Average Price Per Ounce..

[Copperhead]

As a hobby… I play the stock market…(kinda like playing the slot machines from my couch)…I trade low priced, volatile stocks usually < 3.00 per share…Often if the stock drops but I still think it’s a good deal… I’ll buy more at a lower price to average down my price per share…I also buy physical silver as a hobby/investment…In trading stocks, my price per share average is automatically calculated, and I know exactly what my profit or loss will be when I decide to sell…Which got me thinking about my silver investment…Since I’ve bought silver over the years...in varying amounts when the price was high and low.. but never kept any records of my purchases... I realized that if I ever decided to sell any of it I wouldn’t really know what, if any, profit I will have made…While I understand some people don’t have any plans of selling their hordes…I’m curious how many silver collectors keep records of their purchases and know, at any given time, what you have invested per ounce of the silver you own…or if you even care…

 

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[Bean]

I keep track of every purchase that I make.
Even if its one silver dime, I write down what I paid, how many ounce's I got and add that to my total.
I keep a little notebook with all my totals and its great to see what I have and how much I have invested and then I know
how much I could make if I sold it on any given day.
(nothing drops your price per ounce average like crh)
As with any investment you have to keep track of everything or you'll wind up in a mess.


Bean

 

[Copperhead]

Thanks for the reply Bean...Since 90% of my collection is in silver coins and some of my purchases go back more than a few decades when I collected silver just 'cause I liked it.. ...I never have really looked at it as just an investment...I'd never be able to figure an exact price per ounce figure on my collection...heck I've never even totaled up the face value amount... ....I'm going to add up what I've got and give it a 10 dollar an ounce purchase price value(erring on the high side for sure) and go from there....