Keeping track of coins and what you paid

[jmichael99]

I was thinking of using a label maker and assigning a number to my coins (label goes on the airtite) and having them listed on a spreadsheet so I know what I paid for them. This way if I sell I know what I paid. 

 

Thought?  Or a better idea?

 

i only have 7 coins but I started a week ago. Fun hobby so far haha

[Shoba]

Also wanted to add to his post. When pricing what you bought for example you bought 10 Eagles @ 190$ and then bought more lets say 10 Eagles @ 175.50, do you keep your records seperatly or do you like to say I now have 20 Eagles for a ### average. Just curious how people do their numbers & records. 

 

Jmichael99 - Right now for records I just keep a little book where I write down what I bought with quantity and price. You can do it how you like Idk about putting anything on the Airtite and then having to remove it in the future. Just my 2 cents! 

[jmichael99]

This is currently what I'm working on.  Still don't know how to make a clickable link for a picture to pop out.  numbers on MacOS

[swAgger]

I started with a simple spreadsheet. Year and name of coin, weight, qty, cost.That didn't last long and grew over time from just a few titled columns into many more columns, the more details i wanted to refer back to. One thing i'm glad i did was keep every purchase individual, and not combine into averages. For example as you mentioned, 10 eagles on that date for this cost, and 10 others on a later date for a different cost. Because i also added a column recording where the silver spot price was for the purchase, which is very useful to work out what the various premiums were when looking back. For whatever coin series, weight, year, dealer. For this reason i didn't include shipping costs, as i wanted the actual coin costs only. (While i don't bother recording shipping costs, i do bear them in mind). I also have which dealer purchased from (another reason not to bother costing shipping into the figures. Over time you know at a glance a good estimate of the shipping given the dealer and the weight involved). Let's see, what else..... formulas of course for adding total oz's, total costs, total spend each year. It grows and evolves to suit yourself. Hours of fun! You won't crack it straight away but in time and with lots of tweaking it becomes a great customised resource.

One thing i would advise the OP though, you mentioned labeling the physical coins. I wouldn't. Ideally you need records that don't require you to have to physically root out the coins in order to cross reference. Or needing to store them in any particular order. As your stock really grows it's troublesome. The ideal spreadsheet is one that tells you everything you need with the option of not having to even see or refer to the coins for months or years at a time, if you like.

[BackyardBullion]

This is the spreadsheet I use

Bullion Tracking.xlsx

[Gav]

To share how and what I do.

I keep track of the date of purchase, quantities, prices, shipping, taxes, bank fees (any cost that can be attributed to the purchase). This is in a spreadsheet. All paper work i.e. Invoices, are kept with the silver.

Most countries have Capital gains taxes and when selling, have these records will be useful.

[Scuzzle]

I just made an Excell spreadsheet for my coins which are all just bullion with a few semi numismatics.

These are the headings I use, not sure if there is anything I should be adding.

COIN    WEIGHT    TYPE    QTY    D.O.P.  /  COIN DATE    COST PER ITEM INC. ADDITIONALS    TOTAL (INC. ADDITIONALS)    COIN TYPE    SPOT D.O.P
 

[Pete]

Consider additional spreadsheet columns providing location and maybe box number if storing coins in containers on the ocean floor or wherever. 
You might think this ridiculous today but trust me in years to come when looking for a coin you will be glad you took this advice.
 

[jason1977]

Man- this would set some OCD on fire, lol!!!

if I absolutely wanted to know to the penny how much I made or lost on an individual coin, I'd certainly keep those kinds of records. I monitor the price of silver maybe 3 times a day. When the price of silver goes up a buck from where I've buying LATELY, I put a note inside the coin tube on top of the coin with the spot price BEFORE the hike is there.

example: I buy say only 4 Silver Eagles at about $17. Silver is now "pretend" $18 / ounce. I would have to sell those eagles when the spot price of silver is at $23 just to make my money back because eagles have a $5 premium.

It doesn't make sense to me to keep records like these to the penny because I'm not stacking to make pennies. I stack as a safety net and a rollover to gold when spot prices are right. The rest will just be either fun for collectors (which I'm not) and a medium for an outlet for compulsion, lol!!  

[Gav]

I just made an Excell spreadsheet for my coins which are all just bullion with a few semi numismatics.
These are the headings I use, not sure if there is anything I should be adding.
COIN    WEIGHT    TYPE    QTY    D.O.P.  /  COIN DATE    COST PER ITEM INC. ADDITIONALS    TOTAL (INC. ADDITIONALS)    COIN TYPE    SPOT D.O.P
 

Excel is the best, good luck and hopefully your spreadsheet becomes massive.

[Fatmalky]

I started keeping a record of the cost of each coin I got. Now I don't bother but I could see the advantages of knowing exactly how much you spent on each coin