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How to Inventory Coins

Collections range from artwork to jewelery to coins. People who collect coins for their aesthetic and historical value share some responsibilities with collectors who invest in coins in anticipation of their value increasing. Regardless of the reason coins are collected, the collector needs to create and maintain an accurate inventory, recording both which coins are owned and their value. An inventory is important to a collector who needs to file a police or insurance claim to recoup some of his investment.

Things You'll Need

Notebook and pens
Solid black or white cloth
Digital camera
Camcorder
Voice recorder
Fire safe, lock box for storing coins or access to an off-site lock box

Instructions

- 1
  Gather all the coins that you currently own. Lay the coins out on solid white or solid black cloth and arrange the coins by the organizational pattern that you are most comfortable with. For example, arrange coins by denomination, country of origin, time period and color. Make sure to separate the coins to ensure that you can properly catalog each and every one.
- 2
  Inventory each coin individually. Lay the coin on the cloth and take a digital photograph of both the front and back of the coin. Make sure to place a descriptive tag beside the coin prior to photographing to use as an identifying marker. For example, when photographing a copper coin from the 1900s, make the tag say "Coin 1, copper, circa 1900." Repeat this process for every coin in your collection.
- 3
  Write descriptions for each coin photographed. Use detailed descriptions to explain the coin. Note identifying marks, including blemishes, printing dates and other identifying factors that may or may not have shown up on the photographs. Use these descriptions to create captions for all digital photos taken. Make sure to create a separate computer file for all photographs of your coins and make a copy of the entire file for storage off of your computer's hard drive. Store an additional copy of the photograph and description file in the lock box or safe that contains your original coins.
- 4
  Make a handwritten list that you maintain tracking every coin you own. Type the document in to a word processing or spreadsheet program on your computer for easy access and organization. Make sure to print copies of all inventory lists at least once per month to ensure that you have the most current list of all coins owned readily available. Write beside each coin how it was obtain, whether gifted to you, found or purchased. Include the purchase amounts and the current book values of the coins. Make sure to keep a running total of the complete collection value.
- 5
  Videotape your entire coin collection one to two times per year. To do so, arrange all coins on solid-colored cloth and videotape the coins. Make sure to use the sound function of your recorder and state the date, time and list one by one all coins being documented. Make sure to videotape the list you have created and maintained noting every coin.

Coin Collecting