Do your record certificate #'s and keep good records?

pennyannie

I have been reading the thread where Darktones got ripped off. I realize that i keep poor records of my coins. My home office has a great deal of $$ hanging on the walls and sitting on the shelves. I have a large heavy safe put do not put a lot of faith in that at only around 800 pounds. If somebody really wants it they will take it. Do you keep good records. How do you inventory your raw coins? I have 100's upon 100's of old raw Lincoln wheat cent errors coins that would be a nightmare to photo and record. I do have geral pics of the walls in my office but not each item by itself. I figure than if i get ripped it will be a fight with the insurance company even with excellent records.

BAJJERFAN

For coins with cert numbers its pretty easy to keep tabs with the PCGS registry my inventory thing or use the Heritage My Collection site.

ACactions

I track every piece of coin and currency that I have.

For holdered I track using cert numbers- Then I have a descirption line- Where I try to outline distinguishing characteristics. Then I had my assistant create an inventory system using codes similar to PCGS and I have them on all my coins that are in 2X2's or coin world holders. Then, with currency I have all serial numbers tracked as well as distinguishing marks... My inventory spread sheet is extensive-
From there I try to link to where the coin came from, price paid, PCGS price, and what I believe the coin will re-sale for. One day my stuff may go missing but, for me, more importantly I need a great cataloguing system with instructions in case something happens.

John

OnlyGoldIsMoney

Yes. All of my coins are in PCGS holders. That makes it easy to list them all my PCGS registry inventory. Wherever possible I'll include photographs.

Zoins

How often are stolen coins sold cracked vs. not cracked?

ACactions

Zoins- Is that really a quanitifiable subject?

PerryHall

If a thief is smart enough to rob you, he's probably smart enough to crack your coins out of their slabs. It certainly is a good idea to keep detailed records in case the thief is dumb enough to try to sell them without cracking them out first. One place to keep an eye on is eBay to see if he tries to sell some of your coins on that venue.

BECOKA

I have detailed photos of every coin I own that is worth more than face value.

Steve27

I try to scan every new coin I purchase, and I keep a copy of the paperwork form the purchase. I also have an Excel spreadsheet with all my cert numbers on it.

blu62vette

<< <i>How often are stolen coins sold cracked vs. not cracked? >>



I was around recently when a stolen coin was being offered at a show, it was raw. When the coin was disputed the thief brought in the slab insert to prove what it was. Also filled out a raffle ticket at the front door. Robbers are not smart.

BaronVonBaugh

Most of my expensive coins are in PCGS holders and listed in "My Inventory" with PCGS.
My view of expensive is probably much lower than many people here. The most I ever
spent on a single coin is $1200.

AUandAG

PCGS keeps my records for me. All my slabbed coins I've submitted. I only buy raw!!

bob

RedTiger

I photograph all my new purchases. Some of the older ones, especially raw coins, I did not.

Video or scanning is an option for larger collections. The time involved is much less vs. photography, the trade off is lower quality. For errors, it may not be enough detail, but it is better than nothing. If the choice is nothing or scanning, or a video, then I would choose something.

In any case, what is the recovery rate on home coin collection thefts? I would guess less than 2%, so it is mostly a moot point. Most folks with significant collections use a safe deposit box or similar. Visual evidence may help with insurance claims though.

stinkinlincoln

I take pictures of the slabs, the coins, the cert #'s, everything.

6Sigma

<< <i>I take pictures of the slabs, the coins, the cert #'s, everything. >>



Also do all of the above plus keep everything in safe deposit boxes.

Remember a collector friend who had a complete gem Proof and P-L set of Morgans that were accumulated during the late 60's. Kept them in his home on the mantle in several Capital Holders. I was in the service at the time, and when I returned from a deployment to 'Nam, I learned that theives had broken in and had stolen the complete collection which was never recovered as far as I know.

He was just sick about it, and I must admit that I was as well ... still am, and that's 40 years ago.

stinkinlincoln

SDB's are a collectors best friend.

I keep some coins at home in my safe, but no one knows, not even the girlfriend. Anything over $500 goes to the bank.

pennyannie

If i had to keep my coins in my SDB 99 percent of the time i would not own any. I am going to start some type of list with pics shortly.

RedTiger

<< <i>

<< <i>I take pictures of the slabs, the coins, the cert #'s, everything. >>



Also do all of the above plus keep everything in safe deposit boxes.

Remember a collector friend who had a complete gem Proof and P-L set of Morgans that were accumulated during the late 60's. Kept them in his home on the mantle in several Capital Holders. I was in the service at the time, and when I returned from a deployment to 'Nam, I learned that theives had broken in and had stolen the complete collection which was never recovered as far as I know.

He was just sick about it, and I must admit that I was as well ... still am, and that's 40 years ago. >>



Since joining this forum, I've read, many, many stories like that. Because of all those stories, I have become much more careful about coins on public display, who I talk to about coins, and what I say in those conversations. I now never tell anyone that I buy expensive collector coins. I always reply "a few dollars" when and if the price question comes up. No need to paint a bulls-eye on my back.

Weg

It was just last Wednesday I had a rep from our alarm company over to discuss installing a couple final upgrades. My wife is having difficulty with the additional monthly cost (thankfully not the install portion), but I think all I'll have to tell her is how long it would take for the monthly cost to equal the price of just one of the better coins.

Monday I'm supposed to get with our insurance agent. I have no clue what full insurance will cost, but I have the feeling it won't be cheap.
With the economy in the state it is now, I'll bet the insurance companies are scrutinizing claims as never before. If so, the supporting documentation had better be bullet proof.

Rikey

No. But I will.

I don't see how a photo of a raw coin helps. ?? Inform me.

I collect semi-rare autos. I say one is worth X and the insurance co says it is worth Y. I know it sounds crazy. But that is what happened.

Weg

Rickey,
Turn on your PMs.
Also interested in Krav Maga.