A Coin Collector Treasures His 1969-S Lincoln Cent with a Doubled

question 63

Multiple Choice

A coin collector treasures his 1969-S Lincoln cent with a doubled die obverse because he found it in his pocket change,rather than purchasing it.He can sell it on the open market for $35,000,but would only sell it for at least twice that price,due to its sentimental value to him.It is anticipated that the coin will increase in market value in the foreseeable future.What is the value of the coin?

• A)Nothing,since he paid nothing to obtain the coin.
• B)$35,000,since this is the price that the coin would fetch on the open market.
• C)At least $35,000,since he could replace the coin for $35,000,but the coin he owns has additional intangible value due to its sentimental value.
• D)At least $35,000,since the value of the coin will increase in the future.
• E)$0.01 since this is the face value of the coin.

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Definitions:

Total Needs

The comprehensive requirements or demands of a process, project, or organization.

Units Produced

The total number of completed units generated by a manufacturing or production process in a given period.

July

The seventh month of the Gregorian calendar year.

Budgeted Purchases

The estimated amount of goods or materials a company plans to buy over a certain period, often part of the budgeting process.