Elijah Wood as Frodo in “The Lord of the Rings” film trilogy.Courtesy: New Line CinemaThe One Ring that collectors were coveting this summer wasn’t found in Hobbiton or deep in the tunnels of the Misty Mountains; nor was it discovered in the Elf stronghold of Rivendell, the realm of Gondor or even beyond the Black Gates of Mordor.It was found in Toronto last month.And the ring bearer — if they choose to sell the “precious” — may owe a hefty tax bill on the profits. Their tax rate could be as high as 53.53%.In this case, the One Ring isn’t the physical ring forged by the Dark Lord Sauron in the fires of Mount Doom and coveted by all manner of creatures in Middle Earth, as outlined in the author J.R.R. Tolkien’s “The Lord of the Rings” trilogy.Instead, it’s an ultra-rare playing card in “Magic: The Gathering.”Seven-figure bids in the quest for ‘The One Ring’Wizards of the Coast — the company that created the Magic playing card game in 1993 — issued a “Lord of the Rings”-themed set in June, and featured a “One of One Ring” promotion. One pack contained “The One Ring,” a serialized card of which there’s only one in existence.Public bids for the one-of-a-kind card — printed in traditional foil and in the Black Speech of Sauron using Tengwar letterforms, according to Wizards of the Coast — have extended into the millions of dollars.Zoom In IconArrows pointing outwardsThe “One Ring” serialized card is a one-of-a-kind Magic: The Gathering card issued in June. Bids for the collectible, which is part of a special “Lord of the Rings” themed Magic edition, have extended into the millions of dollars. Wizards of the Coast LLCOne would-be buyer — Gremio de Dragones, a game store based in Valencia, Spain — offered 2 million euros, about $2.2 million or 2.9 million Canadian dollars. (Its bid also included travel and lodging expenses and a free paella dinner.)Another interested party — Dave & …
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[mwai_chat context=”Let’s have a discussion about this article:nnElijah Wood as Frodo in “The Lord of the Rings” film trilogy.Courtesy: New Line CinemaThe One Ring that collectors were coveting this summer wasn’t found in Hobbiton or deep in the tunnels of the Misty Mountains; nor was it discovered in the Elf stronghold of Rivendell, the realm of Gondor or even beyond the Black Gates of Mordor.It was found in Toronto last month.And the ring bearer — if they choose to sell the “precious” — may owe a hefty tax bill on the profits. Their tax rate could be as high as 53.53%.In this case, the One Ring isn’t the physical ring forged by the Dark Lord Sauron in the fires of Mount Doom and coveted by all manner of creatures in Middle Earth, as outlined in the author J.R.R. Tolkien’s “The Lord of the Rings” trilogy.Instead, it’s an ultra-rare playing card in “Magic: The Gathering.”Seven-figure bids in the quest for ‘The One Ring’Wizards of the Coast — the company that created the Magic playing card game in 1993 — issued a “Lord of the Rings”-themed set in June, and featured a “One of One Ring” promotion. One pack contained “The One Ring,” a serialized card of which there’s only one in existence.Public bids for the one-of-a-kind card — printed in traditional foil and in the Black Speech of Sauron using Tengwar letterforms, according to Wizards of the Coast — have extended into the millions of dollars.Zoom In IconArrows pointing outwardsThe “One Ring” serialized card is a one-of-a-kind Magic: The Gathering card issued in June. Bids for the collectible, which is part of a special “Lord of the Rings” themed Magic edition, have extended into the millions of dollars. Wizards of the Coast LLCOne would-be buyer — Gremio de Dragones, a game store based in Valencia, Spain — offered 2 million euros, about $2.2 million or 2.9 million Canadian dollars. (Its bid also included travel and lodging expenses and a free paella dinner.)Another interested party — Dave & …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
