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Gold And Silver Moving Up Tonight

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Pillar of the Community
United States
2168 Posts
 Posted 01/24/2012  9:38 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
I have never sold any PM. How do you keep track of the sales/exchanges for capital gains? Just the paper receipts from the dealer.
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Ed_B's Avatar
United States
4008 Posts
 Posted 01/25/2012  6:30 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Angel... I keep a simple spreadsheet document that lists every coin, round, and bar I buy. This includes the weight, metal, fineness, number of items, purchase date, silver weight, and amount paid. Like you, I have not sold any either but when I do, I will put the sales into this spreadsheet in the same way. This will be my buying and selling record. I also scan the receipts I get with any of the larger purchases I make and save them. This info is also backed up onto a separate hard drive and also on a 4 GB USB memory stick. I also make a backup of my personal files onto a DVD that I save in my son's safe at a different location. This may seem a little paranoid to some but there are files that most people have that they simply cannot afford to lose. If so, then some extra action is necessary to protect that information.
Valued Member
terrib's Avatar
United States
67 Posts
 Posted 01/25/2012  10:38 pm  Show Profile   Bookmark this reply Add terrib to your friends list Get a Link to this Reply
I keep a spreadsheet with similiar information. I track the shipping and handling as well in a seperate column. It's all part of the cost.
Pillar of the Community
United States
2168 Posts
 Posted 01/25/2012  10:44 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
Thanks to both of you. Wonder how all the coins I have from the 1960s really are recorded for date of acquisition since basically for years they were gathered as obtained and no clue for the date of each individual coin. I know basically 6ace value is the cost but how to record that was why the question. Not that it is that much $ just wondering
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SilverBug's Avatar
Canada
862 Posts
 Posted 01/25/2012  10:51 pm  Show Profile   Bookmark this reply Add SilverBug to your friends list Get a Link to this Reply

Quote:
Angel... I keep a simple spreadsheet document that lists every coin, round, and bar I buy. This includes the weight, metal, fineness, number of items, purchase date, silver weight, and amount paid. Like you, I have not sold any either but when I do, I will put the sales into this spreadsheet in the same way. This will be my buying and selling record. I also scan the receipts I get with any of the larger purchases I make and save them. This info is also backed up onto a separate hard drive and also on a 4 GB USB memory stick. I also make a backup of my personal files onto a DVD that I save in my son's safe at a different location. This may seem a little paranoid to some but there are files that most people have that they simply cannot afford to lose. If so, then some extra action is necessary to protect that information.


that's a lot of work! I lost my track half a year ago, I just hope I won't forget where all my coins are
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Ed_B's Avatar
United States
4008 Posts
 Posted 01/26/2012  7:57 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
Wonder how all the coins I have from the 1960s really are recorded for date of acquisition since basically for years they were gathered as obtained and no clue for the date of each individual coin.

That is a little trickier, especially if some of them were acquired at face value. As to date, I would simply pick a date, such as 1970 or 1980 and say "acquired before 19xx" and fill in the "xx" with whichever date you choose.


Quote:
that's a lot of work!

Not if we keep the file up to date... takes me 4-5 minutes for each buy I make.
Pillar of the Community
United States
2168 Posts
 Posted 01/26/2012  8:09 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
Thanks Ed. I guess if it ever gets to selling them! Had most since the early 60s picking them out of change!
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mkfarm's Avatar
United States
667 Posts
 Posted 01/26/2012  10:18 pm  Show Profile   Bookmark this reply Add mkfarm to your friends list Get a Link to this Reply
I let my accountant figure everything out just keep your records. The numbers are too big for me to start to figure out anyways.
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mkfarm's Avatar
United States
667 Posts
 Posted 01/26/2012  10:32 pm  Show Profile   Bookmark this reply Add mkfarm to your friends list Get a Link to this Reply
BTW where is the guy that guaranteed $24 or low silver last year? Like I said if he keeps predicting the price at $24 he will get it right some day.
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rgathright's Avatar
United States
264 Posts
 Posted 01/27/2012  11:48 am  Show Profile   Bookmark this reply Add rgathright to your friends list Get a Link to this Reply
@mkfarm, Hope it was not me!

I don't believe I predicted $24. Instead I only mentioned wanting to buy at that level this month. :)

At these 32+ levels, silver is just a hobby for me.

Watching those Canadian coins closely!
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Ed_B's Avatar
United States
4008 Posts
 Posted 01/28/2012  7:20 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Predicting $24 silver has all the attributes of a stopped clock... yes, it is right... twice a day.
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