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Old 04-12-2012, 11:56 AM   #1
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Spend my tax refund for me!

So I will again be getting $650 tax refund- this is property tax rebate that PA does for lower income folks. (funded by the lottery)

I expect this money July 1st.

What would you spend it on?

Last year- I broke it up via ebay- to make it more fun to spend. It most likely will be silver or gold, tho I lean to silver.

On silver I like eagles or junk.

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Old 04-12-2012, 11:58 AM   #2
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Old 04-12-2012, 12:00 PM   #3
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20 Morgans. Call and see if they have this available still.

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Old 04-12-2012, 02:09 PM   #4
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Originally Posted by Penn View Post:
So I will again be getting $650 tax refund- this is property tax rebate that PA does for lower income folks. (funded by the lottery)

I expect this money July 1st.

What would you spend it on?

Last year- I broke it up via ebay- to make it more fun to spend. It most likely will be silver or gold, tho I lean to silver.

On silver I like eagles or junk.

Shop around for a good deal and pick up a 20 tube of eagles!

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Old 04-12-2012, 06:15 PM   #5
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buy untaxed agricultural diesel
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Old 04-12-2012, 07:24 PM   #6
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OK, I spent it. Where do I send the bill?
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Old 04-12-2012, 08:28 PM   #7
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lol................
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Old 04-13-2012, 01:58 AM   #8
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If you are going to put the refund into PM's this is what I would probably do based on your likings... Two 1/10 oz Gold Maple leafs -- I would say about $185 each at a LCS (you might be able to find some 1/10 oz AGE for this price to if thats your preference w/ gold) and six 1 oz ASE -- you could get them for $35 a piece right now in many LCS then a half dozen Merc Dimes at maybe $2.50 a piece... Totals to around $600 bucks, and you have around $50 left over to take your neighbor lady friend out to eat dinner somewhere.

Then again you could just go to the casino and put $625 on red and $25 on green (just incase) and maybe double your money in one spin of the roulette wheel and buy twice the amount of gold and silver.

Last edited by white&yellow999; 04-13-2012 at 02:02 AM.
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Old 04-13-2012, 10:12 AM   #9
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If you have any debt - especially high interest debt, put it on that.
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Old 04-13-2012, 10:23 AM   #10
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Originally Posted by Jetstream View Post:
If you have any debt - especially high interest debt, put it on that.
Goes without saying...

I think that most people doing the "gold trade" understand the dangers of leverage.
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Old 04-13-2012, 11:19 AM   #11
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Penn, I would say my advice is to buy some good junk. A bag of average circulated quarters can't be beat for being highly recognizable and they are extremely fungible. Junk is my second favorite! In fact, I have a guy who sells me 40% kennedy halves for 1.90 under spot when he gets them. He will pay someone off the street about 90% of spot. He sets them aside for me and always gives me first pick. One time, he called me at work to tell me he had 100 dollars face and could I come take it right away........naturally I hopped in the truck, went AWOL for an hour and got them.
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Old 04-13-2012, 05:19 PM   #12
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There is no such thing as too much 90%.
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Old 04-13-2012, 08:06 PM   #13
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There is such thing if your safe isn't big enough. ;-)
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Old 04-13-2012, 10:38 PM   #14
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Get another safe.
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Old 04-14-2012, 03:33 AM   #15
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Originally Posted by dereksatkinson View Post:
Goes without saying...

I think that most people doing the "gold trade" understand the dangers of leverage.
Not necessarily. Hence my comment.

The thread title says, "Spend my tax refund for me!"

As I don't know the person personally, I gave the most appropriate response on this. Put it first on any debt you have and pay off the highest interest debt first.

Trying to save while you have debt is like trying to fill the bathtub without putting the plug in. First stop the leak. Then fill it up.
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Old 04-19-2012, 03:48 PM   #16
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I would have paid off any cards or other debts.
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Old 04-25-2012, 11:09 AM   #17
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Originally Posted by Penn View Post:
So I will again be getting $650 tax refund- this is property tax rebate that PA does for lower income folks. (funded by the lottery)

I expect this money July 1st.

What would you spend it on?

Last year- I broke it up via ebay- to make it more fun to spend. It most likely will be silver or gold, tho I lean to silver.

On silver I like eagles or junk.

Have you decided on a course of action yet? The masses want to know!

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Old 04-25-2012, 09:01 PM   #18
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Cliff spent that money on silver the minute it hit his account! ;-)
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Old 04-26-2012, 07:19 AM   #19
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Originally Posted by Jetstream View Post:
Not necessarily. Hence my comment.

The thread title says, "Spend my tax refund for me!"

As I don't know the person personally, I gave the most appropriate response on this. Put it first on any debt you have and pay off the highest interest debt first.

Trying to save while you have debt is like trying to fill the bathtub without putting the plug in. First stop the leak. Then fill it up.

If your high interest rate debt is 24%, since 2008 silver is outperforming the debt by 12%.
Paying banks is exactly what "We the People" have been trained to do. Consider buying silver, switching accounts, making payments, and putting effort forth in order to be financially prepared. Why take tax free income and expend it upon zero gain and ZERO possession.

One would be in a far stronger position buying silver now at current proverbial low. Then paying debt and attempting to purchase silver at an assumed higher price with capital of a minimum monthly payment.

Risk default, not destitution.
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Old 04-26-2012, 08:35 AM   #20
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yeah

ive pondered the risks of borrowing big and letting inflation deal with the debt.

If you can get through a period of high interest on the repayments it should work.
It worked for me in the 90's but it was a scary ride for many when base rates went up to 15% on black wednesday.

But if we default, the banks end up owing everything, having done NOTHING, not even taken a business risk ....... cos we , the public, now carry both ends of the deal.
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