Keeping track of your 'junk'......

1630Boston

How do people keep track of the current value of their silver and gold holdings?
I would like to design an excel spreadsheet but there are many factors.
War nickels, 40% & 90% junk, ASE's, AGE's, bars, etc.
It is easy to input the current spot price and get a melt value based upon the total ounces, but to input the spot prices and get a reasonable "sell" value is a bit more.
For example ASE's would probably sell for more than spot while war nickels might be much less.
In order to get a realistic value what would you use for ASE premiums or junk discounts ?
Just thinking, Thanks

Weiss

Just add a simple formula somewhere. Sum of all eagles in field A9 is 10 for example. Silver value as of today in field A10 is $16.60. Then just add the formula of A9* A10*1.1 wherever you want it, to represent 10 silver eagles @ 1.1X melt of $16.60 each. Or add in a dollar amount instead of a multiplier.
Same thing for war nickels, except using .35 to represent 35% silver (though of course they often sell at a discount).

1630Boston

Thanks @weiss , that's about what I have done. I didn't know if Eagles should be percentage or dollar amount for the premium.
Also discounting 40% and 90%, would buy prices from someone like Scotsman's web sight be the most accurate?
I know it depends on how and to who you sell them, I just don't want my heirs [someday] to be taken advantage of.
Thanks again.

Weiss

What I do is even simpler: I've got a column called ASW.
If I'm adding a new purchase of 10 AU/BU silver dollars in a single row, I'll drop in the actual silver weight from that row in the ASW column: 7.734
( .77344 troy ounces of pure silver x 10 coins)

At the bottom of the column is a total of ASW. Then somewhere else on the sheet is a formula where I can drop in today's spot price and next to it there's the simple total of Spot x Total ASW.

1630Boston

Thanks

metalsaver1970

Spreadsheets are good. I keep track of when bought, how much, and update values once per month. I've also considered heirs being taken advantage of. My solution is liquidating some , to provide immediate cash,and putting specific instructions, in my will. When it's read, I've included an explanation of the metal content and the formula for calculating junk values. That way, they know what they're getting.

bronco2078

I had one that would get the spot prices from kitco . I will try to find it

derryb

For an accurate current value you would need a live feed that included changing premiums for each product. I don't see it as doable.

I just track all costs and total ounces. Value is important to me only when I sell. My Excel spreadsheet then tells me my net and is used to report income. If I want a current estimate of value I just multiply total ounces times spot and kick in some extra premium value.

Total value changes too constantly to worry about it at any given moment unless liquidating is under consideration.

asheland

I rather enjoy not knowing. I just let it pile up.

1630Boston

So I guess just keep track of amounts and storage locations and leave instructions to the heirs with the name of a trusted dealer to contact when time to sell.

metalsaver1970

A trusted dealer may help, but dealers are ever changing. Well depth education and instructions, is important. If heirs really know what they'll have, the less likely to be taken advantage of.

PerryHall

I always keep track of my junk. My precious metals---not so much.

ricko

I really do not maintain a detailed inventory of PM's....since I do not generally sell (I did sell some darkside gold years ago), it is not really necessary. My wife is versed in PM spot prices and understands where I have items of collector value. Cheers, RickO

derryb

An inventory spreadsheet should be designed to provide specific information needed by the collector/investor. This should include any information needed to determine expenses and income (for tax purposes) and ID of items (i.e. slab S/N) in event of theft or loss.

BAJJERFAN

@1630Boston said:
How do people keep track of the current value of their silver and gold holdings?
I would like to design an excel spreadsheet but there are many factors.
War nickels, 40% & 90% junk, ASE's, AGE's, bars, etc.
It is easy to input the current spot price and get a melt value based upon the total ounces, but to input the spot prices and get a reasonable "sell" value is a bit more.
For example ASE's would probably sell for more than spot while war nickels might be much less.
In order to get a realistic value what would you use for ASE premiums or junk discounts ?
Just thinking, Thanks

Why even waste time and $$$ messing with war nickels and 40%? If you get junk like that just sell it off and put the money into something worthwhile like ASEs or AGEs. it simplifies recordkeeping if you can buy in quantity instead of small amounts. Keep track of purchase date, purchase quantity and purchase price. For like items like say 2016 ASEs I like to figure an average cost per coin or roll too.

TwoSides2aCoin

Use a loupe. Jewels are found among junk.

bronco2078

don't be hating on warnickles . I just picked up 10 of them on ebay for melt . They were almost pure black but I spotted a little twinkle and took a shot in the dark. At least 4 are BU coins under all that gunk . The seller said they were wrapped in newspaper under the kitchen sink for 40 years

BAJJERFAN

@bronco2078 said:
don't be hating on warnickles . I just picked up 10 of them on ebay for melt . They were almost pure black but I spotted a little twinkle and took a shot in the dark. At least 4 are BU coins under all that gunk . The seller said they were wrapped in newspaper under the kitchen sink for 40 years

I don't hate on them. To me they make little sense if you are stacking silver for the long haul. Just my cents worth.

metalsaver1970

I don't mind the war nickels or the 40% coins. They have potential. Generally selling, for bargain prices. Buy enough bulk and you can do quite well.