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Which payoff would you take, gold bullion or $4M cash?

Topic closed. 25 replies. Last post 5 years ago by savagegoose.

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Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
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Posted: February 28, 2012, 6:06 pm - IP Logged

Illinois has a new $20 scratcher (there's an image in Instant Games).

Here's the top prizes:

5 PRIZES OF $4,000,000 PAID IN GOLD BULLION OR CASH!

Which would you take?

I'm wondering how the taxes would work if you opted for the gold.

The gold would be a gamble as it could go up or down.

I'm thinking taking the cash and buying some gold would be a good move.

What do you say?

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.


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    Posted: February 28, 2012, 6:36 pm - IP Logged

    Yeah Gold has been on the increase for years, peaking last year, and since then dropping a $100 or more a troy ounce.

    I would be nervous about Gold dipping south again, and would definitely opt for good ol' cold, hard cash.

      rdgrnr's avatar - walt
      Way back up in them dadgum hills, son!
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      Posted: February 28, 2012, 6:38 pm - IP Logged

      I'd take the cash cuz I'd get rid of a lot of it on real estate (farmland) right away.

      And beefing up the bunkers of course.


                                                   
                           
                                               

       

       

       

       

                                                                                                         

      "The only thing necessary for evil to triumph is for good men to do nothing"

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        Bigheadnick's avatar - badluck
        Taunton, Ma
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        Posted: February 28, 2012, 6:43 pm - IP Logged

        Well, with a war in Iran and or N.Korea almost immenant, I think gold is the choice. Gold is always high in war time.

          Coin Toss's avatar - shape barbed.jpg
          Zeta Reticuli Star System
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          Posted: February 28, 2012, 7:06 pm - IP Logged

          People who win prizes on game shows, cars, vacations, furniture, etc...are taxed on the value of those prizes.

          So if you went for $4M in gold bullion, what would the tax on it be and how would you pay it? (Other than selling a bunch of it off to pay the taxes, which seems a little silly).

          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

          Lep

          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

            garyo1954's avatar - garyo
            Dallas, Texas
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            Posted: February 28, 2012, 7:12 pm - IP Logged

            Illinois has a new $20 scratcher (there's an image in Instant Games).

            Here's the top prizes:

            5 PRIZES OF $4,000,000 PAID IN GOLD BULLION OR CASH!

            Which would you take?

            I'm wondering how the taxes would work if you opted for the gold.

            The gold would be a gamble as it could go up or down.

            I'm thinking taking the cash and buying some gold would be a good move.

            What do you say?

            I would check to see if as a winner I was expected to take possession of the gold before deciding. Be wise to have it as a investment, just not in your possession.

            My greatest accomplishment is teaching cats about Vienna Sausage. When I need a friend, all I need do is walk outside, pop open a can, and every little critter in the neighborhood drops by to say "Hi!"

              haymaker's avatar - Lottery-012.jpg
              Egg Harbor twp.south Jersey shore
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              Posted: February 28, 2012, 7:12 pm - IP Logged

              Well, with a war in Iran and or N.Korea almost immenant, I think gold is the choice. Gold is always high in war time.

              gold was around record highs back in the late 70s, but i think it was caused by skyrocketing interest rates,

              morgatages 19% , car loans 12%, look at the rates we have now,i think gold is nearly peaked out,

              unless we have some catastrophe.i'd take the cash and put quite a bit in real estate,its not going to stay down forever.

              land,rental properties, REITS etc.

              Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                Bigheadnick's avatar - badluck
                Taunton, Ma
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                Posted: February 28, 2012, 7:21 pm - IP Logged

                gold was around record highs back in the late 70s, but i think it was caused by skyrocketing interest rates,

                morgatages 19% , car loans 12%, look at the rates we have now,i think gold is nearly peaked out,

                unless we have some catastrophe.i'd take the cash and put quite a bit in real estate,its not going to stay down forever.

                land,rental properties, REITS etc.

                I agree, real estate is a great investment right now. It's only a matter of time before it rises again. Barrang an option to get the prize as part gold part cash. I take the gold, sell half and invest half of that into real estate and the other half would be my spending money.

                  James1's avatar - 5599078405 12a562a9e7_t.jpg
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                  Posted: February 28, 2012, 7:54 pm - IP Logged

                  I would take the cash and invest in real estate. I dont find it wise to take the gold at this all time high. In fact I had a bunch of gold bullion I inherited from my grandfather (he purchased for like $30 an ounce) that I sold last year for $1,700+/ounce and used the funds to buy a rental property.

                  2014 Highest Winner: $500

                    sully16's avatar - sharan
                    Ringleader
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                    Posted: February 28, 2012, 8:06 pm - IP Logged

                    Cash for me.

                     HyperBe Happy.

                      savagegoose's avatar - ProfilePho
                      adelaide sa
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                      Posted: February 28, 2012, 9:13 pm - IP Logged

                      i guess it depends on the taxes and capital gains.

                      with the money printing and ever increasing US debt, meaning debt ceioling is going up ever 6 months, i dont see the price of gold bottoming anytime sooon, not until there is a credible plan to balance a budg...

                       

                      anyhow enough silly talk , GOLD

                      2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

                      keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318

                        Coin Toss's avatar - shape barbed.jpg
                        Zeta Reticuli Star System
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                        Posted: February 29, 2012, 1:02 am - IP Logged

                        Something else to consider, I think America once made it illegal to own gold.

                        What if you opted for gold and that happened again?

                        A fence isn't exactly going to offer you fair value and if it's illegal to own it, then what?

                        Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                        Lep

                        There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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                          NASHVILLE, TENN
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                          Posted: February 29, 2012, 1:10 am - IP Logged

                          I would take the cash and buy land and gold.  Of course, if the polls indicate that a Republican will win the White House, then I would sell the gold.  The price will surely drop after the election.  Land may decrease in value but when push comes to shove, you will need a place to stand.  About 500 acres ought to be enough to stand on.

                            savagegoose's avatar - ProfilePho
                            adelaide sa
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                            Posted: February 29, 2012, 1:26 am - IP Logged

                            actually illegal gold sold for more than face value, i think the 1 oz was $20 face,  gold was $35/ oz officialy and sold on the street for $40 per oz

                            2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

                            keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318


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                              Posted: February 29, 2012, 1:34 am - IP Logged

                              I would take the gold bullion only if they threw in an armored truck to transport it around.  Otherwise I would take the cash and buy guns and maybe a small tank.