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 Replies: 26 / Views: 3,960 |
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Pillar of the Community
Canada
849 Posts |
I always include shipping and taxes in the final price. When buying coins I like to try and buy more then one item so that I can split the cost of shipping over multiple coins.
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Pillar of the Community
United States
5825 Posts |
After you bought the 2014 Christmas Tree did you check your wallet?
Was it 50¢ less than before or $34 less?
If it was 50¢ less then you must have $33.50 to spend on another coin.
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
Canada
2366 Posts |
I always just deal with total cost of ownership. I don't care whether it was taxes, shipping, fees, profit or whatever. I do have to tag it as taxed or not though in case we sell it again at some future point and I need to claim the HST input tax credit for it. But you don't need to worry about that unless you're selling $30k+/yr.
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Valued Member
Canada
165 Posts |
I never add shipping cost. For me it's like going to my LCS, I'm not going to figure in my gas. I also do not record taxes. Like most,I do however indicate the FV, precious metal content, my cost (in the year that I bought it) and the book value.
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Pillar of the Community
Canada
3049 Posts |
It has never cost me $5-8 or more dollars to go to my local coin shop... However in my last auction I paid just over $130 in fees, taxes and shipping...
If I was a coin dealer those costs would have to be recouped somehow.
I'm not.. I am however a collector.. and I like to have accurate numbers of exactly how much each item REALLY cost...
I would seriously think you may wish to reconsider including ALL expenses incured if possible. The benefit may be that even with shipping and tax you're finding great deals.. or that the deals really may not be that great... I mean.. I'd love to buy silver at $8 bucks an ounce.... but if I'm paying $15 shipping on top of that... it's not exactly as great of deal as it seems on the books.
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Pillar of the Community
United States
1512 Posts |
Unless it's $15 shipping on 100 oz!
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Pillar of the Community
United States
1002 Posts |
I keep a spreadsheet that lists every coin in my collection. Besides the description & year & obverse effigy, I keep the cost (my actual cost in Canadian $, including shipping, if any); face value; catalog value (I roughly assign it a grade and use whatever Charlton's I have at the time - or if it is a new release, generally assign it to be the same as my cost) and finally the melt value. (This is a formula that ties into a cell that I update once in awhile with the current gold/silver price)
I have never recorded the mintage....not sure why I left that out!!
If I didn't track it I would likely underestimate the amount I have spent on this hobby over the years!
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Pillar of the Community
United States
1285 Posts |
My ledger records TOTAL cost in the last column. I record coin denomination, date, grade, catalog #, actual purchase price, shipping(if any), tax(if any), date of purchase and from whom and where. At suggestion of my budget director (known as spouse) I have decided to computerize my collection. I'm opposed to it but it is the 21st century and I reckon it's about time. Does anyone have a suggestion as to the "better" coin/paper money software products on the market? All suggestions welcome !!  |
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Pillar of the Community
Canada
849 Posts |
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Valued Member
Canada
413 Posts |
I like to include total cost, the coin,shipping and tax when I log my coins - then I list the Charlton value of said coin in the next column. Although it is near impossible to receive Charlton values when selling I feel better about the price I paid for my coin and the wasted money for shipping and taxes.
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Valued Member
Canada
491 Posts |
I just record the face value and if I have to pay taxes or shipping I look at it as the price you pay to own the coin. If the coin has a good story behind how I found it I record that story.
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Rest in Peace
United States
4078 Posts |
Quote:
At suggestion of my budget director (known as spouse)  Good one. I have one to. |
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Pillar of the Community
 Canada
9164 Posts |
Quote:
Good one. I have one to I think we all have one of those.  |
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Pillar of the Community
United States
1285 Posts |
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Replies: 26 / Views: 3,960 |
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Posted 10/08/2015 5:33 pm
