If you won a $225 million Powerball, how much would you spend on coins?

gyocomgd · January 20, 2006 3:05PM

I have a feeling you could put me down for $10 million easy. My nickname would be "Finest known."

DickyBetz · January 20, 2006 3:08PM

$50,000,000 at least. Probably more.

XpipedreamR · January 20, 2006 3:11PM

As much as I felt like spending.

added: In other words, millions...10? 20? 30? more? I am quite sure my modest tastes would expand along with my checkbook

Bailey1977 · January 20, 2006 3:12PM

A moderate 5 million.

RedTiger · January 20, 2006 3:26PM

I'd blow a couple of thousand for kicks, before thinking long and hard about what I want my life to look like and how to get there with the resources available. Having a large, very expensive coin collection may or may not fit in with that vision--probably not.

F117ASR · January 20, 2006 3:28PM

I would buy all of the sacagawea's made that year, melt 90% of them, and sell the rest at an insane price.

p8nt · January 20, 2006 3:30PM

I wouldnt have a set amount. Considering that I have my whole life ahead of me, I would want to save most of the money. It doesnt mean I wouldn't have fun with it, but I probably wouldnt be spending millions on coins. I would probably spend about the same amount I spend now.. maybe a bit more.

Cladiator · January 20, 2006 3:33PM

200 Million

coynclecter · January 20, 2006 4:08PM

I would concentrate on buying whole collections or hoards so as not to just run off bidding up prices on all kinds of stuff.

coinnut86 · January 20, 2006 4:28PM

to be quite honest I dont have any idea how much would be spent on coins... theres too many people that I would want to give a nice chunk of the 250 mil away to... family and friends come before coins. I can say that it wont be more than 1 mil

coinlieutenant · January 20, 2006 4:31PM

Probably around 10 million... It would take me a LONG time to spend 10 million.

J

ILikeDimes · January 20, 2006 5:07PM

<< I wouldnt have a set amount. Considering that I have my whole life ahead of me, I would want to save most of the money. It doesnt mean I wouldn't have fun with it, but I probably wouldnt be spending millions on coins. I would probably spend about the same amount I spend now.. maybe a bit more. >>

ha ha ha...............150 mil (net)would last many lifetimes.........save it?......LOL

ms70 · January 20, 2006 5:45PM

I would seek out the finest known 1792 half disme & pay the price for it. Since being the owner of one of them ( in any condition ) is the ultimate goal in my hobby life I've never given thought to what would come next.

fc · January 20, 2006 6:36PM

i would probably have to rethink what coins i would want to collect.
with that kind of money, nothing is out of reach.
easy million or two on super deluxe finest known half eagles.

TorinoCobra71 · January 20, 2006 7:34PM

After taking care of my financial respnsibilites and a little charity donation, I would probably go nuts until my accountant shut me down!

TorinoCobra71

FullStrike · January 20, 2006 9:25PM

<< I have a feeling you could put me down for $10 million easy. My nickname would be "Finest known" >>

"Finest known" what?

Kidding.

If a serious buyer actually did show up for that Coin, I think the price wouldn't be $10,000,000.00 after all. The story would be, " well, we just thought that might be a good starting point - now the price would probably be closer to $25,000,000.00 ".

PerryHall · January 20, 2006 10:22PM

<< Probably around 10 million... It would take me a LONG time to spend 10 million.

J >>

Not me. I'd buy the King of Siam proof set and the Specimen 1794 dollar which would wipe out the $10 Million real fast.

robertpr · January 20, 2006 11:16PM

Assuming after tax it would come roughly to $113 Million, or half, you could put it in the bank at a measly 4% interest rate and still walk away with a cool 4.52 mil per year. So that's what I would do.

Now, I could easily live on only 2 mil a year. Maybe slightly more in the first year as I upgrade to a nice house and a nice car perhaps. So, I would maybe put a million into coins each year and bank the rest so next year I will earn more.

Naturally, the interest rate would be greater than 4% but I am assuming the taxes would take it down to about that level.

BAJJERFAN · January 20, 2006 11:24PM

A lump sum payout on 225 mil would be about 120 mil then taxes on top of that so you mite end up with 70 mil net. At my age I would take the lump sum. I would set aside a third for family and a rainy day then spend the rest on fun coins or whatever. I would retain a few secret agents to do my serious coin buying for me.

busco69 · January 20, 2006 11:29PM

I would spend about 1/4 of it on coins.

CoinResource · January 20, 2006 11:39PM

224 million. ;-)

cullenbryant · January 20, 2006 11:57PM

i'd come to the coin show flossin so much cash
dealers would be selling like border town hustlers

ahhhhh... it would be nice

TOMCATTOM · January 21, 2006 12:04AM

<< 

<< Probably around 10 million... It would take me a LONG time to spend 10 million.

J >>

Not me. I'd buy the King of Siam proof set and the Specimen 1794 dollar which would wipe out the $10 Million real fast. >>

NOT IF I GOT THERE 1ST THAT'S WHAT I WOULD BUY THE SIAM SET AND EVERY RAINBOW TONED MORGAN ANACONDA OWNS

marmac · January 21, 2006 12:09AM

With $225 Million I would dissappear off the grid, buy real estate in a couple choice locations based on where I would love to live at different times of the year. First order of business would be to build a walk in Safe with display cases and great lighting, temperature controlled.Then I would take ten million and build an unc set of half cents, and bust halfs, finished my Morgan dollar set,....build an incredible Numismatic library,.....wow what a pipe dream. Oh yeah and I would be in no rush to do it....

KentuckyJ · January 21, 2006 12:09AM

I would do some serious talking to JustHavingFun to see if maybe he would be willing to sell his amazing Jefferson collection. Keeping something like that properly maintained would be an awesome responsibility

KJ

tmot99 · January 21, 2006 12:16AM

First thought would be a lot. But, just because I have the money to spend, doesn't mean that the coins I want are on the market for sale. Laura would probably be one of my first calls to see what she knew of.

PTVETTER · January 21, 2006 12:25AM

my first and largest purchase would be a home
coins would have to come somewhere lower in importance but the ones I would buy would be nice ones and I would not have a set budget

RYK · January 21, 2006 12:38AM

$10,000 immediately.

Then, $100,000 over the next three years.

dtkk49a · January 21, 2006 12:38AM

I would imagine that hobbies like coin collecting would take a back seat for awhile as I got adjusted to being a multi millionaire.
After that, I could see myself dropping some nice "coin" on coins, among other things.

NoGvmnt · January 21, 2006 12:54AM

"If you won a $225 million Powerball, how much would you spend on coins?"

Is that $225 Million before or after taxes?

Jim

CarlWohlforth · January 21, 2006 12:55AM

Ahhh, I love the good old "Win the Lottery" day dream. We would hire a good financial guy we like and set it up so we had a good income with very conservative investments. Then we would travel 1st class around the world at our own pace. Our new houses (probably 2, maybe 3) would need to be decorated so we would buy some fine art.

I'd find some interesting theme and display some interesting coins in each house I owned. Say a type set of gem gold for example. Then I'd sell it and put together another set for display. Eventually I would like to have most of the famous coins pass through my hands.

I have a ticket for todays California Super Lotters which promises around 83 mill. I wish you all luck!

LanLord · January 21, 2006 12:56AM

25% of what remained after taxes.

Shamika · January 21, 2006 1:03AM

<< If you won a $225 million Powerball, how much would you spend on coins? >>

ALL OF IT!

boyhowdy · January 21, 2006 1:09AM

What ever it takes to buy up all the 1894-S dimes.

Steve, the barber dime guy.

JustGotRipped · January 21, 2006 1:14AM

Not much more than I do now. For me a $20 coins is just as impressive as many five figure coins. To be honest my coin collecting would probably suffer, cause Id be playing golf everyday.

MORGANHUNTER2 · January 21, 2006 1:39AM

Take a lump sum of 120 mil, (the tax is already taken out of the full amount- so you do get the 120 mil).
1- 3 homes in the best climatic areas in the country California, Florida, Hawaii. I picked Cali n Florida for the bass fishin, Hawaii- cuz it is downright beautiful.- there goes 3 mil., balance- 117 mil.
2- 6 new vehicles- 2 for each home- 1 fer mom 1 fer me
3- 2 new 21 ft bass boats - loaded 35K each
4- 3 new Harley soft tails- at each home
5- World tour fer mom and the furkids- and me in tow(w/travelin bass boat)
6- complete Morgan set in MS67- All 117 coins for the Variety- Laura will be my slave for 1 full year getting this accomplished, at miinmum wage of course.
7- complete set of Barbers, Walkers, Franklins in MS68 and Proof- I'll ask Rick to get on this one.
8- All the Saints INCLUDING the 33 in ms65 or better- I'll put Guru to work at minimum wage to 'geterdone'- 1 year
9- I'll ask Lord Stewart to assemble the best penny collection- I'll pay him handsomely for his time.
10- set 30 mil in a interest bearing acct of 7%, and use this to pay the bills each year- easily.
11- then mom can have what she wants
12- oh I would have 5 more scotties runnin around the house.

that should cover the first year, we will see what we want to do the second time we hit the powerball.

A nice pipe dream I must say.

MrSpud · January 21, 2006 1:49AM

The value of things would lose all meaning to me. Part of the fun for me is looking through a bunch of trashy coins looking for the few overlooked gems. I'd probably start buying key date coins and sending them through those elongation machines out of boredom.

777 · January 21, 2006 2:17AM

I would invest every dime of it a little at a time picking up coins at good prices, then in yrs to come this investment would be worth multiples of the initial 225 mil.

Conder101 · January 21, 2006 2:18AM

I would quite possibly give up collecting. It loses a lot of its interest when you can buy almost anything you want.

Lakesammman · January 21, 2006 2:25AM

I would spend about 25 million on classic rarities as they came available and 75 million on American art (the kind that goes on walls). 25% to charity - any taxes due??

ColonialCoinUnion · January 21, 2006 2:30AM

<< I would quite possibly give up collecting. It loses a lot of its interest when you can buy almost anything you want. >>

I have heard this before from some well-to-do collectors.

I would not have that problem, however. I'd probably spend about 25% of the after tax take on coins, but I'd do it discreetly and wouldn't be throwing it around in a very public way.

2ndCharter · January 21, 2006 2:31AM

I would call Laura and say, "how much you want for that nickel?"

TheLiberator · January 21, 2006 2:36AM

<< I'd probably start buying key date coins and sending them through those elongation machines out of boredom. >>

Thta is an awesome answer! hahahah! TRULY shocking!

messydesk · January 21, 2006 2:42AM

After the gummint confiscates its illicit share of a lump sum payout, I'm left with about $65M. I'm thinking $20-30M in a personal numismatic endowment that would enable me to spend $1-1.5M a year building up nice collections for which Heritage would give me my own "Platinum Night" every several years.

BAJJERFAN · January 21, 2006 3:13AM

<< Take a lump sum of 120 mil, (the tax is already taken out of the full amount- so you do get the 120 mil). >>

Nope!! 120 mil would be the amount they would invest to sustain the payments over the 25 or 30 years the payments would run. If you take the lump sum yu get 120 mil not 225 mil so after tax yer 120 mil jackpot would get cut in half.

dizzyfoxx · January 21, 2006 4:10AM

Let's just say dealers and auction houses would

me VERY much!

mdwoods · January 21, 2006 4:14AM

I'd spend 22.5 million on coins.

Trinketts · January 21, 2006 4:21AM

Build the finest Buffalo.. Bust Quarter and Half, and Proof Morgan Collection.

gyocomgd · January 21, 2006 4:55AM

Three goals for me:
1. The very best $2.5 Indian gold collection known to man and one that would be very difficult to surpass.
2. Ditto for Buffalo nickels.
3. Build the finest numismatic library possible. Purchase the rarest one-of-a-kind treasures and store them carefully. There are a handful of books that are practically as rare as any coins.

Baley · January 21, 2006 5:24AM

If I had that kind of money I would probably spend less overall time thinking about coins.

the fewer coins would be a lot nicer though

I'd get all the early types in gold, all the silver with the small eagles, all the tough 1793 copper, a few patterns and colonials..

FullStrike · January 21, 2006 5:39AM

<< If you won a $225 million Powerball, how much would you spend on coins? >>

If I really had a big chunk of cash like that I'd spend nothing on Coins. For me, Coins are just a diversion from my dull job that requires very little in the way of physical exertion. Also, with Coins, I'm hoping to multiply what little cash I have to spend on them.

With multiple millions, I'd first quit my job. I'd wouldn't have a need to make money. Why would I need to buy Coins? Just a big waste of time.

Travel interests me most of all. During my travels I might visit a museum or two. If there were Coins in the Museums, of course I'd take a look. But BUY Coins? Why?

My new hobby? Collecting Gold-Digger Babes.

If you won a $225 million Powerball, how much would you spend on coins?

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