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 Replies: 14 / Views: 1,862 |
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Valued Member
Canada
65 Posts |
Hi
over the past year I have made more purchase's from the mint then I ever thought I now have a stack of receipts on my desk, does any one keep these for insurance purposes or any other reason?
Just curious as I do not want to pitch them and then realize I should of kept them but keep on wondering why I keep them.
C
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Valued Member
Canada
292 Posts |
I keep all of my receipts, but only because I want to have paperwork that verifies the purchase. It also helps me to keep track of how much I paid for the coin. I just add them to a binder with all of my other coin-related receipts.
If you don't want to deal with the paperwork, you could always scan them as .pdfs and store them digitally. That way, you could still print them up if needed.
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Bedrock of the Community
United States
10982 Posts |
I use to save receipts but quit doing it when I never used them for anything. It's a personal decision really, I did it for potential tax implications.
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Pillar of the Community
Canada
567 Posts |
I'm a little anal retentive, I'll print each coin's description and specs and staple it to its invoice. Example, I'll print this page --> http://www.mint.ca/store/product/pr...=prod1680043 (warning, if you click the link, you will get a pop-up asking you to print the page) Edited by jpaiva83
06/14/2013 5:50 pm
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Bedrock of the Community
Australia
21786 Posts |
Start a separate lever arch file for ALL reiceips of your numismatic purchases. Keep in a separate safe place.
Three reasons for this:
1.) I collect ancient coins. Some are quite valuable. The purchase records help to prove provenance, and if you have bought from a reputable source, you can prove it.
2.) You can keep track of your purchases, and how much you paid for them. This information can be a valuable help, if you eventually sell some items.
3.) You can provide proof of ownership if some or all of your collection is stolen. That can be useful for an insurance claim, or for the recovery of your coins.
Quite simple, just hole punch each receipt when yopu get it, and add it in date order to your receipt file.
Pretty much a 'no brainer', but very few collectors do this to begin with, and just continue with the bad habit of just loosing the receipts , or just throwing them out.
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Pillar of the Community
Canada
1528 Posts |
um.. I shred it after a month and throw it away. I track all my purchases via Excel spreadsheet. I keep it for a month in case I want to return them.
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Pillar of the Community
Canada
3692 Posts |
At this point in my collecting, I've been seeing the light of keeping track of your costs. Keep them for insurance. If you have expensive coins that are harder to replace, take pictures as well.
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Pillar of the Community
Canada
2984 Posts |
Libertad,
Speaking of insurance, some home insurance do not cover coins. Or have a limit on such things as collectibles in which coins fall into.
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New Member
Canada
27 Posts |
I use Excel spreadsheet too to keep track of my purchases + I take a «picture» of the coin's page on RCM with all the specifications + I keep all my receipts in a file. You never know... one day...  |
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Valued Member
 Canada
65 Posts |
Thanks for all the replies
I think I will get a binder and start organizing them, speaking of insurance my insurance only covers coins up to $500 does anyone have the additional coverage? I'm sure my collection is woth more then that.
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Pillar of the Community
Canada
2019 Posts |
I remember when personal computers were first starting to hit the market back in the 90s I believe, and one of the selling points was that it was going to make paper obsolete , well I think we use more paper now then before the PC lol, anyway definitively keep all your paper receipts, it might mean the difference between an extra few hindered dollars to a few thousand depending on the coin if you had all the org packaging and the org receipt say 10/20 years from now or maybe even in less time then that.
Edited by Northerncoins
06/15/2013 06:29 am
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Bedrock of the Community
Australia
21786 Posts |
Paper lasts much longer than hardware or software.
As everybody knows, hardware and software has to be replaced or at least updated every 3 or 4 years. Quite often, stored memory dissappears with the upgrade, unless it is remembered that is has to be re stored on the updated or replaced equipment.
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Pillar of the Community
Canada
3690 Posts |
Yup, a spreadsheet with all of the pertinent specs including invoice number and vendor. Allows me to use pivot tables to see how and where I spend my money.
And a 4 inch binder full of receipts sorted by vendor. I have 95% of my collection supported by paper receipts.
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Pillar of the Community
United States
8904 Posts |
I keep all my receipts. It provides provenance of my collection for the next owners!! (They will appreciate it 3 hundred years from now!)  Edited by Moe145
06/15/2013 1:39 pm
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Pillar of the Community
 United States
2448 Posts |
"You betcha!"  |
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Replies: 14 / Views: 1,862 |
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Posted 06/14/2013 5:44 pm
