Tracking the value of my silver coins

[Zamiel]

Hello all

I'm making a excel sheet with the coins i purchase and i wanted to have a column where i enter the present value of the coins. The idea is to give me an indicator of wether the value of my collection is increasing or decreasing. Has anyone done something like this? How would you go about updating the value of coins? What source would be appropriate in this case?

Thanks in advance.

 

[ScroogeMcDuck]

I use an app called gold price. It shows you when the price goes up or down and you can fill in what pms you bought and how much and how many and the app tallys it all up and tells you what each individual profit/loss you got on them and also a full tally

[Zamiel]

from what i understand that would track spot price of the PM? i'm interested in the value of my coins like queens beasts.. Like if i bought 10 lions when it first came out then i would like to see whats the value today.

[ScroogeMcDuck]

Yeah it just does spot price. Something like profit/loss on premiums i cant help ya

[Agpanda]

@BackyardBullion

[BackyardBullion]

2 minutes ago, Agpanda said:

@BackyardBullion

 

1 hour ago, Zamiel said:

Hello all

I'm making a excel sheet with the coins i purchase and i wanted to have a column where i enter the present value of the coins. The idea is to give me an indicator of wether the value of my collection is increasing or decreasing. Has anyone done something like this? How would you go about updating the value of coins? What source would be appropriate in this case?

Thanks in advance.

 

Premiums are so subjective it would be hard to get something accurate.

But it wouldn't be too difficult to have a few formulas that would work out metal value (based on spot price input) and then premium %

Have a spot price cell (call it A1) and a premium cell (A2)

Formula for a 2 oz QB silver lion =(2*A1)*A2

Silver is £12/oz and 50% premium

=(2*12)*1.5 making £36

Copy and paste for other coins or adjust % and done.

 

[vand]

sorry to rain on your parade, but... just don't bother.. seriously.

Getting back your premium when you sell is possible but it's an imprecise art.

Keep track of spot price and know that you have some premium if you want to try selling in the secondary market. Thinking that YOU can get $20.65 for your 2006 Kookaburra because that's what the last one on ebay sold for is... not helpful.

At the end of the day, it's silver. Don't be so in a rush to convert it back into paper.

[5huggy]

I have a similar formula running across my spreadsheets and to date they have shown to be reasonably accurate =/- a tiny percentage 

Allow for Volume !  tiny percentage error becomes magnified if for example 25 ounce tube of britts et al

[5huggy]

11 minutes ago, vand said:

sorry to rain on your parade, but... just don't bother.. seriously.

Getting back your premium when you sell is possible but it's an imprecise art.

Keep track of spot price and know that you have some premium if you want to try selling in the secondary market. Thinking that YOU can get $20.65 for your 2006 Kookaburra because that's what the last one on ebay sold for is... not helpful.

At the end of the day, it's silver. Don't be so in a rush to convert it back into paper.

Also agree with Vand here -  if and when Ag gets back to or beyond $50 then I don't think too many will worry about the premiums (if they purchased at £/ cost averaging at the current prices)

[Bullionaire]

I suppose you could (similar to another thread on here recently) use ebay sales figures to calculate average sales prices and therefore premiums over spot. This could be done over however many coins of that type were sold in a certain period. I have no idea if this can be imported into excel or how to do it, but it would be cool.

[RoughDog]

I thought of writing some software that uses eBay's developer API and scans the sold listings.  Storing the sell price and postage costs in a database.

Not well, so never got round to doing it.

[dicker]

It depends on how anal you are about pricing. A spreadsheet is all you need with configurability by pct silver and coin type. 

The best bit is building the spreadsheet 🙂

[MHoppy]

Agree with @dicker building a spreadsheet that tracks your own personal strategy is very rewarding.

Keeping a record of the price you paid, spot price at time of purchase, premium paid etc. helps enormously evaluate future purchases. 

[Norskgeld]

I agree with Vand.

The Silver price varies so little it's hardly worth it.

Gold and Silver should be a long term investment in my opinion.

If you're not prepared to hold on to them for 10 years then probably better to buy something else.

I write the total price paid on each coin I have...that includes premiums and p&p so that when I sell them 10 years from now at least I know if I made or lost money.

I just hide them away and forget about them...well, now and again I take them from their hidey place and cackle like a demented loon as I let them trickle through my fingers!! 😀

[Zamiel]

Thanks  for all the input. My reasoning was not to flip coins on a short term basis or anything such thing. I just like data and to measure things like silver BU, and the more precise the better.

[silenceissilver]

2 hours ago, Zamiel said:

Thanks  for all the input. My reasoning was not to flip coins on a short term basis or anything such thing. I just like data and to measure things like silver BU, and the more precise the better.

If you want to keep your PMs for 10+ years, you would also have to consider inflation and here again possibly official inflation rates and real ones, which is pretty hard if you don't have something like shadow stats, the Americans have for the Dollar,  that calculates inflation at, I think the pre 1980 method. I do keep the receipts, that's good enough for me. I could not be bothered to have a spreadsheet for my metal as I think it's way too compliacated. It would only make sense for short term flipping, I think.