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Sometimes ago I asked a question and a very nice answer was provided. I feel that the answer was not sufficiently upvoted. Unfortunately I missed the deadline for starting a bounty for rewarding an already accepted answer. I know that the person who provided that answer doesn't need reputation but still I ask this question to know if something can be done in such situations.

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    There's no deadline for setting a bounty. Not saying you should do it, but you certainly can. Commented Feb 11, 2015 at 18:40

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(See the answer to "Can I award a bounty to an old answer?" in this FAQ list)

Rewarding a "nice answer [which was not] sufficiently upvoted" is one of the intended use-cases of bounties.

The benefit for the answerer is two-fold: he gets the additional rep from the bounty, and he gets upvotes from the extra-visibility given to the question.

Another course of action, for users who want to reward an exemplary answer but do not have enough reputation for a bounty, is to draw visitors to the page. For example, you can feature the question in your blog, tweet about it, and so on.

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