How do you track the value of your collection?

Title pretty much says it all. Do you have a spreadsheet? software? Do you even care to do so?

I personally feel that my collection is an asset that impacts my net worth, so I'd like to know how it increases/decreases.

 

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I use a spreadsheet.

But the hard part is assigning a value to each coin.
For the last 20 years I've been recording how much I've paid for each coin.
That leaves a lot of coins out since a good portion of my collection was acquired before that.
But those are mostly my lower value material.

So what other pricing sources are available?
Auction results would be the most accurate.
BUT they may not cover many of the grades you have acquired.
You buy a coin in XF-45 but can only find results for XF-40 and AU-50.
Do you take the mid-point between those two values?
That would be sort of accurate but the scale is not linear.
The more correct answer would be something lower than the mid-point.

eBay is nice because lots of lower valued items are sold there.
But at the same time lots of buyers overpay.
And remember to only count the coins that actually sold.

Otherwise use some online valuing source.
DON'T USE THE RED BOOK.
I believe both PCGS and NGC have their pricing guides.
Then take about 75-80% of those values.
That will get you in the ballpark.

 

I use NGC collection manager. The prices are inflated but so are most other sources. An easy way to keep track of inventory but when it's time to sell, then do the research on each item.

 

I have a red book from just over a decade ago ( 2009 issue ) It had to be printed in 2008 for it to be issued in 2009 ...Surely in over 10 years the prices would have gone up significantly to make those older prices closer...However the true price of a coin is what a person is willing to pay for it like i have said in other threads... I dont know if you know of the set of state medals issued many years ago but they were bronze..I have included a picture of the Colorado issue from that set in here. I am not sure what state it was that got sold but they had to have been issued after 1959 as Hawaii and Alaska were the set....I listed one at 99c in ebay and the bids went crazy...The final price was $102.00 so really to some people the coins are worth more than to other collectors....

 

I would say @kanga has the best solution. What you paid is knowable, "value" is not, really. This is all fine and dandy, and I know a lot of collectors like to keep track of such things.

However, one thing I would say. I do not think one should count the value of their collection as part of their "net worth" in my opinion. Coins are a hobby, and only hobby money should be spent on them. The dangers, if you calculate this as part of your net worth, are manifest. One, you cannot liquidate them quickly for full value. Two, the value is unknowable really, since you could have a good or bad experience in an auction. Three, and maybe most important, is that once you consider coins an investment, you are tempted to spend investment money on them, not hobby money. This is where dealers convince you to spend more than you can afford on your hobby.

This is coming from someone with well over $100k worth of coins in my SDB, but I do not consider any of them financial assets. If my wife and kids want to sell them an put something in their pocket when I am gone, whatever, but until I am gone they are my playthings, not my stocks or bonds.

 

Value: I have no idea what my coin collection is worth beyond melt value.

Cost: I don't keep a record of what I spent on the coins I have bought - why should I if I don't care what they are worth? When I sell a coin I am either upgrading or getting rid of something I inherited (cost=$0) and don't want in my collection. When selling something I research what it is currently worth and hope to get that amount. But since this is a hobby and not an investment, I don't even want to be tempted to figure out if I made a profit or a loss on the coin.

edit to add: I use a spreadsheet to keep track of my collection and melt value.

 

I agree with you to an extent...It really is a hobby but can have some capital gain....Unlike you, my kids will get nothing...I am going to sell what i have, spend and enjoy it and the rest will go to my wifes side of the family . I have lived in USA for almost 8 years and i have not received an email, letter, birthday card, etc etc etc from my 2 kids...So with the money i did have, instead of leaving it to that ungrateful pair of so and so's, i bought HRC pins, gold coins and banknotes...Stamps are finished and only should be used on shipping packages...I am not going to clog up this spot with pics of the packages but with over 40 years experience in buying and selling philatelic and numismatic items, i now want to enjoy them... I sold a dozen krugerands fore just bullion since i have been in the states and have been on 3 cruises...West coast, New England and Alaska.... I am not the average collector anymore as the hobby is fading away...People like myself ( over 60 years of age ) understand the hobby but the kids growing up only want mobile phones or something electronical like computers or games...Call me one eyed if you must but in time when you see i am correct, i will say i told you so...I know this as i have seen it from the mid 1980;s to present with the lack of intrest from the younger generations of today.....OIO

 

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I would rather have a lower graded very scarce date to be fund at all due to low mintages that a higher graded item of the same that only millionares can afford and is out of the everyday collectors price range...I personally think UNC is JUNK and a true coin is one that has been used and has wear on it ...Not saying the fields be destroyed and the high points like the breast of feathers and tallons on the eagle must be all gone but it has to have some sort of design left...Meanwhile i retired at 55 years of age from buying and selling the mid to low end of the market where everyone can afford and i assume you are still working. Have a nice day

 

Many say that, yet it has never been young kids who drive this hobby as new collectors. Almost all young kids lose interest when they discover girls, cars, etc. It has always been 35-45 year old dads, (women are most welcome of course but traditionally men), who look for a hobby when their careers are in place and kids getting older, who take up the hobby seriously. The average age of a coin collector in 1980 was 60, in 2000 it was 60, and today? 60. Now that after 40+ years in the hobby I am now in the 50-60 group, I am finally "normal" I guess. In the next 10 years if the millenials do not start to pick up the hobby I will start to get worried, but not until then.

In my current tiny little corner, ancients, things seem to be booming. Lots of younger guys and gals, price up, etc.

 

A spreadsheet based on what I pay for the coin. Another spreadsheet based on recent sales of similar coins and grades.

 

When you think of what your collection is "worth", do you deduct the 20-25% commission you would need to pay to sell? That is the problem I see with viewing coins as net worth assets. If you want to be realistic, you better know the venues you are quoting would accept your coins to sell, understand that you may have a few fakes on your hands that you do not know about, and THEN factor selling costs into the equation to be more realistic of its "worth". Short of that, you will have a massive shock when you sell of how little of a check you get versus what you feel the "value" of the coins are.

 

I deduct no commissions as I have no plans to sell. If I do sell I would put them in my antique shop and pay no commissions but I hear what you are saying.

 

I agree about the average age of collectors hasn't change, but I do get the feeling that the total number of collectors seems to be decreasing even though the avg age stays about the same.

Someone's got to have some objective data on the total number of US collectors or some anecdotal evidence that could tip toward a trend.

As for tracking the value of my collection, I don't specifically, but I generally have a running loose tally in my mind of the costs and revenue of my collection as it fluctuates in size and composition.

 

I have looked at spreadsheets and understand their use but, I don't have an idea on what the table should consist of. I would appreciate an example that would be helpful. I have Microsoft Word and that includes Excel. I will consult the tutorials to learn more about how to get started.

 

You may not take notice of me as i am always wrong like the others
in here all say i am but use this way if possible....
I have been doing it for over 40 years and has not gone wrong for me.
Type of Coin ( penny, sixpence , Threepence , florin, 1/2 dollar and so on )
Ruler Name ( king tut etc etc etc
Year
Grade ( G , G+ , Fine . Fine + , Nice Fine, G/Fine . a/VF. VF etc etc etc
Cat Value of that certain year.

I am not saying this is the rule of thumb but head your columns correctly

 

Exactly. The only thing older than collecting itself is collectors saying the hobby is dying and the next generation won't care blah blah blah. The expansion of the internet market certainly caused some long overdue price corrections when people were no longer at the mercy of their local shops, but that's different than a lack of interest.

There's very likely more young people than ever in the hobby thanks to the internet, a lot of people just don't know where to look. Coin shows, LCS, and coin clubs aren't how they do it for a variety of reasons one of which is the way a lot of dealers treat younger people if they think you don't know what you're doing. But if you look at IG, FB, Reddit and so on there are a lot of younger collectors.

The doom and gloom just because people are doing it differently now gets so old to keep reading.

 

If it gives you enjoyment, by all means, keep current values on your coins. There are many sources of data with a big range of values for any particular coin. Spreadsheets work fine for this. Realize that for most practical purposes, like loan applications, lawsuits, divorce, and insurance claims, the other party won't take your word for the value of the collection. They'll want their own appraiser to value the collection. I've found that for mortgage applications, lenders don't want to consider collectibles at all.

For coin insurance, the insurer may want a crude estimate of the value of the entire collection. They won't sell you more than this coverage. And they may ask for a list of coins above a certain value. This also to limit coverage. If you make a claim, chances are they, not you, will decide the value of the lost coins for the payout.

Enjoy your collection.

Cal

 

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In regard to sales of similar items, there has to be someone out there at the time you want to sell at the grade you have to get any idea what it can bring...On top of that you wont get full retail as most end up in ebay...

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You say as you see it and i will say it as how i see it.... I got out of the stamp and coin business at the right time as it has just plumetted down hill in Australia and i assume it is world wide....Remember i am looking at it as the shopkeepers side of the counter....The mint product is wiped out as we break up sets to sell individual items that were not issued for general circulation....A good example is the Australian 1985 nickel ( or 5c coin ) . That was the only item never to go in circulation in that year....The sets price is about $22.00 but the 5c coin is over $40.00 simply because it cannot be found in general circulation...I bought 400 of these sets in 1988 at under $10.00 per set making it close to $4000 outlay... In 1997 those nickels paid for a trip to the USA and all spending money accounted for and $1300.00 left over I got wholesale $26.00 per nickel.... Not bad getting over $10,000.00 back for that small investment. Kids were not interested where i am from and it has clouded my judgement on all kids worldwide in our hobby... My kids are 25 and 23 respectively and all they could say is what do we want with that S - - T dad!!!So nothing is left to them and they lose the lot.... I wanted to sell off a lot of stuff to buy them a car each but as they dont care, why bother with them....Now that is the hobbies future...I saw it on a wider scope and have now generalized across the board.... I really hope other people of my vintage sell off what they have and enjoy the rewards of their collecting as the kids coming up the line wont. I dont want to have to say the famous 4 words ....I TOLD YOU SO!!!!

 

Assumptions aren't facts. World coins are actually doing very well over the last few years.

LCS losing out to the internet isn't a reflection on a dying hobby. A lot of the ones that failed were to slow to adapt to a changing market and many others were exposed as having over priced lower quality stuff.

As was mentioned this is NOT a kids hobby. Collecting takes money. Kids do not have money, teenagers may have a few bucks but have ALWAYS been more about dating and partying. For teenagers when the girlfriend wants to go to a movie that ASE purchase is going out the window and you're going on a date instead.

Kids have nothing to do with this hobby. Kids also grow up to be adults and tastes and priorities change. Your grandparents generation said the same thing about your generation for collecting that you're saying now.

It get so old seeing how many people truly do not understand what is actually happening.

 

Why do you think coin prices have gone up?

Perhaps the headline coins in Coin World have gone up, but most coins have not. As my local dealer says, when a 1909 S VDB Lincoln cent came into the shop decades ago, it could be sold immediately. Now "every dealer has a dozen" and buyers are scarce.

If your coins are actually worth several hundred dollars and up, each, you might be able to approach this return, but auctions now have typical 15% or more seller's fees and now many buyer's fees are approaching 20%. 35% of the amount the buyer actually pays (the true cost of the coin) is more realistic and then only for high-value coins.

If your coins are worth $100 or less, each, the return when selling may be less, or much less.

Yes. "Massive shock." Be prepared for it. Many people who have not sold coins have opinions about the value of their coins, however if they have not sold a few thousand dollars worth of coins, they must admit their experience is limited. Their expectations might be colored by hopeful thinking.

My area of expertise is ancient coins. I have numerous paper catalogs from firms from which I bought in the 1980's and 1990's. I look at them for education and entertainment (e.g. during football games which have lots of dead time between plays). The great majority of those coins could be bought for those prices, or less, now.

I think the "EF" US coins that used to be desirable decades ago are less desirable now and have not gone up. It is not fair to select coins that are desirable now and apply facts about them to coins that were bought and desirable long ago. For example, everyone now realizes the importance of extremely high grade to value. Did you recognize that then? Most didn't. Today's hype is about the very best coins but very few collectors were buying them then. How many coins in your collection are worthy of Coin World headlines? How many are typical coins that you can be proud of but less than MS66?

We hear a lot from collectors who assert coins are worth more now. We would be better off hearing from to dealers and from members who have actually sold thousands of dollars worth of coins to dealers or at auction. (By the way, I have.)