Although I had been saving nearly all my receipts for coin purchases, I did not have an orderly filing system set up. So now I am going through nearly 10 years of receipts and organizing them into some orderly manner. My question to the gang is.....do you or would you hold on to a receipt for a coin that is no longer in your collection? I don't think it makes sense to do so, but I would like to hear people's thoughts if they feel otherwise. Thanks. Joe
Unless you wish to do so for legal/tax reasons, I see no reason to do so. Of course that's assuming that you followed the law every time you sold one of those coins.
Consider this. If you collect coins for as long as I have been and saved all the reciepts from coins, there would be a monsterous pile of paper that no one really cares about. I've been collecting coin for well over 60 years and I now have absolutely no receipts. In fact I have no receipts for anything any more. Part of the fun of getting old. WHO CARES about what things used to cost?
I could see no reason beyond your own personal info on gain/loss, bought/sold price and maybe determining market trends. Of course there could be so many variables that you would have to collect an astounding amount of info for the actual percentages to outweigh those variables. So to sum up, I do save my reciepts but would not for anything sold. But I also have a collection that is probable only a fraction of what others have and is easy to keep track of. Also many of my coins were purchased in multiple coin lots from auctions and estate sales, so I do this to get an estimate of what I have into a particular coin in case I do decide to sell one.
