A Coin Collector Treasures His 1969-S Doubled Die Obverse Lincoln

question 78

Multiple Choice

A coin collector treasures his 1969-S doubled die obverse Lincoln cent 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) $0.01, since he paid nothing to obtain the coin and it has a face value of one cent.
• 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.

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