Prizes: Cash or Cards?

[AlmostGrown]

Which do you prefer as a prize for your Legacy event? Cash or Cards (Power, duals, other Legacy staples)? Please post which, and why. Thanks!

Cash vs Duals
Cash vs Power
Cash vs Other Legacy staples


*assume that card value is equal to the cash you'd win. So $300 in duals/fetches/etc vs $300 in cash*

[Esper3k]

Always depends on the amount of cash vs the value of what's on the other side.

[lordofthepit]

You're going to have to specify more...

[RJM]

CREAM

Edit: Bahaha, the forum software doesn't allow you to post something all caps?

Edit2: But if I go back and edit, then it does. :P

[Philipp2293]

Depends. As I have most staples, I wouldn't mind cash if I were to win something like fetches, WB duals, as I'm selling off most of my 4+ copies stuff anyway. Cash has to be roughly equal value as card prices, obv.

[Darkenslight]

It depends as much on the local liquidity of the cards as it does on the cash prize: for example, a full set of FBB dual-lands against a 10k prize? You take the lands because they're easily liquefiable assets. Show and Tell vs. $30? That's a much closer call.

[WorstBandNameEver]

Cash can get me cards easily while cards into cash is more work. I would take the cash if it was equal value every time. But, if I can get a lot more value in cards over cash then that might be different.

[Shawn]

It obviously depends on the amount, but trading or selling cards is miserable; everyone is trying to get value on you nowadays instead of a fair trade for both parties.

[AlmostGrown]

Assume that the value in cards you'd win is equal to the cash you'd win. So $300 in duals/fetches/etc vs $300 cash.

[anonymos]

It depends as much on the local liquidity of the cards as it does on the cash prize: for example, a full set of FBB dual-lands against a 10k prize? You take the lands because they're easily liquefiable assets. Show and Tell vs. $30? That's a much closer call.

This pretty much sums up what I think. It really depends on what exactly the prize is and how easy it would be to go from one form to another. Card prizes are great when they're things you can use. BB Chaos Orb is nice, but does diddly if you're looking for legacy playables. If you're looking for something sexy for your cube, you have potential. If cash were offered as an alternative, I'd still play. If I could only take the orb and have to try to move it, I'd keep my cash and take my girlfriend out. It really depends on what cards they are specifically and how useful to me they are.

[infant_no_1]

It 100% depends on the cards. I'll always take Power over cash, but other than that it depends on if I or someone on my team needs it.

[Megadeus]

Assume that the value in cards you'd win is equal to the cash you'd win. So $300 in duals/fetches/etc vs $300 cash.

If this is the case why wouldnt you take the cash? The only way I could ever see wanting the Cards/Credit over cash is if you get some sort of premium for credit or something. For Example a friend who split top 4 of an SCG Open said he could either get 1200 cash or 1600 credit? I think those were the numbers. That is when it becomes an actual question in my opinion. Otherwise why wouldnt you just take straight cash homie? If you really were going to need the cards you could just straight up buy them :p

I mean I guess if you were going to just buy the cards anyway then sure take the cards, but if it is between either just adding value to a binder or taking the cash... Again. Take the cash imo.

[walker]

Cash and cards both make fine prizes, the kicker for me is the value of the prize pool vs the value paid in entry fees. 100% payout (or more) is my favorite.

[Dark Ritual]

It depends on how much cash I receive or how much value cardwise I receive. If I had to choose between 300 dollars in staples or 300 straight cash, take the cash every single time. Cash is a lot more flexible than cardboard and it allows you to get what you want.

As for 1200 cash/1600 credit at a SCG event, I'd take the 1600 if I knew starcity had some cards I wanted in stock that I wanted more than the cash and the prices were right. If not, I'd just take the cash and spend it how I please or sandbag it.

[Dan Turner]

Our LGS offers cash as a prize but only at 75% of the same value as the store credit he gives and you can save store credit vouchers. So I usually get the store credit unless I am low on cash since its an hour drive home.

[coraz86]

I think it depends on both the cards that are being offered and the amount of cash, as some other people have already said. I already have many Legacy staples, but I'm glad to play for the staples I don't have, or sexier versions of staples I have English nonfoils of--that way, instead of just buying shit on ebay, I get a day of playing Magic and meeting cool people out of the deal. Obviously the tournament risks me not going home with what I want, but I've made enough friends and had enough fun at tournaments that I'm okay with that.

I'd also point out that though the check would help my broke student ass, I go to Grand Prix for the Tour slots (as in, if I had to choose between the money and the Tour slot for placing high, I'd take the Tour--although that's currently because I've never been to a PT) in addition to the road trips I've gotten take with friends and the people I've met and so forth.

[bruizar]

Cash or hard to find pimp stuff for me. I have no need for additional duals or unlimited power. I'm the guy that's actually happier to win Rolling Earthquakes or other foil 7th cards than duals, but I guess duals trade away pretty nicely.

[kusumoto]

Depends on if I have to pay taxes on that cash.

[nedleeds]

If this is the case why wouldnt you take the cash?

http://occupycorporatism.com/wp-content/uploads/2012/04/irs-seal.jpg

[Megadeus]

Fair point. I know I worked hard to win this money. Here you go IRS take it!

[bfeingersh]

I prefer boxes of product for PTQs, so I can draft away my sorrows with friends after each near miss.

For other tournaments, I prefer store credit/cash unless they bring something interesting to the table (FBB duals, foil staples, etc.)

[nedleeds]

Fair point. I know I worked hard to win this money. Here you go IRS take it!

Well I guess there's a scenario where you win a reasonable amount of money (thousands) and need it to pay for actual life expenses, at that point you are just comparing

(cashw * (1 - tr)) vs. (credw * (1 - discount rate for selling commodity cards)) + tvm + selling expenses

Or you can just ignore the 1099 and hope for the best

[Megadeus]

Well I guess there's a scenario where you win a reasonable amount of money (thousands) and need it to pay for actual life expenses, at that point you are just comparing

(cashw * (1 - tr)) vs. (credw * (1 - discount rate for selling commodity cards)) + tvm + selling expenses

Or you can just ignore the 1099 and hope for the best

Get 1600 credit from splitting a top 4, buy duals with it, sell said duals locally... You could probably get back almost the 1200 cash you could have gotten. Assuming of course you live in an area with a healthy Legacy scene like ours. But then you also have to take into account driving to places to sell cards, and then even just the time you are spending advertising what you have for sale and such like you said with selling expenses... I bought a NM Tundra locally for 80 when they were 115 I think SCG price so you lose out about 30%ish. So it is probably about even if you just want straight cash. So it is probably just better to take the cash and do the tax forms considering you wont have to do all of the work of selling.

[Koby]

This relates to SCG events:
>$1,000 -- cash
<$1,000 -- credit at SCG

As for the local events, I'll take the cards almost always, unless it's something I don't need or want (mostly the latter).

FWIW, anything above $1,000 winnings from the same "contractor" (WotC, SCG) will be filed under 1099, so effective tax rate is about 25% federal + X% state (damn you California!! 10.3%). They don't withhold that from winnings, so you are responsible for paying that when Tax time comes.

[ceustice]

I am usually more then happy to accept store credit. You can get cards, or whatever you might need so its win win.