ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / MONEY 101

Grandad finds $24 million lottery ticket in old shirt just before it expired after a TV announcement

The retired security guard heard an announcement on television that a particular lottery ticket hadn’t found its prize winner yet.
UPDATED NOV 4, 2024
Image of lottery winner Jimmie Smith holding his ticket | Cover image source: New York Gaming Commission
Image of lottery winner Jimmie Smith holding his ticket | Cover image source: New York Gaming Commission

You can find luck in the most unexpected places at times. Like meeting the love of your life in a city you don't like, or finding a $24 million winning lottery ticket in one of the shirts in the closet. While the latter sounds too good to be true, it did happen with Jimmie Smith, per NJ.com. The retired security guard and a father of two heard an announcement on television that a particular lottery ticket hadn’t found its prize winner yet.

Representative Image Source: Getty Images | 	Grace Cary
Representative image of a person checking his closet : Getty Images | Grace Cary

Smith, who is quite enthusiastic about buying lottery tickets, thought of checking his closet once. He went to his closet where an old shirt with a pocket full of unchecked tickets was hung. Surprisingly, he found the lucky ticket he had just seen discussed on television.

"I ended up with a stack - a pile of tickets, including the one they were talking about on the news," he told lottery officials. He said he has been buying tickets in New Jersey and New York since the 1960s. 

Quite understandably, Smith stood there staring at the ticket in his hand. "I stood there for a minute thinking, ‘Do I see what I think I see?" he told NJ.com, adding that he then stuck his head out the window for some fresh air. "I was in serious doubt. I had to convince myself this was real," he said.

Smith later opted to take his $24.1 million in laddered payments over 26 years, which is a choice often promoted by financial experts. Smith, who won the lottery back in 2016, is a resident of East Orange, New Jersey. 

Cover Image Source: Getty Images |  Michael M. Santiago
Representative image of a store selling lottery tickets and soft drinks : Getty Images | Michael M. Santiago

Smith's winning numbers were 5-12-13-22-25 and 35, and the ticket was bought from a grocery and tobacco shop at 158 Church Street in the Tribecca neighborhood in Lower Manhattan. Normally, the winner has a year to claim the prize and Smith was able to claim the prize just in time.

He decided to finally look for it after the Lottery company started getting the word out. "We urge New York Lottery players: Check your pockets. Check your glove box. Look under the couch cushions. If you have this winning ticket, we look forward to meeting you," Gweneth Dean, director of the Commission’sDivision of the Lottery, said at the time.



 

Smith then contacted them, who waited for two days before announcing him as the winner post-review. "We are thrilled that this lucky winner was able to locate this life-changing ticket," the Dean, of the Gaming Commission, said. Smith, who is also a grandfather of 12 grandkids, said that he would decide what to do with all the money after they have an "all-family discussion" once things settle down.

New York Lottery is a state-operated lottery in the US state of New York. The lottery that began back in 1967 provides revenue for public education and is based in Schenectady. Like most lotteries, the winnings are subject to state and Federal income taxes. As per the official website, New York State withholds around 10.90, while New York City takes away another 3.876%.

This article originally appeared 1 month ago.

MORE ON MARKET REALIST
Vanna White is said to be considering an early exit from the show since she didn't get the raise that she wanted.
2 days ago
Cuban passed on the lesson that he learned at the age of 22 from his mentor to the young entrepreneur.
3 days ago
The importance of the sculpture was forgotten over time until someone spotted it decades later.
5 days ago
After a lot of analysis, Rick concluded that the leather jacket indeed belonged to Marlon Brando and thus began the negotiation
6 days ago
Many took to social media and pointed out just how awkward the scene was.
6 days ago
She went to a CVS store in Blacksburg to purchase a Mega Millions ticket for the upcoming big jackpot of $893 million on March 18, 2024.
7 days ago
A Costco membership comes with restrictions, so make sure that you know the rules.
Dec 2, 2024
Ruth L Gottesman got $1 billion in Berkshire Hathaway stock upon her husband's passing.
Dec 1, 2024
Although she didn't get a deal, her appearance on "Shark Tank" significantly increased the visibility of her brand.
Nov 21, 2024
Back in 2017, a woman spotted an envelope lying at a Walmart store with an important message.
Nov 20, 2024
The condition does make a difference, but some vintage pairs have fetched a good price even though they were in bad shape.
Nov 19, 2024
You can make good money selling or pawning vintage items or other items in good condition.
Nov 19, 2024
The models who present the prizes have also become popular faces on the show and have bagged other projects.
Nov 17, 2024
If you have a box of Disney VHS tapes in around your house, it's time to pull them out because they could be worth thousands.
Nov 16, 2024
He always makes it a point to buy two tickets at a time and select his own numbers.
Nov 12, 2024
The woman was apprehensive about the transaction and shared her experience on social media.
Nov 12, 2024
The woman even went on to say that her father's spirit had a role to play in her lucky streak.
Nov 11, 2024
Apart from coming up with a unique idea, O'Leary also shared tips on pitching a business.
Nov 11, 2024
The wealthy in Korea were hiding their money at home to avoid high tax rates at the time.
Nov 9, 2024
Walmart had earlier removed self-checkout kiosks from some of its stores but does not have plans for other outlets.
Nov 9, 2024