I'd say keep your character and his stuffs.. you never know if you will want to come back to the game 2 or 3 years down the road or w/e.
If you are deadset on giving it away though could try a competition of some sort... maybe a lvl 1 foot race from freeport to qeynos?
or have a lvl 60 person hold a city guard somewhere and first level 1 character to get kill shot on it gets the money
[You must be logged in to view images. Log in or Register.]. (i think it would be funny watching 100's of lvl 1 people smacking a guard)
or could do some sort of trivia contest? just a few thoughts.
That give the money to a random monster thing sounds pretty cool if it works.