Having to organize and inventory your coin collection may be something you never thought you would have to do…..especially if you never set out to collect coins as a hobby.
For many folks, once the mint collecting tease bites them, they set down a path of collecting, and accumulating coin after coin after coin. finally all of these coins are going to need to be organized and inventoried .
By the manner, did you know that individuals have been collecting coins as a avocation since about the mid-1800s. They collected based on coin designs, metallic element type, denominations, date of emergence, mintmarks, and finally condition. As the avocation became more popular, face values for coins went improving exponentially, to the degree where a silver dollar coin sold for $ 10 million in 2013. Coins began to be valued for their rarity and condition .
Joshua McMorrow-Hernandez from Coins.thefuntimesguide.com shares these 5 reasons you need to inventory your coins collection. You need to organize and inventory your coin collection so that you will :
- Know which coins you already have
- Know which coins you still need
- Determine the value of your coin collection quickly and easily
- Get an at a glance look at the many coins in your collection
- Document your collection for coin insurance purposes
nowadays that you know why you need to organize and inventory your coin collection, the following challenge becomes “ where do I start ? ? ? ”
Coins expert James Bucki shares 4 ways in which you can organize and inventory your mint collection :
#1. If you are just getting started, or have a small solicitation, a bare three ring binder, newspaper, rule and pen may be all you need. You will want to create some column ( which is why you need that ruler ) to enter the information you want to track. Since these are your coins, your binder and your inventory log, you get to be angstrom creative as you wish to be, equally well deoxyadenosine monophosphate track as much information as you want. however some of the criteria you may want to consider would be :
- Denomination or type
- Your purchase price
- Date you sold coin
- Amount coin sold for
- Notes/Comments on the coin
- Updates on value of the coin
# 2. Another great way to organize and inventory your mint solicitation, deoxyadenosine monophosphate well as form plans for future purchases is to use a checklist. Using a checklist has both advantages angstrom well as disadvantages. One advantage is that it will already be organized by type, denomination, year and mint chump, unlike the notebook mentioned above. One of the disadvantages would be that a checklist won ’ triiodothyronine contain all the data you need, particularly if you pass the coins along to class members or the IRS comes knocking on your door looking for far data on your coin sales .
If you like the mind of a checklist, you can simply add more information to it for each coin in your collection, to protect both you and your heirs .
Whitman, which produces the annual Guide Book to United States Coins ( popularly called “ The Red Book ” ), besides publishes a spiral boundary mint armory log book .
Read more: real – Wiktionary
# 3. Another means to organize and inventory your coin solicitation, specially if you are a ace with Excel, is to create a dim-witted spreadsheet that will meet your needs. You can add lines and column, or erase lines and column. You can sort, account and traverse every mint in your collection .
There are many barren templates on on-line to get you started. Simply google “ Excel Spreadsheet Coin Inventory Templates ” and find one that works best for you .
# 4. If you have an extensive mint collection, then you may decide to purchase computer software to organize and inventory your mint collection. You can purchase a coin inventory software broadcast to get you started for about $ 30 and up. When deciding which software to choose consider the succeed : how easy it is to use, how much ability does it allow you to organize your collection the way you want to organize it, does it download current price data adenine well as revalue your mint collection at current market prices .
Following the above ideas will put you on the way to having a wholly organized and inventoried coin collection. The information is certain to help you when it comes to future purchases, sales or passing your coins along to your heirs .
PGS Gold & Coin’s mission is to provide our customers with “Fair Market Value” in exchange for any unwanted Rare Coins, Platinum, Gold, Silver, Diamond, Jewelry and Collectables! We strive to deliver the highest quality of customer service each and every day. PGS Gold & Coin is locally owned & family operated since 2008. PGS has become one of the most professional and trusted Rare Coin, and Precious Metals Dealers in the area. We are a Certified Coin Dealer by PCGS (Professional Coin Grading Service), NGC( Numismatic Guaranty Corporation), and PMG (Paper Money Grading). We are a proud sponsor of the ANA (American Numismatic Association) and have a BBB (Better Business Bureau) A+ rating.
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