Do You Keep Track ?

I have Excel spreadsheets keeping an inventory of all my stamps and the Scott value of my collection(s). I figure it's 95-98% accurate. Where I'm lacking is any real inventory or accounting of my covers and other junk.

The spreadsheets do take a fair bit of time to keep up to date as material comes and goes, but I think the security is worth the effort. And besides what else do I have to do while watching football games and at work?

By security I mean having a way to value the collection for insurance purposes and as a means to better help my wife dispose of my stuff after I'm gone.

I don't really keep track of what I spend on stamps, but I don't usually spend more then what I make. Or at least I try not to. When I sell stuff online, then whatever I make, I hope goes on paypal. Then I use that to buy things for myself. It's not always stamps. Right now I am saving up for a digital microscope. I figure I don't need it that badly. It's just something I want, so I can wait. I also use my paypal account to buy postcards and cross stitch stuff, so it's spread out over a lot of interests.
When I sell stamps at the club, the money is divided into thirds. One third goes back into buying stuff to resell. One third is for my own stamp collection and one third goes for everyday expenses. So I don't know exactly what I spend, but I do know that I very rarely spend more then what I take in. It has happened though, but not often.

Sorry if I started the chicken thing...i appreciate the input..Dude, I agree cataloging an album would be a monsterous thing..Swabbie, I am not concerned about insurance..no one is going to cart my bulky stuff off..and if a natural disaster happens I would just start over..i do want my children to have an idea of the collections worth..it will not change their lifestyles..but I would like to think they would benefit somewhat...

Don't apologize, Phil.

The chicken thing was interesting and fun

KirkS

Phil - After my 'incident' two years ago I am really paranoid about having everything ready if I go to the big stamp auction in the sky unexpectedly.

I haven't looked into insurance yet, but I keep thinking I should.

Greg, have you looked into the APS insurance??i have not invested in any great rarities...if I had say 25 thousand or more to protect thats probably the way I would go..my wife is the insurance professional...she says homeowners would cover a few thousand...but I am not sure about theft !

las you only live once and people who go to the big auction dont worry about what they left behind

Spock you are correct..i have drained the pleasure out of the stamps..i will not lose sleep over what happens to them in the future ! At the auctions you see boxes overflowing with what was once someones pride and joy !!

I've always kept an inventory of my collection on my own spreadsheet, with the catalogue value, much like Greg. This serves to keep track of what I have more than the value, although it's handy for insurance purposes to have an inventory. I've never collected world wide, so it's not such an enormous task as those that do.

Since I started collecting US a few months back, I have been keeping track of what I spend on every stamp (US stamp I should add.) I got the software "StampManage" and use it to inventory the US collection, which includes purchase price (and sale price if you sell.) It's the first time for many years that I've started a new collection from scratch, so I saw it as a good opportunity to keep a record of what I've spent. It's more for interest sake that I keep the purchase price, as I'm still spending money on my other collection that I don't really keep track of, so it's not for budget purposes. I have a similar system to doodles when it comes to my stamp budget, I buy and sell, putting part of the money toward my collection and part into reselling. So I have a floating fund that I use to buy stamps, some to sell and some to keep.

Balf

Balf has a great point here. I actually use it for that reason more than anything. I just use a filter for '0' in the "In Album" column and presto chango I have a want list.

Phil, I haven't looked into it at all but that's where I'd start. Hugh Wood is supposed to be the least expensive good coverage available.

Greg, good choice...not gossip..joint a point of information..some of the older APS members may remember when some years back..there was some controversy concerning the other APS insurer who is also an APS officer..thats as far as I can go on the subject..but I believe Woods is the one to go to...

I usually don't have the money to spend on stamps. So I sell and buy my stuff with the 'winnings'. I have done it this way for years. The more I sell, the more I buy.

All I need is time...and I cannot find any anywhere !

I distinctly remember the APS Insurance dark ages Phil! I think I read something lately that the last of the lawsuits had finally been cleared up.

I do keep an inventory off my mounted collections but that's really only to help me with keeping my want-lists up to date.