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Buying coins with your Tax Refund Money?

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lizzyjo
Valued Member
United States
160 Posts
 Posted 03/09/2012  05:54 am Show Profile Bookmark this topic Add lizzyjo to your friends list Get a Link to this Message

I did my 2011 taxes and got over $300 added to my bank account. That plus the money I made dog-sitting last month, I have around $400 in extra money to spend on a coin. I'd like to buy a key-date coin that I would normally not have the budget for.

I'm interested in completing my US small cent collection, and I still need the following key-date coins: 1877, 1909-S Indian cent, 1909-S VDB, and 1914-D. The 1914-D is the only one that is easily below $400.

I was also thinking about upgrading some of my semi-key-date cents that are currently just hole-fillers. Actually, now that I think of it, this option may be a better choice because I could get more bang for my buck.

What do you think?

What are you going to buy with your tax return?

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 Posted 03/09/2012  06:53 am  Show Profile Check macmercury's eBay Listings Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I got it all divided up to pay off a small percentage of my Bills. But left even a smaller percentage to buy just a few inexpensive coins to upgrade my collection.
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Australia
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 Posted 03/09/2012  07:15 am  Show Profile Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Buying Government produced numismatic items is a better investment than paying Government taxes!
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 Posted 03/09/2012  08:29 am  Show Profile Bookmark this reply Add Connor to your friends list Get a Link to this Reply
Go with the 1914d. That is always a good way to spend your money.
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 Posted 03/09/2012  09:52 am  Show Profile Bookmark this reply Add wquinn to your friends list Get a Link to this Reply
Before I was half way reading your post, the 1914 D cent came to mind. I think you can get mid grade one for that price. Look around and buy the nicest looking one you can afford. Also, learn to know what the counterfeits look like too. A 1914 D won't have VDB on it and the spacing between digits won't look uneven. Otherwise, buy a slabbed one from the main TPGs.

I don't own that coin yet, and I've been thinking of getting one this year. I want one at least in F-VF grade. That would make a nice looking coin.
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 Posted 03/09/2012  09:56 am  Show Profile Check SeatedNut's eBay Listings Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply

Quote:
What are you going to buy with your tax return?


What's a tax return? I don't let them hold my money interest-free for a year. Every year I pay them off just enough that they don't show up at my door.
So many coins, so little time ...
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United States
3904 Posts
 Posted 03/09/2012  10:24 am  Show Profile Bookmark this reply Add CaptainFwiffo to your friends list Get a Link to this Reply

I think the '14-D is the way to go. With that much money you should be able to get an nice, attractive, problem-free example in F-VF. It seems like the others, in spite of being keys, are available all the time and may be overpriced. I know the LWC collectors here seem to complain about the availability '14-D the most.


Quote:
What's a tax return? I don't let them hold my money interest-free for a year. Every year I pay them off just enough that they don't show up at my door.


I always owe like 60 bucks come tax return time. Less fun than getting a big check, but it makes financial sense. I guess with such low interest rates it doesn't matter, but still.
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 Posted 03/09/2012  11:18 am  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
What's a tax return? I don't let them hold my money interest-free for a year. Every year I pay them off just enough that they don't show up at my door.

I'm with you on that one. I still remember a long time ago, my tax guy said think of this. If you get $1,200 back from a tax return, that means the government was holding $100/month of your money and no interest. Put that doubled in a standard savings acoount, at the end of the year, pay the government from that. Now at least you get the interest, not them. I
If you can afford to let someone hold that much money of yours for nothing, just give it to me instead.
just carl
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United States
8660 Posts
 Posted 03/09/2012  11:55 am  Show Profile Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
What's a tax return?

That's the form you send in that says how much extra you have to send them, or how much of your mony over and above what you taxes were that you have given them as an interest free loan.

A tax "REFUND" is the free loan money you sent them that they grudgingly return to you.
Valued Member
United States
160 Posts
 Posted 03/09/2012  12:49 pm  Show Profile Bookmark this reply Add lizzyjo to your friends list Get a Link to this Reply
Now, I don't want this to become a political thread. I just happen to have this extra money in my budget. I usually put away around only $20 per month for coin purchases...or less these days.

It seems like the 1914-D cent is a good way to go. I'd still like more thoughts!

I still want to know what YOU are going to buy!
Valued Member
United States
318 Posts
 Posted 03/09/2012  1:34 pm  Show Profile Bookmark this reply Add Cajunlady0 to your friends list Get a Link to this Reply

Quote:
What are you going to buy with your tax return?


I am in a very unique position.... I do not get a refund, nor do I pay. (It's my little secret).

But, if I had some extra money, I would try to work on completing whatever you are closest to completing. If you scatter yourself too much, then you do not feel like you are getting anywhere. Because you have this lump sum that you want to make an impact with........ I say buy the upgrades. You will get more NEW coins and should be more satisfied then getting one nice one.

Good luck! Have fun shopping!

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United States
12507 Posts
 Posted 03/09/2012  3:34 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply
As to what to buy? For me it's anything I like. I go to lots of coin shows and walk around from aisle to aisle. When I see a coin or coins I like, that is what I'll buy. Or at least try if the price is right.
My goals are always to complete, or as much as possible, complete an Album. And once filled, I just go on with a new one of the same thing. Eventually I'll have all the coins ever minted and start charging everyone a small fortune to just see what a coin is.
just carl
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United States
1522 Posts
 Posted 03/09/2012  4:07 pm  Show Profile Check The_Duke's eBay Listings Check The_Duke's eCrater Listings Bookmark this reply Add The_Duke to your friends list Get a Link to this Reply
I would go for the 14-D Key, they don't ever seem to get cheaper. I will probably look for my Reeded Edge Half Dollar with a small part of mine. For me, letting the government use my refund interest free is not a big deal ($10 for 2011). I much rather not pay in and upset my savings.

Back on topic, you can always upgrade coins later on.

The_Duke
ANA# 3159445
http://dukescoins.ecrater.com/
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United States
2488 Posts
 Posted 03/09/2012  4:36 pm  Show Profile Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
Well since this is the first year I have gotten back anything in the 10 years I am going to buy a sack of oysters and a case of beer with few bucks I am getting back.
Pay your taxes! 12 million illegal immigrants are depending on it.

"A government big enough to give you everything you want, is big enough to take away everything you have."
Thomas Jefferson

Oldest Circulation Find ----- 1897S Barber quarter
Oldest Detector Find -------- 1803 Large cent


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United States
414 Posts
 Posted 03/09/2012  6:29 pm  Show Profile Bookmark this reply Add ram96 to your friends list Get a Link to this Reply
Planning to go to the Whitman show in a couple of weeks. That should put a dent in my pocket change.
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United States
6223 Posts
 Posted 03/09/2012  6:37 pm  Show Profile Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
I hope to pickup a $1 gold coin and a gold type holder at the Greater Atlanta Coin Show this weekend.
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