Inventory check...

joeykoins

Hi guy's, currently I am on a 2 week vacation. A" Staycation", nowhere planning to go and nothing really special planned to do! To me, these are the best vacations. Rest and Recreation. Whether, at home or nearby. Anyway, so I decided to organize my coin inventory. Really a mess right now. Lol. So I started by running through all my Silver coins (inventory). Never really considered how much I accumulated in the past year. Last year I sold pretty much of my Silver. So I categorized all my denominations. Added them all up and came to a figure! I was very shocked. I did not realize I had purchased all this precious metal in one year's time. Esp. by my purchases. I'm a cheap and inexpensive guy when it comes to buying coins and Silver. The ones that know me pretty well, would agree. Lol. Sure, once in awhile I will pull the trigger and spend a little more than usual but for the most part, ah NO. I really have a tight budget. So this explains my total surprise. Ready? Here is how much I accumulated. $535. WoW! To most of you, that doesn't seem very much, right? but to me, that's a bundle of Silver and Cash. Lol. You know me guy's, I literally, just nickle and dime it! Where the majority of the Silver is, it's in the Jefferson Wartime Nickels and the Morgan's. Many Washington Quarters as well. I still can't believe it. Also this is amazing to me because I have no bars of Silver whatsoever! However, I do possess one Bullion 2- Ouncer.

The odds are, I probably won't be selling these pieces of Silver anytime soon but just to know that I have this in my back pocket is a pleasurable thought. When was the last time you guy's took inventory? Whether, it's your Silver, Gold or just some completed sets that you never thought about to get a figure of value? Just thought about this. Silver, was approx. $5-$6 higher only 2or3 weeks ago. If I took inventory than, my final figure would have been much, much higher. Shhishh! Thanks guy's This Hobby Rocks.

AlanSki

My father has ledgers of every coin he has ever purchased, from who, the month, day, year, amount the coin was, and amount he sold it for, to who, and month day and year. This goes back from the 60's to now.

Could you imagine trying to tally the numbers from that?

ShaunBC5

I’ve got a printed spreadsheet that was started in the 90s and goes through about 2006. The file was lost in a computer crash and I’ve written a few new purchases in the margins, but not on the last 7 or 8yrs. I need to start fresh and get a new file going...but it’s so much time to recreate what I already did, plus adding the last few years to it.
Maybe my 10yr old needs a project/punishment...hmmm...

ricko

I have never done an inventory. Just before I retired, I purchased a coin software program. Was going to do an inventory when I retired....get everything recorded. Yeah, right. I have no idea where that software is right now... have had seven computers since then, and much of my older collection is still in boxes. No time for such a major project. How did I ever find time for my career. Another busy day today....I doubt that old software would even play on my computer now. Cheers, RickO

joeykoins

My project of an inventory check with the small amount of collection that I possess can pale in comparison to you RickO and many other members here. My accomplishment in calculating my Silver only took me approximately 2 hrs. I can imagine, for instance, your's RickO.
My next project won't be so quickly obtained. I have to place many of my coins in various flips, then into an album. In time, I did accumulate many, many quick buys of marvelous coins. Many for toning pleasure. Also, many varieties in different denominations. This, I imagine will take a chunk of my vacation. Lol. I figure, when else could I do this? I could wait until I retire but that won't happen until three more years. Lol

CoinHoarder

Joey,

I am a dinosaur, and this is how I do it.

Do a good inventory, and record every coin that you have.

Then after that, record each purchase as you get it. For instance I record the date, denomination, price and where I bought the coin.

I record mine in three different record books. After I get a coin, as soon as I can, I record the information in these books. That way, I know what I have.

When and if I ever sell these coins, I will update my records.

Use a pencil so that you can update your totals, or correct errors.

I know it's not practical in this day and age, but it works for me. I will not lose my inventory in a computer crash.

Good luck with whatever you decide!

bsshog40

I've used coin manage for quite a while now and stayed on top of it. But the last 2-3 years, their software is never up to date, coins are missing and you have to manually enter them. Got tired of that so my inventory has gone down a bit. I may try to export it into excel one day but depending on how its exports, that could become a task to rearrange in itself.

ctf_error_coins

I give all my coins a SKU #

I can find anyone of my coins in less than a minute.

joeykoins

@CoinHoarder said:
Joey,

I am a dinosaur, and this is how I do it.

Do a good inventory, and record every coin that you have.

Then after that, record each purchase as you get it. For instance I record the date, denomination, price and where I bought the coin.

Wow. A very good and accurate system. Good advise, dude. That is key, I think, what you said about as soon as you get the coin/s, write down all the documentation. That is vital. Good idea. Esp. When we move on, depart from this world, and want to leave our collection to our love ones. This way, they won't have to guess or search for the value or history of each coin. Right on, brother. Thanks

bsshog40

This thread made me get off my butt and see if I could export from CoinManage to Excel. It took a little bit to figure out their reports but I was able to export each of my collection categories. My collection was categorized in CoinMange ie: proof sets, registries, Morgans, etc... I like the way it exported and probably now do away with CoinManage and just update my excel files. Here's a small screen shot example of how it looks.

joeykoins

@bsshog40 said:
This thread made me get off my butt and see if I could export from CoinManage to Excel. It took a little bit to figure out their reports but I was able to export each of my collection categories. My collection was categorized in CoinMange ie: proof sets, registries, Morgans, etc... I like the way it exported and probably now do away with CoinManage and just update my excel files. Here's a small screen shot example of how it looks.

Very cool! Now, that's clear and pronounced. Sorry, didn't mean to put ya to work. Lol. Tedious, but we all have to admit, it's a labor of love!

pointfivezero

Here's a peek behind my curtain:

joeykoins

@pointfivezero said:
Here's a peek behind my curtain:

Nice Library, dude. Lol
Here is just the beginning.