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Buying Coins Or Bullion With Stimulus?

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 Posted 01/15/2021  08:58 am Show Profile   Bookmark this topic Add TheForce to your friends list Get a Link to this Message
I'm not sure which category this is best suited for...but have any of you used your stimulus checks for coins or bullion? For me as tempting as this is, I have chosen to pay down credit card debt instead. If I didn't have balances to pay I'd probably buy a nice 1973 Canadian Large Bust quarter.
Edited by TheForce
01/15/2021 09:00 am
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 Posted 01/15/2021  09:34 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
IF I get a check I'd have to considerate free money so I'd buy a coin with it.
just carl
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 Posted 01/15/2021  10:10 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I got mine in the mail a couple of days ago.
Which I found strange, since last year's was sent electronically to the bank account I use to pay the IRS each spring.

But to answer the question ... Indirectly yes. I don't have a specific "coin fund," and I am lucky to have no credit card debt. When last year's stimulus checks came, we wrote a comparable check to the local food pantry (and another in December).
So, this one goes into the bank account, and having a larger balance will make me feel more comfortable about any coin purchases.
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 Posted 01/15/2021  10:56 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Working from home and skipping vacations have reduced my expenses a lot, so the previous stimulus went right into savings along with a larger portion of my paycheck. The good news is that my retirement planning has recovered from those lean years in the mid 2000s.

The latest one was direct deposited into my account on New Year's Eve. I have considered using it to expand my budget for coins. Would be nice if I could spend it locally, but I am not going out there any time soon. I would like to fill the last two holes in my Lincoln cent Dansco. I guess it depends whether or not we get that additional stimulus from the new administration.
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 Posted 01/15/2021  12:39 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Haven't got it yet, but going towards an AU 1928 Peace dollar being as it's the last I need for an AU/MS set.
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 Posted 01/15/2021  12:42 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
I think coins in whatever form should be viewed primarily as a hobby. If carrying credit card debt, I'd recommend clearing that off and the interest savings will pay for the hobby all by itself. You aren't doing yourself many favors carrying credit card debt. Sometimes life happens, but most (any?) debt isn't a good thing. They say cash is king for a reason.
My hoard of '82s is up to 204! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 382 x 1, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 4, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 13, 1682 x 15, 1782 x 57, 1882 x 49, 1982 x 33
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 Posted 01/15/2021  1:45 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I could not tell you the last time I carried a balance on my credit card. I am quite sure I was still drinking then. 25 years as of the 6th.
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 Posted 01/15/2021  2:56 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Well I've gotten my 1st and 2nd stimulus money which was quite helpful , a 3rd one would be nice but there are so many people out there that have lost their jobs and are really hurting . I'll buy a coin or two but I would hate knowing that someone out there is going hungry and can't pay their bills because I bought a coin .
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 Posted 01/15/2021  3:29 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply

Quote:
25 years as of the 6th.


Talk about milestones, congratulations.
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 Posted 01/15/2021  3:45 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I'll buy a coin or two but I would hate knowing that someone out there is going hungry and can't pay their bills because I bought a coin
That is very commendable. It is why I want to spend the money locally. I suppose I could suss out a starving eBay seller as well.


Quote:
Talk about milestones, congratulations.
Thank you.
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 Posted 01/15/2021  4:31 pm  Show Profile   Bookmark this reply Add owatchman to your friends list Get a Link to this Reply
Paying off your debt is the best route. If you cary that debt, then you might end up selling at a loss and having even more regret about not getting to keep your purchase.
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 Posted 01/15/2021  5:40 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Paying off your debt is the best route. If you cary that debt, then you might end up selling at a loss and having even more regret about not getting to keep your purchase.


Debt is what kept me from buying more coins in the past.
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 Posted 01/15/2021  8:52 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
Adulting sucks sometimes but that's just the nature of the beast. Credit card debt sucks. I made mistakes, I learned from them. It's hard to dig yourself out of the hole, but getting caught up nicely. Maybe sometime this year I can start working on my collection once again. Between the next proposed stimulus check and this years tax return I should be completely debt free from plastic!
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 Posted 01/15/2021  10:32 pm  Show Profile   Check Collects82's eBay Listings Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply

Quote:
Between the next proposed stimulus check and this years tax return I should be completely debt free from plastic!


Congratulations! The feeling of relief is incredible!
My hoard of '82s is up to 204! 218 BC x 1, 118 BC x 3, 18 BC x 1, 82 x 1, 182 x 1, 282 x 2, 382 x 1, 582 x 2, 682 x 1, 782 x 2, 882 x 1, 982 x 4, 1082 x 1 1182 x 8, 1282 x 2, 1382 x 1, 1482 x 5, 1582 x 13, 1682 x 15, 1782 x 57, 1882 x 49, 1982 x 33
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 Posted 01/15/2021  10:51 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
I never received any stimulus money from the Canadian Government
save the $300 hundred OAP money which I tried to return to no avail.
On New Years Eve , I contacted the Royal Canadian Numismatic Association
a group I do not belong to by the way and gave them 200 and the other 100 to the SPCA .
I am blessed in that I don't need any hand outs from government ,but am
Fully aware that many , many people are not so fortunate .
I feel real concern that those in need are going to have a very difficult next
couple of years .
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 Posted 01/18/2021  06:50 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Wife and I won't be getting one but if we did we'd probably donate it.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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