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<p>[QUOTE=&quot;masterswimmer, post: 8498238, member: 102022&quot;]You&#039;re making an assumption the OP is filing an insurance claim. That may be the case, but it is certainly a possibility the value is needed for establishing a premium in a new policy. </p><p><br /></p><p>So if you bought your home in 1957 for $18,000 and you&#039;re still living in that home today you&#039;re saying the value is still $18,000 for insurance purposes, even though the FMV is now $425,000? Purchase price and value can be wildly different dollar amounts. Purchase price is a stationary target. Value can fluctuate with time, market, condition and desirability. I beg to differ on your interpretation of value on YOUR COINS as well.</p><p><br /></p><p><br /></p><p><br /></p><p>Once again, you&#039;re assuming the need for value is for an insurance claim. Capital gains or losses are only established when there&#039;s a sale, transfer or loss of said asset. If the asset is still in their possession there is no capital gain to report. </p><p><br /></p><p><br /></p><p><br /></p><p>As you stated, &quot;...value that generally changes instantaneously with time.&quot;, could also mean the Red Book value was correct at some point in time. Establishing value for insurance premium purposes typically means you declare a reasonable value for your asset and the insurance company attaches a premium based on your declaration of value. There is no one exact value in a situation like that.[/QUOTE]</p><p><br /></p>

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