So, You Just Inherited $500,000, But....

Okay, your great Aunt Sophie has just passed into that coin store in the sky.

A reading of her will says: "I hereby bequeath my wonderful nephew/niece $500,000, BUT.... he/she MUST spend it on a coin collection. Any money not spent on coins will be donated to my foundation for 'Save the Squirrels'.

Now, you have $500,000, what would you buy?



My dream sets:

Gem Unc Set of Barber Dimes
Gem Unc Set of Barber Quarters
Gem Unc Set of Barber Half Dollars (including the 1892 O micro O.)

More to follow after I add these up.

 

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Here goes:
Barber Dimes: MS-64= $119,350
(without the 1894S)
Quarters: MS-64 $222,290

Half Dollars: MS-63= $214,950 less the 1907 S in MS-63, (@$4,500) and the 1892 O micro O @ $52,500= $157,950.


Total= $499,590.

So, I have managed to leave $410 to my squirrely friends, or I'll just buy a couple of extras, and leave some nuts for the squirrels.



So, Apparently I have spent my inheritance.

Thanks, Auntie! Ya got class!

 

Way to easy a question. At the coin shows I usually go to there is one dealer I've gotten to know very well. He usually pruchases over $100,000 a month in coins and sells usually about that amount at the minimum of three shows a month he attends. If I had $500,000 to spend I'd just go to any of the shows he attends, call first, have him bring the most and best and purchase $500,000 worth of everything. From what he says that would not really dent his inventory to much anyway.

 

I'd probably try to "corner the market" on a single coin by purchasing every high grade example that I could find. Maybe buying as many 1921 peace dollars as I could would fit the bill.

 

I'd also add to my hoard of 1896S & 1913S quarters!

 

I'd horde all the PF70 Ike, Sacs and SusanBs I could find. then hord MS 70s and MS70 Presidents

 

Ruben:
We really HAVE to get you interested in some classic coins!

Look at those Walkers and Standing Lib quarters!
Or anything pre-1950.

 

I think the idea of cornering the market on one specific coin would be a neat idea.

I'd pick something which is commonly traded but which isn't commonly followed.

Not that this is what I'd pick, but just as an example...

Take the 1982 No Mintmark dime. Low end estimates run that 5000 were released to the public. High end examples run $250, AU examples run $150. So let's say the average price currently is sitting at $200. In any given month roughly 25 of these sell on ebay. Once you add in dealer inventories I don't think it's out of the question to think that I could pick up 500 of these over the course of a year. Taking 10% of the supply out of the equation should have a significant increase in demand.

Crap that's only 100K... gotta find something in addition to that...

 

Well the Squirrels(rabbits or toads) would not get any money from me. I would upgrade several coins in my IHC, this would include a 1856 Flying eagle(there goes anywhere from 10 to 20k), a couple of the 1790 halves would eat up a good chunk. Yep - I could have fun with 500k.

 

How about a PF70 of every State Quarter in individually wrapped slabs!

Ruben

 

Ruben, must be my long lost older twin.

 

Your evil twin

 

Nah, thats Spock!

 

I would buy every rainbow toned coin I could find especially MS67 & MS68 Commemoratives.

 

I'd buy four 1916 MS67 FH Standing Liberty Quarters for $114,380.00 each and secretly send the remainder to Frank so the squirrels dont get any.

 

500 1oz. Gold buffaloes or as of today's gold spot: 666 ounces.

I LOVE $750 gold ...woooo hooooooo !!!!!

 

Not sure what all I would get, but this would be the first.

 

I realize that the pricing is not exact, but they are in approximate order of interest. Using the PCGS price guide
1909-S VDB MS67 RD - $125,000
1914-D MS66 RD - $150,000
1909- VDB MS68 RD - $20,000
1924-S MS65 RD - $37,500
1923-S MS65 RD - $30,000
1924-D MS66 RD - $100,000
1919-D MS67 RD - $55,000

 

hmphh a mere 500k wont even get me one coin on my list might get me some double mohurs think bigger frank

 

Complete set of MS-65 walkers and MS-70 and PF-70 Silver eagles. And if any is left over a crap load of palladium maple leafs. And 1 kookaburra just because it sounds funny.
And possibly the copper buffalo nickel.
http://www.coinfacts.com/nickels/buffalo_nickels/1920_buffalo_nickel_struck_in_copper.htm