Hi SS'ers...I am stumble on a dilemma with average cost to keep track of my stack. I usually record my purchase by the item and work out an average cost. The future transaction is recorded on the same entry, with a wipe-out to adjust the quantity and average cost. And my strategy is to lower my average cost. Now with spot climbing up, I notice on low premium stuff like 1966 50cents round, my average costs is lower than current market price. Hence if I purchase more, it will bring my average costs up? So what would be a wise strategy in here? Lately I have been swapping it for other stuff, in order to diversify into other low premium stuff, while maintaining liquidity. Should I have done the records by individual purchase with creating a column for the spot price at the time? WOnder what other SS'ers do? Thank You
If you don't use it, Silver Log 3.0 Awesome tool and great way to keep track of everything http://forums.silverstackers.com/topic-27333-behold-silver-log-30.html
Im only 3 months into silver stacking, and i have just keep a record of what i have bought and what i have paid, added up both columns to get a per ounce price with a goal to always bring my per ounce price down and fins myself in the same boat, i cant see me buying anymore silver as the spot has gone up and i would only be increasing my per ounce price, so do i now sell make a small profit and start again or just buy more and increase my per ounce price, only 3 months new to all this so i dont really no, looking forward to some answers on this also
I can help you out bloomst. Give me a portion of your stack. Your remaining stack will then have a higher DCA and as long as you give me enough the current buying prices will be lower and therefore in the range that you can buy and again and again reduce your DCA. Anyone else with similar problems I am also happy to assist.
bloomst in my spreadsheet I have a row for every month, from the beginning up until today. It shows the following: - Date (ie Jan 2012) - USD spot price for that month (I just use the last day of the month price) - What my stack is worth in USD - What my stack is worth in AUD - Avg $ cost per oz for that month (divide total money spent by the amount of Oz's you have) - Total Amount of Oz I have up to that month - Total Money I have spent (AUD) up to that month and a wicked looking chart
So is that mean irregardless what your next pruchase will do to your Average cost...you still buy it?
Well yes of course. Unless the price of silver drops in the mid 20's, every purchase I buy today will increase my total average cost slightly. I'd rather have 1000Oz at an average of $30oz instead of 100oz at $10.
I do in Excel color: blank - silver or other numismatic yellow - gold green - coin sold time to time I adjust the spot for gold, silver, exchange rate as well I keep track of what's an average price on eBay so I know If I overpayed/underpayed for future reference so far(for last 14 months) my average price payed for oz of silver is $28(including numismatic items) ... the cost of silver is negative = -$289, achieved by my average sell price of 53/oz
WB...that is some serious data entry. Mine was just a 4 column down in a black notepad that I hide from my wife. r e s p e c t
I do it because I need keep track of my selling of those coins and profit margins are crucial for me P.S. in comments section I keep track of big purchases more precisely: who I bought from, where I found the seller here is what I do to track my selling
Keeping track of what I buy/sell/trade isn't too important for me because I know I won't be selling for a while and as long as I get a good deal that's what I care about. This is what I currently do, very basic use of note pad. I state if I bought sold or traded, then put the item amount and item name followed by price shipping inclusive followed by spot, here is an example BOUGHT: 1x10oz PM Bar $345 shipped (spot $32.39)
Damn! I just keep records as per the example below: Coin/Bar Description Number Troy Ounces Paid ea (inc delivery) Total 2012 Kookaburra 5 5 $40 $200 10 Bullion 2 20 $330 $660 So its pretty simple but its all you need really !
Man, I wish I knew of this silver log sooner! I just spent the last three days creating my own spreadsheet :/
LOL I'm only 26 and we use to play records. Heck I got my first CD player in 2002 and microwave around that same year. My mum use to play elvis tapes and have dozens of Elvis movies, I thought he was still alive as a kid. Yes my family was 10 years behind the rest of Australia :lol: That's prob part of the reason I'm grew up smart enough to stack Silver
