Adding my collection to the database: Question about "buying value" entries

As someone who is still rather new to Numista (but who very much likes it!) I have a general question about Numista for which there doesn't appear to be guidance or discussion in the “FAQ” section for “entering my coins”:

For the addition of any coin, there is an entry labeled “buying value” (which the FAQ section indicates is the purchase price for the coin.

First, it might be a good idea to actually change “buying value” to “purchase price”; when I first saw the “buying value” question, I thought it was asking me what I thought the coin was worth - not what I actually paid for it.

Second, since “buying value” actually means “purchase price,” are there any general rules associated with putting in a purchase price for any/all of my coins? I ask this for two main reasons (which are related to each other):

1. Is there a “purchase date" cut-off for entering “purchase price” data about coin entries to the database? I have purchase prices for coins I purchased quite a while ago which are low simply due to time and inflation. Entering the purchase price for these coins into the database would skew the valuations in the valuation table to the low end, which would make it less accurate - right? Since there is no “purchase date” entry to go along with the “purchase price” entry, it is not possible for a site administrator to tell when a low price is entered whether or not it reflects the present-day value of the coin versus the coin's value three decades ago.  

2. The recent price increases for precious metals has pushed up the purchase prices for precious metal containing coins significantly during the past year or two. So, even relatively recent purchases of precious metal containing coins could depress the value of that coin in the valuation table to a value below the present-day bullion value of the coin. How is this handled? Would a purchase price value for any given precious metal containing coin automatically be bumped up to its bullion value if the entered value is below the coin's bullion value?

I have not entered any of my coin into the database because I didn't want to adversely affect the values in the valuation tables by entering old “purchase price” data. 

I personally enter the price I bought a coin for, including shipping and handling, especially for single object purchases.

But there are no rules, some people add coin prices they think there coin is worth, catalog prices, some add shipping and handling some don't. Numista is also trying to reflect a world market that simply doesn't exist in that way (there are countless local markets with some blurry edges).

A single individual should not have to much of an influence on the evaluation and I hope the more recent addition of the time of purchase is dealing somewhat with older acquisition values. Would be nice to get some kind of graph with a time line and maybe some candle indicators like on the stock exchange (but we most likely don't have that much data for that to work for ever year line).

Take any object valuation with a hand full of salt. Not just on Numista though.

thoram2

 

 

1. Is there a “purchase date" cut-off for entering “purchase price” data about coin entries to the database? I have purchase prices for coins I purchased quite a while ago which are low simply due to time and inflation. Entering the purchase price for these coins into the database would skew the valuations in the valuation table to the low end, which would make it less accurate - right? Since there is no “purchase date” entry to go along with the “purchase price” entry, it is not possible for a site administrator to tell when a low price is entered whether or not it reflects the present-day value of the coin versus the coin's value three decades ago.  

 

 

Having gone through multiple hyperinflation periods, and currency changes here in Brazil plus having many coins that I got from relatives, much of my collection was either purchased at zero value, or at a currency that no longer exists. 
Hence, those coins, when I´ve added them to numista, I used catalog values at the time that I added them.
Now, regarding precius metals, the buying value that I added to silver coins a few years ago vs the current numista estimate are way off.

Hello,

You can add a purchase date when entering your collection. More fields can be added in your account settings.

There is no cut-off date beyond which you should not fill the buying value. The primary intent for this field is for your own reference. Feel free to use it!

There is indeed a risk to skew the valuation computed by Numista. However, we ignore outlying values and we do take into account the purchase date (if you indicated it) and the evolution of bullion value.

thoram2

First, it might be a good idea to actually change “buying value” to “purchase price”; when I first saw the “buying value” question, I thought it was asking me what I thought the coin was worth - not what I actually paid for it.

Referring to this, I also think is more clear use the word “price” instead “value” (or at least use the same word always! 😈).

As a translator, I see the different expressions related with the price of our objects used by Numista:

• The “My collection” box and its setting uses:
  Acquisition date
  Acquisition place
  Buying value ❌
• The journal of my collection uses:
  Acquisition date
  Acquisition place
  Value ❌
• Export my collection uses:
  Acquisition date
  Acquisition place
  Buying price ❌

⚠️ Here I write the translation labels that those texts use. This is only useful for Numista developers.

vos_pieces>acquisition_place -> Acquisition place ❓ Is it used?

collec_journal>element>acquisition_date -> Acquisition date
collec_journal>element>acquisition_place -> Acquisition place
collec_journal>element>value -> Value

collec_modal>acquisition_date -> Acquisition date
collec_modal>acquisition_place -> Acquisition place
collec_modal>value -> Buying value

export>col>acquisition_date -> Acquisition date
export>col>acquisition_place -> Acquisition place
export>col>price -> Buying price

votre_compte>collection_file>acquisition_date -> Acquisition date
votre_compte>collection_file>acquisition_place -> Acquisition place
votre_compte>collection_file>value -> Buying value