great fun, and since I like coins a lot I would try to make the most of my purchases by looking at them all the time. And I could have lots of free time to spend with my new coins because my wife would have taken the other 30 Mil and moved to a Santa Barbara Estate where she could be rid of the fool who wasted his fortune.
    We're all born MS70. I'm about a Fine 15 right now.
  • LeeBoneLeeBone Posts: 4,582 ✭✭✭✭✭
    No...I would upgrade my Morgan Set image
  • thestigthestig Posts: 769
    Humblepie

    I have found power in the mysteries of thought.

    It is always a question of knowing and seeing, and not that of believing.

    Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.

    .
  • thestigthestig Posts: 769


    << <i>No, but I would go to a fun show, and buy every table. Then send every dealer home with the shirt on the back, and a pocket full of cash.image >>

    Humblepie

    I have found power in the mysteries of thought.

    It is always a question of knowing and seeing, and not that of believing.

    Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.

    .
  • seatedcoinsseatedcoins Posts: 1,096 ✭


    << <i>No...I wouldn't want to make numismatic history by doing something stupid. image >>


    image
    Trustworthy BST sellers: cucamongacoin
  • TavernTreasuresTavernTreasures Posts: 1,262 ✭✭✭
    It would give the new millionaire a lot of publicity to do that. It would not be my style. Selecting the right auction to buy out would be very important. Such as an auction containing only coins from a famous high quality collection.
    Advanced collector of BREWERIANA. Early beer advertising (beer cans, tap knobs, foam scrapers, trays, tin signs, lithos, paper, etc)....My first love...U.S. COINS!
  • YaHaYaHa Posts: 4,220 ✭
    Again I would wipe my horses rear with $100 bills for about a year and tell the plumber that there is a million dollars in my septic system. If he would find the one $100 bill with the red X on it I would give him another cool Million. The catch is no scuba gear and he has only 5 minutes.image
  • LincolnsRuleLincolnsRule Posts: 1,738 ✭


    << <i>Would you buy out an entire coin auction by a major auction house... >>



    YES!!!!! And then submit everything (or most everything) to the grading companies for downgrade! I'd force them to buy the overgraded junk.
  • CB2597CB2597 Posts: 3,042
    I will just purchase the one or two that everybody else wants. Then give them to charity for their own benefit auction. image
  • PerryHallPerryHall Posts: 46,799 ✭✭✭✭✭


    << <i>No...I wouldn't want to make numismatic history by doing something stupid. image >>



    True. So very true. image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • laserartlaserart Posts: 2,255 ✭
    with that much money why would you even consider it? I'd have so many new found interests coins would be the last thing on my mind.
    "If I had a nickel for every nickel I ever had, I'd have all my nickels back".
  • speetyspeety Posts: 5,424 ✭
    Nope, but TDN would recieve a rediculous offer for his set! image
    Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!

  • RedTigerRedTiger Posts: 5,608 ✭


    << <i>No...I wouldn't want to make numismatic history by doing something stupid. image >>



    I agree. I believe that a person doing this would be seen as an all time dweeb, and remembered forever for that. It might lead to a big run at the Ferrari dealerships as the coin dealers laugh all the way to the bank. Once word got out that someone was buying up all the lots, some might try to game the auction and run the prices up to double or triple market value for their friends with lots for sale. Same with buying out inventory at a bourse, once word got out, dealers would up their ask and hope the fool hits it, and keep doing so as the fool goes table to table. Big dealers didn't get that way without being a good judge of people. When the deep pockets newbie walks into range, they often can smell it a mile a way, and call the Ferrari dealer to reserve a new car to buy image

    Personally, coins would be way down the list, if I got a big windfall such as a huge lotto prize. Initially, I likely spend less than $10,000 on coins in the first few months, until I think things through and what my options are. I would ask myself, why tie myself down with coins that may be hard to sell and/or that only have a wholesale value of 80% or less of what I am paying retail? Ego? The need to see more dealers get more Ferraris?
    Investment blog: gold, stocks and more
  • 291fifth291fifth Posts: 24,670 ✭✭✭✭✭
    I would buy up every top pop ultra modern at record prices!image
    All glory is fleeting.
  • WalmannWalmann Posts: 2,806 ✭
    That would akin to winning the old Gong Show. Thats making the kind of history that few would know and soon(in long term) will be forgotten.
  • BAJJERFANBAJJERFAN Posts: 31,255 ✭✭✭✭✭


    << <i>

    << <i>No...I wouldn't want to make numismatic history by doing something stupid. image >>



    I agree. I believe that a person doing this would be seen as an all time dweeb, and remembered forever for that. It might lead to a big run at the Ferrari dealerships as the coin dealers laugh all the way to the bank. Once word got out that someone was buying up all the lots, some might try to game the auction and run the prices up to double or triple market value for their friends with lots for sale. Same with buying out inventory at a bourse, once word got out, dealers would up their ask and hope the fool hits it, and keep doing so as the fool goes table to table. Big dealers didn't get that way without being a good judge of people. When the deep pockets newbie walks into range, they often can smell it a mile a way, and call the Ferrari dealer to reserve a new car to buy image

    Personally, coins would be way down the list, if I got a big windfall such as a huge lotto prize. Initially, I likely spend less than $10,000 on coins in the first few months, until I think things through and what my options are. I would ask myself, why tie myself down with coins that may be hard to sell and/or that only have a wholesale value of 80% or less of what I am paying retail? Ego? The need to see more dealers get more Ferraris? >>



    Well there are lottery winners who have squandered their fortune and done worse; like the older dude in Ohio I think who won $350 mil and is now broke (and I believe broken as well). I'd not buy an entire auction just because I could. First you would need to get pre-approved to bid and then the cat would be out of the bag and the manipulators would start manipulating. I doubt that you would ever be able to get your $$ back on the dregs and since most of the nice stuff is already squirreled away, most of what you would get would be junk. I'd buy lots of nice coins in my series cuz I like them and in a few other series as well. Things like fancy trips n cars would be way low on my list; aint worth ownin a fancy car here IMO cuz the roads suck. Some of those European beaches mite be kinda nice, but you wouldn't need to be rich to go. Most of the things I'd like to do can be done for less than the current price of a 93-s Morgan in G6.
    theknowitalltroll;
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    No.. but I would build my dream log cabin in the mountains... and admire my coin collection while sitting in front of my fireplace. Cheers, RickO
  • BBQnBLUESBBQnBLUES Posts: 1,803 ✭
    Buy up ALL the Pan-Pacific $50 Gold rounds & go skeet shooting image
  • TavernTreasuresTavernTreasures Posts: 1,262 ✭✭✭
    If you had 100 million in the bank you probably could make enough money on interest to buy a major coin every week and still have your original money.
    Advanced collector of BREWERIANA. Early beer advertising (beer cans, tap knobs, foam scrapers, trays, tin signs, lithos, paper, etc)....My first love...U.S. COINS!
  • BECOKABECOKA Posts: 16,961 ✭✭✭
    No but I would definitely get a lot more eye candy. image
  • BobaFett72BobaFett72 Posts: 7,304
    I wouldnt spend a dime on coins or cards. Way too many people in the world to help out. Start up some community organizations; replenish some food banks, start some businesses, put some people to work. I'd put 25% aside for me and my family; the rest could go a long way to help a lot of folks.
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    I think that I'd gain my 15 minutes of numismatic fame by buying THIS and investing the rest, so I'd never have to swing 12hr. shifts in a factory again!

    Regards, John

    Edited to add . . . I'd also probably crack'um out & put them back where they belong! ! !
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • BAJJERFANBAJJERFAN Posts: 31,255 ✭✭✭✭✭


    << <i>I wouldnt spend a dime on coins or cards. Way too many people in the world to help out. Start up some community organizations; replenish some food banks, start some businesses, put some people to work. I'd put 25% aside for me and my family; the rest could go a long way to help a lot of folks. >>



    While I would do some charitable giving, I don't think I'd get THAT carried away. The first order of business mite be to hire a trusted security guard. Didn't that old guy who ended up broke and broken say that he was threatened with physical harm when he refused the countless requests from people on the street who demanded money? There is a cuple here in Iowa who won a large jackpot. I heard that their local PD advised them to hire their own security service cuz they got tired of the constant calls.
    theknowitalltroll;
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>Yes. Yes I would do that, and I'd call it the Dogwood Collection. And people would wish they were me. It would be great fun, and since I like coins a lot I would try to make the most of my purchases by looking at them all the time. And I could have lots of free time to spend with my new coins because my wife would have taken the other 30 Mil and moved to a Santa Barbara Estate where she could be rid of the fool who wasted his fortune. >>



    imageimage
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • BAJJERFANBAJJERFAN Posts: 31,255 ✭✭✭✭✭


    << <i>If you had 100 million in the bank you probably could make enough money on interest to buy a major coin every week and still have your original money. >>



    At 2% in a money market, $100 mil would generate $2 mil a year or $38,461 a week before taxes.
    theknowitalltroll;
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    At 2% in a money market, $100 mil would generate $2 mil a year or $38,461 a week before taxes.

    Yep, definately have to quit the salt mine!

    With that kind of $ $ $ I'm sure one could safely get more than 2%.
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • direwolf1972direwolf1972 Posts: 2,076 ✭✭✭
    No but I would dump a LOT into both a stupid sweep Dansco 7070. That and a few Judd paterns.
    I'll see your bunny with a pancake on his head and raise you a Siamese cat with a miniature pumpkin on his head.

    You wouldn't believe how long it took to get him to sit still for this.


  • MFHMFH Posts: 11,720 ✭✭✭✭

    No, I certainly wouldn't buy out an entire auction catalog - but I sure would
    be looking at some serious upgrades to my sets.

    I might even start another set or two...image
    Mike Hayes
    ~~~~~~~~~~~~
    Coin collecting is not a hobby, it's an obsession !

    New Barber Purchases
  • fastrudyfastrudy Posts: 2,096 ✭
    10% gold, 90% rarities? No, 20% gold, 80% rarities?
    No, 100% wine, women and song? YES YES
    Successful transactions with: DCarr, Meltdown, Notwilight, Loki, MMR, Musky1011, cohodk, claychaser, cheezhed, guitarwes, Hayden, USMoneyLover

    Proud recipient of two "You Suck" awards
  • pursuitoflibertypursuitofliberty Posts: 7,272 ✭✭✭✭✭
    Nope, but TDN would recieve a rediculous offer for his set!


    I wasn't thinking about TDN (although thats a good idea image), but my thought was very similar.


    Hey Sunnywood ... got quarters? image

    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • BAJJERFANBAJJERFAN Posts: 31,255 ✭✭✭✭✭


    << <i>At 2% in a money market, $100 mil would generate $2 mil a year or $38,461 a week before taxes.

    Yep, definately have to quit the salt mine!

    With that kind of $ $ $ I'm sure one could safely get more than 2%. >>



    I spose but thats a fairly typical return in today's market; I'd guess a simple passbook account at a bank pays a lot less than that. A mil in a MM account would barely generate enough to live above the poverty level at today's rates.
    theknowitalltroll;
  • garsmithgarsmith Posts: 5,894 ✭✭
    No, I would quit my job, pack my bags and retire to the Philippines early.
  • BBQnBLUESBBQnBLUES Posts: 1,803 ✭
    On 2nd thought...

    I'd move to Beverly Hills, buy a big house with one of them thar new fangled "Cement Ponds" & have eveyone over for a BIG BBQ !!!!

    ps. I'd throw in the pool a few rare coins & let the CU members Dive for their Gold image

  • BAJJERFANBAJJERFAN Posts: 31,255 ✭✭✭✭✭


    << <i>On 2nd thought...

    I'd move to Beverly Hills, buy a big house with one of them thar new fangled "Cement Ponds" & have eveyone over for a BIG BBQ !!!!

    ps. I'd throw in the pool a few rare coins & let the CU members Dive for their Gold image >>



    Then I'd freeze the effer solid.image
    theknowitalltroll;

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