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255k Ounces Worth of Gold Up For Grabs At Mega Millions Lottery

Another lottery is making headlines, this time the Mega Millions $323 million jackpot, which will be drawn Friday at 11p.m. EDT.

“The tenth largest jackpot in the history of Mega Millions will be up for grabs on Friday, August 4, after no ticket matched all six numbers drawn Tuesday night,” the official lottery website said. “With the jackpot roll, Friday’s estimated jackpot is $323 million ($199 million cash).”

So, the $199 million cash prize is up for grabs and at current gold prices, that would amount to about 158,000 ounces – or about five Liberty Bells worth of gold.

But, after taxes, the winner will be walking away with a significantly lower amount.

According to USAMega.com, the $199 million cash prize will be subject to a 25% federal tax, or $50 million. That’s not to mention the state tax. The website showed that a New York state winner would be subject to the highest state tax, landing at an additional $17.6 million (or 8.82%).

Putting it simply, after taxes, the winner will be walking away with roughly $131.4 million – or 105,000 ounces worth of gold (or roughly three Liberty Bells).

“Last summer’s $536 million jackpot, won July 8, 2016, in Indiana, was the third largest Mega Millions jackpot in history and the most ever awarded to a single winner. The second highest was $648 million on December 17, 2013, with winners in California and Georgia. The record jackpot was $656 million on March 30, 2012, a prize that was split by three winners, one each in Illinois, Kansas and Maryland,” the website wrote.

What would you do with your lottery win?