Keep track of your stack

[FullMetalJacket]

I saw in one of @BackyardBullion's video he put a small piece of paper in a capsule with a coin with the date of purchase, spot and purchase price.

It got me thinking, how accurately do stackers keep track of their purchases and inventory? Do you keep the digital and/or physical receipts? Do you have an excel sheet to log the details?

Asking so I get into best practices early as after will be a pain! ✌️😅

[Peacemaker]

I keep a total and record the average, come time to sell I will research current market value and sell accordingly

[Falcon55]

There is currently a discussion including shared personal spreadsheets examples and other ideas in the Premium Member Lounge, but paid membership is required to view that, amongst other benefits.

 

Personally I only keep a simple online spreadsheet, recording all purchases and sales. This includes- 

Date, item description, weight, quantity, price,  sale price.. also basic seller details(dealer, forum, ebay, private etc).

I keep all paper receipts and have a specific email folder for Precious Metals.

 

[onlyroadtoheaven]

Its an Excel spread sheet for me however on a recent audit I was "up" 1 sovereign. This was both a good from the point of value but a bad thing from an accuracy point of view. I readily look forward to stock take times. 

Receipts are tricky as my purchases are increasingly made on this forum rather than through dealers. I have old receipts which amaze me how cheap some of the purchases were back in the day. 

[FullMetalJacket]

57 minutes ago, Peacemaker said:

I keep a total and record the average, come time to sell I will research current market value and sell accordingly

That's what I was thinking of doing. I have 👍

[FullMetalJacket]

57 minutes ago, Falcon55 said:

There is currently a discussion including shared personal spreadsheets examples and other ideas in the Premium Member Lounge, but paid membership is required to view that, amongst other benefits.

 

Personally I only keep a simple online spreadsheet, recording all purchases and sales. This includes- 

Date, item description, weight, quantity, price,  sale price.. also basic seller details(dealer, forum, ebay, private etc).

I keep all paper receipts and have a specific email folder for Precious Metals.

 

Thanks for the field headers, that'll definitely be useful. I was thinking to do the same with my emails and receipts. Good to know I wasn't going overboard. 😅

[FullMetalJacket]

29 minutes ago, onlyroadtoheaven said:

Its an Excel spread sheet for me however on a recent audit I was "up" 1 sovereign. This was both a good from the point of value but a bad thing from an accuracy point of view. I readily look forward to stock take times. 

Receipts are tricky as my purchases are increasingly made on this forum rather than through dealers. I have old receipts which amaze me how cheap some of the purchases were back in the day.

That Sovereign must've been a good find. 😉

I can imagine losing track of inventory if I dont keep a log.

[onlyroadtoheaven]

1 minute ago, FullMetalJacket said:

That Sovereign must've been a good find. 😉

I can imagine losing track of inventory if I dont keep a log.

I should have said the moral to this story is to buy big chunks of gold or silver so that you don't lose them  

[FullMetalJacket]

18 minutes ago, onlyroadtoheaven said:

I should have said the moral to this story is to buy big chunks of gold or silver so that you don't lose them  

Lol! Good moral! Haha

[RacerCool]

I keep paper receipts for everything which shows what and when, and purchase price.

Also I keep a still-evolving spreadsheet which shows what and quantity, as well as critical dimensions as measured by me. Each capsuled coin has a number written on the capsule relating it to the spreadsheet. 

[Yetiwatch]

I didn't even think of doing this! I know what i have but i haven't recorded what i paid :S

[FullMetalJacket]

15 hours ago, RacerCool said:

I keep paper receipts for everything which shows what and when, and purchase price.

Also I keep a still-evolving spreadsheet which shows what and quantity, as well as critical dimensions as measured by me. Each capsuled coin has a number written on the capsule relating it to the spreadsheet. 

Thanks for sharing. You've given me some ideas. 

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5 hours ago, Yetiwatch said:

I didn't even think of doing this! I know what i have but i haven't recorded what i paid :S

How do you feel about it now? 

[KitboyE17]

19 hours ago, FullMetalJacket said:

I saw in one of @BackyardBullion's video he put a small piece of paper in a capsule with a coin with the date of purchase, spot and purchase price.

It got me thinking, how accurately do stackers keep track of their purchases and inventory? Do you keep the digital and/or physical receipts? Do you have an excel sheet to log the details?

Asking so I get into best practices early as after will be a pain! ✌️😅

If you are stacking/collecting as a form of wealth then keeping a track of your assets is a good idea. A ledger book, spreadsheet etc will help you understand what your asset value is +/- and keeping receipts is handy if you want to sell on the private market. With the price of PMs steadily rising week on week it’s nice to sometimes look at your value and appreciate how much your assets have increased in value compared to how much interest your bank would have paid out. And if you calculate your price per oz then that will help keep you calm when purchasing at the moment with today’s high premiums. 

[Yetiwatch]

8 hours ago, FullMetalJacket said:

Thanks for sharing. You've given me some ideas. 

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How do you feel about it now? 

I feel sleepy because I spent 5 hours last night compiling a list of cost for the last 4 years of collecting... surprisingly i can trace the cost of over 90% of my stack!

[FullMetalJacket]

31 minutes ago, Yetiwatch said:

I feel sleepy because I spent 5 hours last night compiling a list of cost for the last 4 years of collecting... surprisingly i can trace the cost of over 90% of my stack!

Nice work! Hope the hard work pays off (pun intended)

[Coolsmp]

Keeping track of everything you and sell is important. I track my stack via Excell speadsheet. This has date of purchase, where from, how much, factoring in postage costs. How much spot was at the time and weight. 

[LiquidMetalsUK]

I have a memory (gold plated😍😃) stick that I keep in my safe with a spread sheet of every coin-bar/weight/mint/year and price paid every gram of gold and silver is accounted for, also have formulas that calculate total of entire stack so that every time I add or sell it works it out for me

Took a while to put together but it's easy peasy now 

[FullMetalJacket]

37 minutes ago, Jamesd said:

I have a memory (gold plated😍😃) stick that I keep in my safe with a spread sheet of every coin-bar/weight/mint/year and price paid every gram of gold and silver is accounted for, also have formulas that calculate total of entire stack so that every time I add or sell it works it out for me

Took a while to put together but it's easy peasy now 

Of course it had to be gold plated! 😁👍

[LiquidMetalsUK]

In my defense the wife got it for me lol.🤣