Tracking What You Paid For Coin? - Page 2

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Author	Replies: 20 / Views: 2,433	Page: of 2

coinmap Valued Member United States 266 Posts	Posted 08/06/2009 08:54 am Very good point, Just Carl! Report this Post to the Staff
Kabiye_Lady Pillar of the Community United States 581 Posts	Posted 08/06/2009 09:51 am I really don't want to open this can of worms, but if your collection becomes sizeable (and worth some serious money), and you want to sell it, it really helps to have records for tax purposes. Unfortunately, that would probably be more than a spreadsheet. I try to keep my receipts and just throw them in a jar I have. I do nothing else with them, but I know they're there in case, one day...... Report this Post to the Staff
Jays-Dad Pillar of the Community United States 790 Posts	Posted 08/06/2009 10:26 am Personally, I view my spreadsheet as a hugely important part of my collection. Thankfully I started the spreadsheet when I didn't have too many coins and I keep it up religiously. I definitely keep track of prices paid as well as date purchased. I also record every bit of info I can for each coin, but never thought to record the place I purchased from. With an incredibly detailed spreadsheet I can sort and organize the data any way I want to learn all kinds of information about my collection, including how much I spent this year or last year, exactly how much silver is in my collection, what is the lowest mintage coin, etc. I always add the price of postage to what I paid. If I buy a coin off of ebay for $10 and postage is $2, then I'll record $12. In the case of lots of coins, which I definitely buy a lot of (good pun), I look at the total price I paid for the lot with shipping, then break that total over all of the coins in the lot. With this method I can tell very quickly what my collection is "worth", the answer is of course, priceless. Report this Post to the Staff
richardschornak Valued Member United States 80 Posts	Posted 08/06/2009 11:21 am YES YES YES, keep track. Just in case of a fire, loss, theft. You need to ensure you have a copy off-site of your list. Ensure that you also keep records of the condition along with photo's. You want to ensure home owners insurance will cover any/all loss. Report this Post to the Staff
hhbkiddo Pillar of the Community Canada 1248 Posts	Posted 08/06/2009 12:52 pm carl... you are dead ON!!! I had a break in years ago..under similar circumstances.. 35 years ago lost all my canadian silver and paper that way...many high end 50 cent pieces and dollars, quarters, rare (even then) bills...rolls of siver dollars... value at the time approx $ 30,000... I still shudder... culprits were traced back by police to a person who stood next to me when I wrote a check for a Paper bill purchase in a coin store. he approached me outside asking if I was a collector. he offered me some old bills he apparently had. Unsuspecting I invited him to my home... the rest is history... However, it was NOT him who broke in to my home a few days later...It was his buddies... BUT he got cought trying to sell several bills of mine...a dealer recognized the interesting serial number of a $50 bill which ended in .....505050. the whole gang was cought. turned out I was not the only victim.. so Lesson 1 when you keep your coins at home: Keep it a secret!! Report this Post to the Staff
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