The value of $8

Below is one of my all-time favorite true stories, printed in a newspaper in the United States years ago, and quoted by religious leader Thomas S. Monson in his talk, The Profound Power of Gratitude. There's a personal finance lesson in it :-). Here's hoping that you all have a Merry Christmas, a bright year ahead come what may, and a heart full of gratitude for all that the year will bring.

The District of Columbia police auctioned off about 100 unclaimed bicycles Friday. “One dollar,” said an 11-year-old boy as the bidding opened on the first bike. The bidding, however, went much higher. “One dollar,” the boy repeated hopefully each time another bike came up. The auctioneer, who had been auctioning stolen or lost bikes for 43 years, noticed that the boy’s hopes seemed to soar higher whenever a racer-type bicycle was put up. Then there was just one racer left. The bidding went to eight dollars. “Sold to that boy over there for nine dollars!” said the auctioneer. He took eight dollars from his own pocket and asked the boy for his dollar. The youngster turned it over in pennies, nickels, dimes, and quarters—took his bike, and started to leave. But he went only a few feet. Carefully parking his new possession, he went back, gratefully threw his arms around the auctioneer’s neck, and cried.