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 Replies: 50 / Views: 4,475 |
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Pillar of the Community
United States
5850 Posts |
Tonight's multi-state Powerball lottery is up to some insane amount like $700 Million. And yes, I bought a ticket even though I know that there is no way I would actually win.
But it did get me to thinking about whether I would still want to collect coins if I won or whether the ability to basically just buy the best example of every single coin I could possibly want would get old after awhile. I mean, I always wish that I could afford better examples or find a key coin in decent condition at a price I can afford, but half the joy (or not more) is in the hunt and the fact that the coins that I end up with are precious because of the time and effort that went into acquiring them.
So, what about you? I know it is tempting to just say, "Sure -- I'll go out and buy my dream collection," but do you think it would still be fulfilling?
Edited by barryg
08/23/2017 4:26 pm
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Pillar of the Community
United States
666 Posts |
I think I would, although it's one of those things where reality could be much different than imagination.
~ Mark
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Pillar of the Community
United States
1450 Posts |
Oh, heck, yes. I would be buying truly rare coins in mint condition as an investment and about 100 million in gold. Of course this is all a pipe dream. I also really would have to consult tax lawyer, investment advisor and an assortment of others. That would be vast windfall. I have enough now.
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Pillar of the Community
United States
827 Posts |
I'd collect coins like never before. I get all those rare dates that I only dream of
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Rest in Peace
United States
10625 Posts |
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Moderator
 United States
23522 Posts |
Are you kidding? I would be a player in numismatics. It would require care and planning not to personally skew the market with the volume of my purchases.  Imagine what the market would do if a single individual dropped $50Mil into it in 6 months.... |
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Bedrock of the Community
Australia
21786 Posts |
I would hunt the World auction markets, looking for one or two Egyptian gold octadrachms.
I would then specialize in World off metal strikes.
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Moderator
United States
188391 Posts |
Of course I would still collect coins! How dare you ask!   But being serious, I am already a lower-budget collector. It might be fun to walk in the upper echelon for a while.  To be honest, I would also be giving a lot of that money away to family, friends, and other charitable causes. |
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Pillar of the Community
7234 Posts |
I think first step would be installing a kick butt security system as being the winner, your name is going to be plastered all over the news papers.
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Pillar of the Community
United States
7840 Posts |
Silly question...of course!
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Pillar of the Community
Russian Federation
5173 Posts |
I think I have posted it here before (oh, here it is), but basically, in principle it wouldn't change much - I'd just start picking out more and more expensive coins, still from the equivalent of bargain bins. I don't like auctions ( ebay included), for several reasons, and I'm not sure if I'd bother to get a PayPal account either (which also severely limits my opportunities with ebay). So, as I mentioned in my previous post, most of the really big stuff will mostly pass me by (I'm not sure if I would even be able to fill my 7070 - though I'll definitely try). Of course, I don't believe I'm even eligible for that lottery, being in the wrong country. Quote:Are you kidding? I would be a player in numismatics. It would require care and planning not to personally skew the market with the volume of my purchases. Imagine what the market would do if a single individual dropped $50Mil into it in 6 months.... I would probably somewhat diminish this problem by mostly using brick-and-mortar style LCSs for my purchases (though it might well be even more of a problem - if only locally - if $10 million ends up dropped in the same city). |
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Pillar of the Community
 United States
5850 Posts |
Quote:
I would be buying truly rare coins in mint condition as an investment OK, I was primarily asking about collecting for the sake of collecting, not investing. But if you had $700 MILLION, why would you need to invest in anything? |
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Pillar of the Community
 United States
2362 Posts |
I would just buy one coin - a 1793 Chain Cent for around $100K and then would feel that my large cent copper collecting goals were met.
Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith |
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Moderator
United States
56855 Posts |
Of course I would. Even more so than I am now. John1  |
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Bedrock of the Community
United States
20753 Posts |
I'd just hire someone to go to all the coin shows everywhere. I'd tell him to buy, buy, buy, buy and then buy.
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Pillar of the Community
United States
3843 Posts |
Was reading a post on another forum about how winning the lottery could ruin your life. Statistically lottery winners are at a highly elevated risk to get murdered, go to prison, or even go bankrupt! Check out the story of Jack Whittaker a West Virginia man who won over $300 million. https://en.wikipedia.org/wiki/Jack_...tery_winner) |
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Replies: 50 / Views: 4,475 |
Posted 08/23/2017 4:24 pm
