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What To Do With The Megamillions Jackpot

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xZACKx's Avatar
United States
648 Posts
 Posted 02/10/2013  10:16 pm  Show Profile   Bookmark this reply Add xZACKx to your friends list Get a Link to this Reply
Hmm..Send me a couple million? :D
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HippieOutcast's Avatar
United States
615 Posts
 Posted 02/10/2013  10:22 pm  Show Profile   Bookmark this reply Add HippieOutcast to your friends list Get a Link to this Reply
No offense, but even if you happen to have actually won the lottery (which I highly doubt), spending that % on coins is just silly.
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denco7's Avatar
United States
2543 Posts
 Posted 02/10/2013  10:28 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
Seriously ? 100 million on coins and only 1 mil on booze and women.

Dude ....... get your priorities straight. I only collect coins asa diversion from my pathetic life ..........
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sel_69l's Avatar
Australia
21788 Posts
 Posted 02/10/2013  11:14 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Maybe I could buy the Fed out, and issue my own coins.
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MrMorgan's Avatar
United States
161 Posts
 Posted 02/11/2013  12:01 pm  Show Profile   Bookmark this reply Add MrMorgan to your friends list Get a Link to this Reply
I'd buy a $120 million dollar car!...and a liter of cola...
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fenton's Avatar
United States
4989 Posts
 Posted 02/11/2013  12:27 pm  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
There are approximately 200,000 serious coin collectors in the U.S. out of a population of about 300,000,000. Each year about 247 people win a lottery jackpot of $1M or more. Chewing the numbers, that means that about once every 5 years, on average, a serious coin collector will win a $1M lotto jackpot.

$100M jackpots are presumably much rarer. If we assume they are 1/100 as frequent as $1M jackpots, then we would expect a serious coin collector to win a jackpot that size once ever 500 years. Further reducing the odds, only a fraction of those winners would actually post a thread on Coin Community. Assuming 1% of those collectors would make a CCF post, we would expect to see a true CCF $100M lotto winner post about once every 50,000 years
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ninamason's Avatar
United States
1227 Posts
 Posted 02/11/2013  7:38 pm  Show Profile   Bookmark this reply Add ninamason to your friends list Get a Link to this Reply
I hate to burst everybody's bubble, but it's my line of work to know this stuff. Mega Millions draws on Tuesdays and Fridays at 10pm Eastern time, and the jackpot was not won this past Friday--it was won on the fifth (last Tuesday), with an estimated jackpot of $19M. The last $100M+ jackpot was in September 2012 in Riverside, CA. Coins4Fun lives in New York.


. . . . now that I've been a total evil killer of dreams and all, I will tell you what I would do with a jackpot of $100M:

--$200k would be set aside to pay off my mom's student loans, my student loans, and what remains of my sister's student loans. That would be over the amount we would need, but it'd be pretty close.

--$1M each in a trust fund for each of my nieces, and an additional $1M in trust for the future kids of my two best friends, Alicia and Cassie. These girls have stuck by me when everybody else walked away and I love them like sisters. (As long as we're at it, I would stealth-pay Alicia's mortgage. Cassie has a house that has been bequeathed to her, but Alicia and her husband had to start from scratch with her parents pretty much rooting for them to fail. Given the neighborhood they live in, let's call that another $80k-ish.)

--I want a 2012 Hyundai Accent and when I was eight years old I promised my dad a red Ford F-150 when I got rich. My car would be about $12k (it's the most wonderful little compact thing, and for an additional bonus, most Hyundai cars sold in the US are also manufactured in the US!) and nadaprices tells me a fully-loaded F-150 would be about $33k. So, another $45k. My mom has a brand-new car already that she really does not need to be driving, which leads me to . . .

--$70k for my mom to have good, reliable eye surgery. That would cover both the surgery and the aftercare--her boss would complain, I have no doubt, but if I footed the bill for a temp to replace my mom for eight weeks, Jeri would do it.

--$10k and I AM GOING ON MY TRIP TO EUROPE, AND YOUR ARGUMENTS FALL ON DEAF EARS. Among other things I want to visit easily a dozen places in England alone (Stratford-upon-Avon, I have a friend who lives in Liverpool where there is also a Beatles museum, the original Twinings Tea Shop in the Strand, Stonehenge during Samhain, and I want to take both the Harry Potter and Sherlock Holmes tours), but there is plenty of love left for Notre Dame, the Alhambra, Venice, the Coliseum, and hundreds of other little places I want to go.

--$5M for living expenses while I try to make a go of Hollywood. It's all I've ever really wanted to do.

--$10k for a shopping spree. No way in heck I'd spend it all (with the way my tastes run I'd be a spendthrift to burn through three grand of it), but just once in my life I want to walk into a store like Nordstrom, go "oooh! This is gorgeous! And--hey--it fits perfectly!" and walk out with whatever-it-is in a bag, having never looked at the price tag. That's why the huge margin--I don't want to know how much I paid for whatever-it-is. I want one item that's essentially free, something I didn't have to scrimp and save and cry and pine for. Just one. When I get home, like a week later when the shine has worn off just enough that I'm okay with looking at the price tag, I will look, and probably gasp and need a strong cup of tea, and then $500 of whatever happens to be left will go in a slush fund whose entire purpose is CRH (what is this "buying coins" thing of which you people speak?). The rest would go back to the remainder.

And the remainder would go . . .


. . . . to a trust fund set up to be self-sustaining and also to accept donations, that would hand out a minimum of $1M per year to needy libraries and children's literacy groups. It would be called The Clarisse Fund, in memory of the girl in Fahrenheit 451 by Ray Bradbury who says "I don't care about the answers. I want to know what the questions are." That $1M would aid in setting up computer classes and resources, indexing local resources (e.g., the stuff that back in the bad old days we called "microfilm"), setting up a dedicated youth resource center and purchasing books--whatever the particular petitioning library needed most. And in each of those libraries, I would require a copy of that book. At least one. You can apply as long as you have, or are willing to use ten bucks of our money to buy, a copy of Fahrenheit 451, and feature it in a reading program. Because I don't care if kids know the answers--I want them to know what the questions are. They can find the answers themselves, if they can develop the know-how to ask the questions.


That's it.
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Penny4Me's Avatar
United States
745 Posts
 Posted 02/11/2013  9:43 pm  Show Profile   Bookmark this reply Add Penny4Me to your friends list Get a Link to this Reply
Ya right and I got a 75 cent candy bar from vending machine today, put in a dollar and got back 1913 V nickels and a MS69 1916-D dime...
Edited by Penny4Me
02/11/2013 9:43 pm
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DNA's Avatar
United States
2734 Posts
 Posted 02/11/2013  9:49 pm  Show Profile   Bookmark this reply Add DNA to your friends list Get a Link to this Reply

Quote:
What to do with the MegaMillions jackpot

Hello, Kitco? How many of those 400-oz. gold bars do you have in stock?
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CoinsKelly's Avatar
United States
3453 Posts
 Posted 02/11/2013  9:55 pm  Show Profile   Bookmark this reply Add CoinsKelly to your friends list Get a Link to this Reply
If you had only said PowerBall....
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FadeToBlack's Avatar
1751 Posts
 Posted 02/11/2013  10:13 pm  Show Profile   Bookmark this reply Add FadeToBlack to your friends list Get a Link to this Reply
I'd try to chase for the finest known set of Buffs, Mercs, SLQ's, WLH's, and Peace dollars. The golden era of US coinage, imho. I'd also probably put together some nice UNC sets of barbers, maybe a higher-end UNC set of Saints too. Probably about $35m on all that. Then I'd dump $40m into dividend bearing blue chip stocks. That leaves me with $45m more, which I'd probably use to build myself a couple estates and buy some nice cars and stuff. My other passion, besides coins, is driving, especially doing so at high speeds. I'd probably spend a good chunk of the remaining $45m to create an American version of Nurburgring.
Edited by FadeToBlack
02/11/2013 10:15 pm
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pennrj430's Avatar
United States
132 Posts
 Posted 02/11/2013  10:16 pm  Show Profile   Bookmark this reply Add pennrj430 to your friends list Get a Link to this Reply
If I won 120 million, let's just say that is after taxes, here's what I would do. I would heavily invest it and then live on the monthly interest. Let's just say that you have that much to invest, you can easily get yourself into investments that paid at least 12% or more per year. $120,000,000 x 12@ means getting about $14,400,000 income per year or about $1,200,000 monthly income just from interest, without touching the initial lotto winnings. Taxes will be very little because you would be just paying capital gains tax.
$1,200,000 per month for life will get you almost any coin you can possibly want.
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solotime's Avatar
United States
2311 Posts
 Posted 02/11/2013  10:22 pm  Show Profile   Bookmark this reply Add solotime to your friends list Get a Link to this Reply
Here's my dream list:

*Buy every Buffalo nickel in AU-58 or higher.
*Buy every Mercury and barber.
*Buy every American silver eagle
*Buy every Gold coin minted(the new ones they made)
*Buy everyone here a Ms-70 coin of my choice.
*Buy a house
*Buy a few cars
*Buy soda,pie,pizza and cake, lol.
*Buy the, psvita,xbox 360 slim, wiiU, and a 100 inch TV for gaming.
*And enjoy life and buy coins everyday.

Oh yeah, that's one fine dream I have isn't it?

*note* I mean by every year they minted the coins. Not buy all the coins up.
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BadToTheBone's Avatar
United States
1795 Posts
 Posted 02/11/2013  10:48 pm  Show Profile   Bookmark this reply Add BadToTheBone to your friends list Get a Link to this Reply
Wow ...Happy for you. Just do some good with your good fortune, and buy what you like.
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argentum's Avatar
United States
1195 Posts
 Posted 02/11/2013  11:35 pm  Show Profile   Bookmark this reply Add argentum to your friends list Get a Link to this Reply
Quite the noble plan, Nina! May the lottery gods smile upon thee so that thee may be able to carry it out.

I'd take the 26 annual payments, try to live off of only half of that during the year, split the other half equaly between coins/bullion and stuffing CD's to the max $250k and try live off the interest of for another 26 years.
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