If two particles of equal mass $m$ separated by a distance $r$ are released from rest and start on a collision course, attracting each other through gravity (so their gravitational potential energy is being converted into kinetic energy as they accelerate towards each other), which of these is the correct representation of conservation of energy (when they collide each particle has speed $v$)?
$$mv^2 = 2\frac{Gm^2}{r}\tag{1}$$
or
$$mv^2 = \frac{Gm^2}{r}\tag{2}$$
One one hand, each particle should have a potential energy of $E_p = -\frac{Gm^2}{r}$, which would support the first equation, but on the other hand it seems reasonable that the decrease in potential energy for one particle would increase the kinetic energy of both particles, since they are both moving towards each other, which would support the second equation.