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<p>[QUOTE=&quot;Blissskr, post: 3054954, member: 34882&quot;]I don&#039;t bother with it except for a small list/description that is in with my most valuable coins in my safety deposit boxes. Unless you really enjoy record keeping or cataloging extensively is adding to your enjoyment of the hobby I&#039;d avoid it. Or if you plan on trying your hand at dealing and frequently buying &amp; selling in which case you&#039;d need detailed records for taxes. But to me it doesn&#039;t make sense time wise to catalog average coins anymore. </p><p><br /></p><p>A good experience to learn for collecting is trying your hand at just that and liquidating some coins, especially average ones. Or well at least trying too from time to time to give you sense of just how much time you could be wasting cataloging absolutely everything. </p><p><br /></p><p>Perhaps having bought and sold a few collections or looking them over to help people out has tainted my views though. I&#039;ve seen examples where people kept incredibly detailed records including purchase price and their estimate on valuation. And in most cases this doesn&#039;t make it any easier for their heirs or inheritors all it does is give an often incorrect impression of how &#039;valuable&#039; that collection is going to be. Until they find out that the valuation is a pipe dream and assume most dealers are crooks or people are out to scam them. But the reality is that what was paid retail for the average coin rarely equates to the true liquid value of a coin when selling. </p><p><br /></p><p>Imo I&#039;d say a large majority of coin purchases would result in a net loss when selling for the average collector. It seems when estimating or determining value most people use the price they paid retail and don&#039;t figure in the dealers margins for the average bulk liquidation and that&#039;s if a dealer would even buy the lot contents anyways. Or use auction sales, which sure could get an amount higher but again people don&#039;t factor waiting however long it would take to find the right buyer for an average coin or the expense of taxes/sales cost, etc.[/QUOTE]</p><p><br /></p>

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