Tax Returns

For those of you who are lucky enough to be getting some back, are you spending any of it on coins? If you are what do you plan to get?

I'm planning on getting some of those $20 Canadian polar bears and getting the 2010, 2011, and 2012 Silver ATB proof quarters

 

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Pfft, I contracted for the most part last year so I'll likely be paying what's equivalent to at least 1,000 troy ounces of silver I could have bought instead (although that's if I wanted a divorce as well as the wife would not approve of such purchase).

 

where you buying that$20 polar bear from?

 

Royal Canadian mints website if they have some left. I'm going to check when I get home from work

 

Still available as of now. The last set apparently took 30 something days with even lower mintage numbers so you'll likely not miss out. I ordered 2 earlier today from work!

 

I put $200 towards coins, the rest is paying off debt. With that $200, I got:

2001 S sacagawea
2002 S "
2005 S "
2006 S "
2011 S "
3 Barber halves (don't remember the dates)
2012 ASE
some supplies
40 circulated Ikes at $1.20 each
1964 D JFK half
1970 D "
1896 P "

Now my JFK folders are complete (they only included P & Ds). My Sacagawea proof collection is now up to date. I have each one in an air-tite, which fit perfectly in half dollar plastic holders. Those hold 8 air tites each. Most of the Sacs were only a few dollars except the 01 obviously ($18). I think the 02 was around $10 if I recall correctly.

 

I coulda persuaded the wife to let me get more bullion, but ended up with a 1/10 oz. of gold only. The reason was we put in a furnace in our house a few months ago and a furnace at a rental property this month.

Have to rebuild emergency fund.

 

Gold and palladium bars.

 

Nope, I'm going to Vegas with my tax return money. THEN, I'll buy a coin or two with my winnings.

 

When I saw the topic, I wasn't sure what the focus was going to be. Personally, I have never gotten enough back from the tax man to matter, the only time I have made real money is as self-employed. At one time I got way behind in taxes, how about 10 years and didn't know what to do about it; trust me unless the three letter men are sending you letters, just go back three years--they will not give you social security credit for more than that--though I paid 10s of thousands in back taxes, they gave me no SS credit beyond three back years.

The big advantage with precious metals and tangibles in general is they are not tied to an SS number, so the tax man does not know unless your coin dealer is providing them paper records, as APMEX does. Having a good honest book-keeper or CPA is important for peace of mind moving forward. Many of us are not that skilled with record keeping.

 

I am using mine to pay off 10k in a margin account, and the rest I will put into savings. However, I am eyeing up a couple of lots at G&M next month, so some might go there.

 

Sadly, I'm getting back far more than I'd like. Some of it might be spent on coins, if I can find a particularly nice example of something for my 7070...but no, I don't have any of it specifically earmarked for coins.

 

I'll probably owe as my income tripled halfway through the year.... FFFFFUUUU.

 

I'm going to share with the wife so ill just buy maybe a 2012 1/10 oz gold and save 500 for my 96 impala ss that Im going to buy :yes:

 

Yep, that always make me sad too. I'm much happier getting nothing back.

 

Indeed. The closer to $0 the end number is...in either direction...the better.

 

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2012 $20 for $20 Subscription No.118926	$0.00 CAD	$0.00 CAD
Brilliant Fine Silver Dollar - 200th anniversary of the War of 1812 (2012) No.116870	$54.95 CAD	$54.95 CAD
$10 Fine Silver Coin - Wood Bison (2011) No.114821	$69.95 CAD	$69.95 CAD
$20 Pure Silver Commemorative Coin - Polar Bear (2012) No.118006	$20.00 CAD	$60.00 CAD
Subtotal:	$184.90 CAD
Less Discount:	-$0.00 CAD
Shipping:	$12.99 CAD
Taxes:	$0.00 CAD
Order Total:	$197.89 CAD	plus some other things

 

And any financial advisor will tell you the same thing.

 

Once I get my tax refund, I plan to use part of it to buy some silver art bars that I am interested in and will probably save the rest.

 

My ma told me she'd get me the 2012 Infantry and Star-Spangled Banner Dollars from the mint.