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 Replies: 14 / Views: 2,213 |
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Pillar of the Community
Canada
1177 Posts |
every generation my coin collection gets passed down it gets appraised. my grandpa to dad was worth about 400$. dad to me was worth about 800$ (values are to the dollar today) and I'm very curious as to the value of my collection now. I think I've put well over 1500-2000$ towards this collection and I've taken it over board, not just with precious metals but scarce items (1922, 1923, 1924 and 1925) pennies, 2006 magnetic no mint mark penny, many many rare coins, so throughout this week and next weekend I will be breaking down my collection into 10 parts, and bringing them to a reputable coin dealer (also long time friend) and he will be grading each coin and bill and I will be calculating the retail value (catalogue value). I'm so excited to see the value! just though i'd share! |
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Pillar of the Community
United States
1374 Posts |
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Valued Member
Canada
372 Posts |
interesting site.Now added to my favorites.Thanks
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Pillar of the Community
Canada
1192 Posts |
When doing your audit, make a spreadsheet for your collection. That way you can easily alter values later on. And when you sell a coin, you can remove it (or cut-paste it into a new spreadsheet for coins you've sold).
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Pillar of the Community
 Canada
1177 Posts |
Oh that's a great idea! Thanks guys!
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Pillar of the Community
Canada
1354 Posts |
That's exactly what I do. I have different lists for different items.
Mint coins - item, mintage, price I paid, current value, metal content/weight
Circ. coins - document what I have for more valuable ones, grade & ID number if certified
Bullion- item, what I paid
Bank Notes - item, serial number, what I paid, value.
It's a simple system. It does allow me to check quickly if I am looking to buy something and can't remember if I have it. It's good as a reference if your stuff is stolen. Just don't forget to back up your list to hard drive, email, or hard copy.
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Pillar of the Community
United States
1088 Posts |
very cool concept. I need to make an list of all of the coins that I have. it would be really great to have for insurence purposes too.
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Pillar of the Community
 United States
2448 Posts |
Yes it is, but you must update it religously! Not keeping mine updated cost me an extra 50 bucks this week.  |
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Pillar of the Community
United States
1002 Posts |
I keep an Excel spreadsheet with the following headings:
Year
Description
Cost
Face Value
Grade
Catalog Value
# of coins (This column totals the # in the following columns)
I then have a column for each of the denominations.
Finally a column for silver value. (This is a formula that updates automatically when I change the current silver value per ounce in one cell)
My rows are ordered from smallest denomination and then by year within each denomination. (I keep silver dollars, nickel dollars, and loonies as separate denomination categories.)
At the bottom I have a total for all the numerical columns, so at any given time I can tell how many of each denomination I have, total cost, total catalog value, total silver value, etc.
Pretty easy to see what I have and don't have at a glance.
I keep a similar type of excel sheet for each of my Canadian Currency, U.S. Currency and U.S. Coin collections.
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Pillar of the Community
Canada
1177 Posts |
i thought I was brilliant thinking about this! turns out everyone else does it! oh well! my grandpa and dad just kind of threw random rare coins in the collection, so far today I've audited pennies and nickels (silver and nickel). let's just say with my 1922, 1923, 1924 and 1925 penny, 2006 magnetic no mint and all my rare nickels my collection is already worth more than when it was handed in, not including my 78 oz of silver and half oz of gold! |
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Pillar of the Community
Canada
1177 Posts |
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Bedrock of the Community
Australia
21788 Posts |
Inflation is easy to calculate.
For example if the inflation rate is 3.5%,
Divide 3.5 by 100, then add 1 to it such as 1.035.
1.035 is just indexed for the number of time period intervals you are considering.
The result is multiplied by your original value.
For example, 1.035 for 20 years is 1.987, or very nearly 2.
A coin that had a value of $100 20 years ago, now has an inflated value of
1.987 x $100 = $198.70, very close to $200.
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Interesting rule of thumb, reliable and close approximation:
The 'Rule of 72':
Divide 72 by 3.5 = 20.57
It takes inflation at 3.5% to double the nominal value over 20 years.
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Valued Member
United Arab Emirates
242 Posts |
sel_69l said: Quote:
For example, 1.035 for 20 years is 1.987, or very nearly 2 I'm sorry, could you please elaborate the above?  Cheers
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Valued Member
United Arab Emirates
242 Posts |
Besides, does "Inflation" calculator apply to Banknotes as well? I mean, there are various Paper Money of US $1 ( Federal Reserve Notes) who have been circulated during 1969 for instance with different "Market" values, how "Inflation" calculator would be applied in such a case? Appreciate your feedback ... Cheers |
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Bedrock of the Community
Australia
21788 Posts |
At a constant inflation rate of of 3.5%,
average prices will double over 20 years
or conversely, the value of the dollar will be half after 20 years.
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Replies: 14 / Views: 2,213 |
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Posted 09/17/2012 08:25 am
