Coin collection audit

RYK

This week, I was mostly off work. After returning victorious from the Steelers-Bengals game on Monday morning, one of my projects was to get my coin collection organized, using my Mac and their "Numbers" spreadsheet program. I had been somewhat derelict in keeping up with my spreadsheet over the last couple years and was looking forward to working with the new software product.

My goals for this project were to:

1. Document and verify the presence all of the bullion and slabbed coins in my collection.
2. Document the coin by year, MM, grade, price paid, slab #, sticker status, date of purchase, and seller
3. Organize first by category (bullion/type/gold) and then by denomination for gold and in order of date for type
4. Be able to generate basic statistical information

What I learned:

1. There were two coins that were "missing". One, upon further research was sold by me, via a Heritage auction six weeks ago, and the other has not been located, but I have a pretty good idea where it is. It is a raw classic head $5 that I had intended to get slabbed but never got around to it.

2. I had some duplicates and even triplicates of dates that I was not aware. For example, I have three dirty 1842 $10's in XF/AU.

3. As usual, the Mac software program is very intuitive and easy to use with excellent in-program help.

4. It is much easier to keep up in real time than to try to fill in the details later on. For example, Mark Feld, if you are reading this, please PM me my cost basis of the 1883 coins I purchased from you .

LanLord

Looks like in order to take care of #1, someone should send you a round tuit!

blu62vette

Now please come audit mine!!!

AnkurJ

I take audits of my three safe deposit boxes once every few months, and document what was taken out, and what was put in.

Coinosaurus

I hate to say it, but this is a good way to make coin collecting not very fun.

Collecting is much more fun than accounting

JCMhouston

#4 is so true, although it took me many years to figure that out. When I get a new coin in it sits on my desk until I enter it in the spreadsheet. Only then can it go into the safe or SDB.

MidLifeCrisis

<< <i>#4 is so true, although it took me many years to figure that out. When I get a new coin in it sits on my desk until I enter it in the spreadsheet. Only then can it go into the safe or SDB. >>


I agree, but this record keeping part of the hobby is absolutely mind numbing.

seanq

<< <i>#4 is so true, although it took me many years to figure that out. When I get a new coin in it sits on my desk until I enter it in the spreadsheet. Only then can it go into the safe or SDB. >>



I used to be religious about this, but right now I have a basket full of torn envelopes and bubble mailers with about six months of newps that I haven't logged. The batch or two before that had a bunch of gaps in the pricing, I need to go back through my PayPal and email histories to find my cost basis on many of them.

I seriously think that the next audit I do is going to be followed by a massive purge.


Sean Reynolds

Lakesammman

If you are like me and hate paying more taxes than necessary, I keep very close track of my cost basis.

AnkurJ

<< <i>#4 is so true, although it took me many years to figure that out. When I get a new coin in it sits on my desk until I enter it in the spreadsheet. Only then can it go into the safe or SDB. >>



A registry set works too, and is more fun.

notwilight

RYK,
My collection is probably in a similar boat to yours. My coins for sale, I keep better track of (it's a business). But the difference is that I don't have any time off in the foreseeable future to do the audit.

I use the excel spreadsheet on a PC and have been using it for years to track both business coin lots and my collection. I just don't keep it up in real time like I should.

I hope you find the missing coin (or figure out what you did with it). Enjoy the feeling of being caught up through the holidays.

--Jerry

ctf_error_coins

Wow, I have been working on a coin audit as well for a couple of weeks now. I collect Error Coins and there are so many different and one-of-a-kind errors that I had to come up with my own cataloging system. Every coin has a code number. I use a filing system method, that is, I use archival heavy duty 20 slot photo slide pages. Then I put the 2x2 coin holders in those, or a 2x2 piece of archival paper for TPG coins with all the slab information on the card. I also use the 2x2 paper cards for the valuable errors in the SDB. I am also in the process of putting cost (with a receipt backing it up) and value on the back of each 2x2. I have over 500 coins in my error type set so this is no small feat. I know I will not be able to find all my receipts, so for those coins, I will pencil in a guess at the cost as well as the current value.

What I still have to do is:

Put all the info into a spreadsheet which I have never built or really used before. I do have a Mac and already have excel and would like to learn enough about the program to build a spreadsheet. The Mac version that RYK is using sounds like it may be a better fit for me. I am extremely interested in hitting the totals button for what I have spent and what the current market value is for the whole collection.

I would also like to have a complete High End photography Catalog of the 500 plus error type set collection which is a ginormous amount of hard work.

Classof67

<< <i>2. I had some duplicates and even triplicates of dates that I was not aware. For example, I have three dirty 1842 $10's in XF/AU. >>



Sounds like time for a sale on the BST!

Coinosaurus

I went to the bank this morning, put three coins in, took two out, and DID NOT update my spreadsheet to indicates whether the coins were at the bank or at home

RYK

<< <i>I went to the bank this morning, put three coins in, took two out, and DID NOT update my spreadsheet to indicates whether the coins were at the bank or at home >>


I am not tracking location, at this point, but it is probably not a bad idea. I am also not tracking the 7070 or my other secret (ahem, seated) raw coin project.

I also have some colonial and obsolete currency, colonial era medals, and other numismatic bric-a-brac that I do not intend to keep records.

Collecting is much more fun than accounting

Let's call it cataloging...

BobSav

Been there done that.
I Used excel and it didn't take as long as I thought.
Found a lot of stuff that I forgot I had and also found some stuff I wish I never bought

Bob

LindeDad

Sounds like some people will have a lot of fun with the IRS when selling.

Longacre

I have a 1798 large cent in my kitchen cabinet that I have not gotten around to putting in the SDB in the past year or so.

MrEureka

I have a 1798 large cent in my kitchen cabinet that I have not gotten around to putting in the SDB in the past year or so.


Longacre - I'm not surprised. In fact, I would not be surprised if you had several safe deposit box keys you have yet to add to your key chain.

BillyKingsley

I thrive on the record keeping aspect of my collection. Sometimes I actually enjoy that more than getting new coins or looking at the ones I've already got.

I can tell you how many coins (and what) I have of each country, each year, and I can even tell you what percentage of my collection a country makes up, thanks to Excel's Pie Chart feature. (For US and Canada I have charts for percentage by denomination. Don't have enough from other countries to do that yet). I can tell you where and when I got roughly half my collection, and beginning with my 2010 additions I can even tell you what order I got them in. Unfortunatly I didn't think to keep that info sooner, or at least not as detailed as I do now.

What I paid for them is not kept, as it doesn't matter to me. (for US coins about 75% were obtained at face value, anyway)

Whenever I get an assorted pound of world coins, I think I actually look more forward to the statistics aspect than anything else.

RYK

Good news:
1. I found the missing half eagle.
2. I found three missing invoices, including the one I asked Mark Feld about.

Bad news:
1. I found two unaccounted for quarter eagles.

TomB

<< <i>Good news:
1. I found the missing half eagle.
2. I found three missing invoices, including the one I asked Mark Feld about.

Bad news:
1. I found two unaccounted for quarter eagles. >>



They were sent to you on approval. I'll generate an invoice and send it to you shortly. I hope you like them!

itsnotjustme

<< <i>It is much easier to keep up in real time than to try to fill in the details later on. >>

The hardest part is actually doing it! I keep a spreadsheet with tabs for purchases and sales.... try to keep much the same info as you. But even that, does not produce an inventory.

ranshdow

<< 2. I had some duplicates and even triplicates of dates that I was not aware. For example, I have three dirty 1842 $10's in XF/AU. >>Sounds like time for a sale on the BST!

I'll second that, but could you wait until after the holidays?

RYK

<< <i><< 2. I had some duplicates and even triplicates of dates that I was not aware. For example, I have three dirty 1842 $10's in XF/AU. >>Sounds like time for a sale on the BST!

I'll second that, but could you wait until after the holidays? >>


Noted!

MikeInFL

<< <i>Bad news:
1. I found two unaccounted for quarter eagles. >>



Wait a second, how can that be bad news?

Are they dipped?