Ohio sisters find $500,000: here’s 10 ways to spend it in Ohio
TOLEDO, OH - An Ohio farm family recently uncovered a hidden treasure—a rare 1975 dime missing its "S" mint mark. This particular coin, kept in a bank vault for over 40 years, could fetch upwards of $500,000 at auction. As it turns out, this seemingly small piece of currency could be the financial windfall of a lifetime.
But what could $500,000 actually buy you in Ohio? Let’s break it down, starting with some practical (and fun) ideas.
An Ohio farm family recently unearthed an unexpected windfall—an extraordinarily rare 1975 dime, mistakenly minted without the "S" mint mark. Tucked away in a bank vault for over 40 years, this little dime could fetch over $500,000 at auction. While the coin is small in size, its potential financial impact is huge, raising the question: What could you actually buy with half a million dollars in Ohio? Let’s take a detailed look at how that cash could be spent, keeping things hyper-local and, of course, Ohio-specific.
1. Rent or Buy in Downtown Columbus
First things first, you’ll need a place to stay. If you’re craving an urban lifestyle, you could rent a luxury apartment in downtown Columbus, where the cost of a high-end 2-bedroom runs around $2,000 per month. A year of rent would set you back $24,000, leaving plenty of cash for more extravagant purchases.
But why stop at renting? The median home price in Ohio is about $200,000, meaning you could easily buy a suburban home in Columbus or Cleveland and still have room for upgrades. If you want something more upscale, you could aim for properties in Dublin, Ohio, where the average home costs around $450,000. Buy a house, deck it out with state-of-the-art appliances, and maybe even install a backyard pool for another $50,000, leaving you with a comfortable, high-end home setup that suits your new fortune.
2. Your Very Own Herd of Alpacas
If the rural Ohio lifestyle calls to you, why not take it a step further and purchase your very own herd of alpacas? In Ohio, alpacas sell for around $1,000 to $3,500 each for pet-quality animals, and for show-quality alpacas, the price can soar to $5,000 to $10,000. A starter herd of 20 alpacas would cost you between $50,000 and $100,000. Alpacas are known for their soft, luxurious wool, which you can turn into a business by producing and selling wool products like scarves, sweaters, and blankets.
For those with bigger ambitions, why not purchase a fully operational alpaca farm? Alpaca farms in Ohio can go for around $750,000 to $1,000,000, but with your $500,000 dime, you could put down a substantial down payment, snag a loan, and start your own alpaca empire. Along with the animals, you’ll have barns, land, and all the equipment needed to run your business. Alpaca farming isn’t just about the wool; it’s an investment in Ohio’s thriving agricultural industry, and a way to be part of the state’s growing eco-friendly farming movement.
3. A Year’s Worth of Skyline Chili
Of course, no Ohio adventure would be complete without indulging in the state’s culinary treasure: Skyline Chili. Known for its distinctive Cincinnati-style chili served over spaghetti and loaded with shredded cheese, Skyline is beloved by locals. A typical Skyline Chili 3-way costs around $7, meaning that if you ate one every day for a year, you’d spend $2,555 on 365 meals of cheesy, chili-covered goodness.
But what if you took your Skyline obsession to the next level? With $500,000, you could feed 71,428 people a 3-way meal at Skyline. That’s enough to provide lunch for everyone in a small Ohio town, or you could host an epic Skyline Chili festival and feed football stadiums full of chili fans. From chili connoisseurs to casual first-timers, you’d be the hero who made sure no one left hungry from your chili-centric event. Now that’s a legacy that could only happen in Ohio!
4. Ohio State Football Season Tickets and Tailgating Gear
Ohioans take their football seriously, and as a new member of the $500,000 club, it’s time to upgrade your game day experience. Ohio State football season tickets cost around $1,500 each for premium seats. For a pair, you’re looking at $3,000—a small price to pay for front-row seats to every Buckeyes home game.
But what’s a Buckeyes game without tailgating? Invest another $15,000 in a custom tailgating rig complete with a state-of-the-art grill, tents, foldable chairs, coolers, and a big-screen TV for watching away games. You could even deck out a custom Buckeye-themed RV to host the ultimate tailgates, complete with Ohio State decals, a sound system blasting “Hang On Sloopy,” and enough beer and brats to last the entire season.
5. Shopping Local in Ohio’s Best Small-Business Districts
Ohio has some fantastic small-business shopping districts that offer unique, handcrafted goods while supporting the local economy. Skip the big chains and opt for a $50,000 shopping spree at places like:
- Short North Arts District in Columbus, where you can find boutique clothing shops, art galleries, and local home decor stores.
- Tremont in Cleveland, known for its mix of eclectic art galleries, vintage shops, and indie bookstores.
- German Village in Columbus, a historic neighborhood offering artisan-made items, from handcrafted jewelry to one-of-a-kind furniture.
You could easily spend your $500,000 supporting local artists, designers, and makers, all while filling your home with Ohio-made treasures.
6. Starting Your Own Music Venue in Ohio
Ohio has a thriving live music scene, and with your newfound fortune, you could start your own music venue in a city like Columbus, Cleveland, or Cincinnati. For a mid-sized venue, expect to spend between $150,000 to $250,000 on converting a warehouse or industrial space into a functional venue with a stage, sound system, and bar.
For example, The Basement in Columbus offers an intimate setting for up-and-coming bands and was started for around this budget range. With a capacity of 300-500 people, a venue like this would allow you to tap into Ohio’s vibrant indie music scene while hosting both local and touring artists. Initial costs would cover soundproofing, a quality sound system (around $30,000), lighting (around $20,000), and a full-service bar (which could run $50,000 to $100,000 depending on stock and staff). Once established, a venue like this could bring in steady income while giving you the satisfaction of being at the center of Ohio’s music culture.
Additionally, you could partner with local Ohio breweries to feature craft beers and create events like “Local Artist Night” or “Ohio Brew and Band Bash,” attracting a wide audience and giving back to the community.
7. Cruising Ohio’s Lakes in Style
Ohio’s lakes offer plenty of opportunities for boating, and with $500,000, why not buy yourself a luxury pontoon boat for weekends at Buckeye Lake or Lake Erie? A high-end pontoon boat can cost around $70,000, equipped with plush seating, a sun deck, and maybe even a mini bar for those leisurely days on the water.
Dock your boat at Buckeye Lake for easy access to Ohio’s best summer spots. A dock rental at the lake costs around $2,500 per year, leaving you plenty of time to cruise Ohio’s waterways in style.
8. Become a Patron of the Arts at the Wexner Center
Ohio isn’t just about football and farming—it’s also home to a thriving arts scene. With $25,000, you could become a platinum-level donor at the Wexner Center for the Arts, one of the most prominent contemporary art institutions in the state. Your donation would help support local exhibitions and provide access to exclusive events, giving you VIP status in the Ohio art world.
For an even more personal touch, you could commission a custom sculpture from a local Ohio artist. Prices for large-scale, public art pieces can range from $50,000 to $100,000, depending on the artist’s experience and the materials used. Display your commissioned work in your new suburban home or donate it to a local park to leave a lasting legacy in Ohio.
9. Create a Craft Distillery in Ohio
Ohio is home to an ever-growing craft distillery scene, and with $500,000, you could carve out your own niche in the industry. For around $250,000 to $400,000, you could purchase equipment like copper stills, fermentation tanks, bottling lines, and rent a facility in an up-and-coming area like Cleveland’s Ohio City or Cincinnati’s Over-the-Rhine district.
Your distillery could focus on uniquely Ohioan spirits—perhaps a bourbon made with locally sourced grains from Ohio farms or a gin infused with botanicals native to the region. Setting aside $100,000 for branding and marketing, you could create a distinct Ohio identity, selling your bottles at local farmers’ markets and bars. Craft distilleries like Watershed Distillery in Columbus have thrived by tapping into Ohio’s love for artisanal products, and with an eye toward tourism, your distillery could become a local destination, offering tours, tastings, and exclusive event rentals.
10. Host an Ohio Food Festival
Ohio is rich in culinary traditions, from pierogies in Cleveland’s Polish Village to Cincinnati’s chili. With $150,000 to $200,000, you could organize and host an annual Ohio Food Festival, celebrating the diverse and delicious foods of the region.
Think about renting space at North Market in Columbus or Findlay Market in Cincinnati—two iconic food hubs—to bring together local restaurants, food trucks, and artisanal vendors.
At your festival, you could feature competitions like “Best Pierogi,” “Ultimate Chili Cook-Off,” or “Ohio’s Top Beer,” working with local chefs and brewers to crown the state’s culinary kings. The festival could draw in thousands of visitors over a weekend, with ticket sales, sponsorships, and vendor fees covering the remaining costs. You’d also be supporting Ohio’s small businesses while making your mark on the state’s vibrant food scene, all while indulging in your love for local flavor!
From alpaca farms and Buckeye tailgates to supporting local artists, hosting food festivals, or even creating your own craft distillery, Ohio offers no shortage of creative ways to turn a rare $500,000 windfall into a long-lasting legacy. Whether you're splurging on chili, funding the arts, or building a community hub, Ohio’s unique mix of culture, agriculture, and community makes it the perfect place to invest in big ideas that have a local impact. Your dime could quite literally shape the heart of the Buckeye State and leave a lasting imprint on its diverse and colorful culture.