Steve, that is the exact thought I had, I was thinking" well I plan on getting a boiler in the future and I know they arn't going to get any cheaper so why buy a regular stove now and wait?" I am more of the person who likes to pay for everything up front, and I don't have the money to pay for it right now, but I am approved for a loan, so I will see the pricing of the units and go from there.
As for putting a coal bin in my basement, almost my entire basement is finished, and the area that isn't finished I had plans for in the future. I could build a small bin down there and run a chute through the window and then I could fill that bin up from my main stock pile when it gets low. I will probably just carry buckets of coal down for now, maybe next year I can build something a little more permanent.
Now that I have secured the loan and seen the payment amount, my wife is on board. I explained to her the amount we will save on oil, and the amount we will save by using the domestic hot water coil, it would cover that payment every month easily.
If I needed 5 ton of coal, thats only $1225 plus tax vs.$960+tax just for filling ONE tank of oil at the beginning of the season. Like I said I moved into my house around this time last year, and the people left us with 3/4 of a tank. We used all that plus another tank full before the season was over. At my current oil price that is almost $2000 without tax, and last year was an extremely mild winter! Not to mention when I'm not home the heat is set at 65 and when I am home its set at 68 and im pretty much freezing, if I turn it to 70 the furnace will kick on all the time. Its a win win situation, I will pay less for heating, plus I will be able to keep my house warmer! Now I could even run an underground insulated pipe to heat my small garage if I wanted to without feeling guilty, or I could buy a small cheap coal stove for that.

