What would you do?

[kirispupis]

Okay. It's the hypothetical time. 

One day, against your better judgement, you purchase an old lamp. The seller says it's either Greek or Roman and you don't really know, but it looks kind of neat and the price is right, so you buy it. When you get it home, you can't resist removing a spot and suddenly a genie appears.

He offers you the below propositions. You may choose one or none. When you ask the genie why you're not getting the traditional "three wishes", he exclaims that those are reserved for the high bidders of lamps in the NAC and similar auctions, so for what you paid this is what you get.

Here are the propositions.

#1 You select your favorite coin (and he'll know if you're lying). You will have to give the coin away, but the genie will have it appraised by a fair neutral party and you'll have a budget of 10x the appraised value to replace it. You may not use that budget to repurchase the original coin.

#2 You must hand the genie your entire coin collection. In its place you may have any one coin in the world. It can be any coin - even if someone famous owns it or it's in a museum and everyone will magically understand that it's yours. You may never see any of your original coins again.

#3 You must hand the genie your entire coin collection. The genie will have it appraised and you'll have 5x the appraised value to replace your entire collection. You may not use any of that budget to repurchase any of your original collection.

So, which will you do? or post your photo of urns or anything genie-like!

FWIW, my personal answer is none of the above. I've spent too much effort tracking down many of these coins to give them up. But, everyone is different.

[Ryro]

Give me #3... with the, the can't touch my MSC collection. Then I use the money to buy more MSCs... and a Sicilian tet or two. 

Now, my turn with the urn:

Front facing or butt facing?

[Deinomenid]

I'd just game it.

The base for decisions is a $10m  coin right? Flowing Hair Silver/Copper Dollar – 1794

If that's so then option 2 where I give away my collection (worth MUCH less than  $10m)  but get a $10m coin which I can sell for say 10 assuming  I can negotiate no seller fee.

Option three needs my collection to be worth $2m or more (check that box!) to make  it worth my while  over option 2.

Option 1 doesn't enter into it as  my favourite coin is inexpensive. And replicable.

 

All this assumes a broadly based collection of the type of coin  I collect can be rebuilt, which it can. Even  unusual types  come  up again, constantly surprising me. And the benefit  of spending $10m  on a collection of coins  I'd like  way  outweighs  my admitted sentimentality to  what I have.

 

Where do I get the lamp?

 

 

Edited November 12, 2022 by Deinomenid

[Kamnaskires]

33 minutes ago, kirispupis said:

One day, against your better judgement, you purchase an old lamp. The seller says it's either Greek or Roman and you don't really know, but it looks kind of neat and the price is right, so you buy it.

 

Definitely Greek, Greek, and Greek.

[AussieCollector]

#1

My favourite coin is valued at about $3500 USD. That's $35,000 to purchase a new favourite coin in better condition, definitively upgrading it.

[Curtisimo]

I think you would be best off to go option 2.

Perhaps pick a coin that only one exists of like this giant 20 stater gold from ancient Bactria that was in the collection of Napoleon III.

Or if you don’t want to worry about the whims of bidders when it comes to value just opt for one of the largest gold coins in the world. The gold content alone is worth over $5M.

 

[AussieCollector]

12 minutes ago, Curtisimo said:

I think you would be best off to go option 2.

Perhaps pick a coin that only one exists of like this giant 20 stater gold from ancient Bactria that was in the collection of Napoleon III.

Or if you don’t want to worry about the whims of bidders when it comes to value just opt for one of the largest gold coins in the world. The gold content alone is worth over $5M.

 

This is a good point. I'd like to change my response :)

[CPK]

If I'm allowed to sell the 1 coin, then No. 2. I'd take a coin worth millions, sell it, and rebuild my ancients collection to one of staggering beauty and brilliance.

Otherwise, I think I'd go for option 3. I don't have any extremely rare coins, or coins of great sentimental value, so I'd essentially be getting 5x on my money to get even better coins.

Fun thought experiment! 

[Octavius]

 I'm still in negotiations with my genie...

[kirispupis]

I should have probably added a condition that you can't sell the coin. 🙂 

My temptation would be to take no option, but to sell the lamp to someone who would. Not sure what the market is on genies, though.

[ambr0zie]

Here is a coin clearly showing the genie in action and a closeup of the lamp.

The reason the genie didn't appear for thousands of years with this offer is simple - the lamp broke when someone was undecided about the option and also clumsy. Rumors state it was an owl - I have this moment just before the event immortalized here:

If my arm is twisted, I would choose option 2. Of course I would pick a very expensive coin (the total money I spent on my ancient coin collection is exactly 8813,52 euros so not something impressive) and, of course, with amount I get from that coin, buy examples of my previous coins. Probably better. Plus others I don't have.

[Di Nomos]

I would pick option 2 for sure. But I'd pick a coin I want to keep, not to make money on.

For me that would be either the Agrigentum or Athens dekadrachm from the Bunker Hunt collection. If anyone has a copy of the first sale, you'll know the coins I mean. The Agrigentum coin is on the cover.

[Roman Collector]

I'd decline the offers. I have coins that are irreplaceable and I'd always regret their loss. Besides, no good ever came from offers of this nature ...

[Qcumbor]

I'd decline too. There are too many of my coins that are irreplaceable, either for their rarity or for sentimental reasons.

And I'm a bit cautious towards genies, they're not always what they pretend being :

A guy who's done very well in his business arrives downtown with his Ferrari and meets a school mate who apparently didn't so well, standing besides his old small Toyota. They're glad to see each other and start chatting, the good old days and all the stuff, when the second one shows off a lamp. On a call a genius appears and the guy orders two cups of mint tea, with a lot of sugar he says. While they drink their tea, the first guy shows his amazeness, and to be frank, his envy. Seeing that, the owner very generously offers to swap the Ferrari for the lamp. The businessman, feeling the good deal (he's smart, rich and with a great sense of business, you know) enthusiastically accepts.

Back home, he's very excited to show his wife the new thing, calls the genius out, and orders a diamond river for her and a nice pricey watch for himself.

To what the genius answers : "I'm only in the mint tea business, you know !"

Q

[Valentinian]

15 hours ago, kirispupis said:

#3 You must hand the genie your entire coin collection. The genie will have it appraised and you'll have 5x the appraised value to replace your entire collection. You may not use any of that budget to repurchase any of your original collection.

I'd pick #3. I'd love the have the chance to buy lots of coins again, now that I have the knowledge acquired since I started. 

[Bailathacl]

#3 let’s you shake the Etch-a-Sketch and start all over again, very appealing to me too. 

Edited November 12, 2022 by Bailathacl

[Numisnewbie]

23 hours ago, kirispupis said:

#2 You must hand the genie your entire coin collection. In its place you may have any one coin in the world. It can be any coin - even if someone famous owns it or it's in a museum and everyone will magically understand that it's yours. You may never see any of your original coins again.

Since I only have two very inexpensive coins, worth nothing to anybody else, and worth less than $100 together, the choice for me is easy. I'd go with #2, hand the genie my two cheapies, and for my choice of a single coin I'd take @AncientJoe's beautiful Eid Mar (sorry, @AncientJoe).