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BackyardBullion

Do you keep proof of purchase & receipts?

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Interesting thought I have just had about receipts. 

If you wanted to prove how much you paid for something - say if you had to claim for a lost parcel or home insurance if you were burgled or if your house burnt down - could you?

Royal mail special delivery covers bullion and coins - but to make a claim you will need a proof of purchase and or a proof of value to claim back anything. Also down the line you might want to protect yourself from capital gains tax by proving how much you bought something for. 

I keep all of my receipts electronically - but I also do have paper versions that come with various orders and/or from coin fairs. I keep them in a fire proof safe (but it is only fire proof for so long). If your house burnt down and your lost all paper receipts what would you do!?

Makes me think about the sales I have made directly here on the forum. People who order via my Website and eBay store get a proof of purchase and/or receipt but all the direct sales I have made on this forum have been done simply by messaging. No receipts. 

With that said - I am more than happy to provide anybody that has bought something from me with a receipt - just get in touch and we can work something out. 

If everybody gets in touch all at once though please expect a short delay!

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41 minutes ago, BackyardBullion said:

Interesting thought I have just had about receipts. 

If you wanted to prove how much you paid for something - say if you had to claim for a lost parcel or home insurance if you were burgled or if your house burnt down - could you?

Royal mail special delivery covers bullion and coins - but to make a claim you will need a proof of purchase and or a proof of value to claim back anything. Also down the line you might want to protect yourself from capital gains tax by proving how much you bought something for. 

I keep all of my receipts electronically - but I also do have paper versions that come with various orders and/or from coin fairs. I keep them in a fire proof safe (but it is only fire proof for so long). If your house burnt down and your lost all paper receipts what would you do!?

Makes me think about the sales I have made directly here on the forum. People who order via my Website and eBay store get a proof of purchase and/or receipt but all the direct sales I have made on this forum have been done simply by messaging. No receipts. 

With that said - I am more than happy to provide anybody that has bought something from me with a receipt - just get in touch and we can work something out. 

If everybody gets in touch all at once though please expect a short delay!

I do the same as you with respect to receipts...both electronic and paper.  I file them when I enter cost basis into my tracking spreadsheet.

For forum purchases, I have always used PayPal.  For each transaction (BYB and non-BYB), I print a copy from my PayPal transaction history and write what was purchased on the transaction summary printout.  These have served as my forum receipts.

Edited by Lr103

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i am impressed by the record keeping here :D, I do have some  receipts for the coins and metals I have bought mainly from companies and e bay , but not all, like things I have bought here  in the sales section , even some for cash! but then again I don't have a lot so don't have to keep track of thousands of pounds of metals, metals are in a fire proof safe but paperwork is not , may be is should be ? .

dean.m

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