How to Catalogue and Inventory a Coin Collection
When I started coin collecting as a kid, I collected coin after coin from any source I could find. In fact, by the time I was twelve, I had accumulated at least three suitcases worth of coins and I was pretty darn chuffed! But the truth is that soon after that, I went down a rabbit hole where I found myself surrounded by so many coins, I didn’t know what to do with them. That’s when I realised that the difference between numismatists and coin accumulators is inventory!
This post goes into detail about a suggested cataloguing style that could help you organize and inventory your coins. It goes without saying that this is just a suggestion and by no means imposes a definitive method. In fact, there’s no ‘one-way’ to inventory your collection. You’re free to cherry pick any ideas that suit the approach that feels right and logical to you. What is necessary though, is that you get started!
If you’re new to the coin collecting journey or you’ve inherited a large collection, the prospect of cataloguing can definitely feel daunting. But my personal experience has shown me that inventory and cataloguing coins is what keeps a collection organized and manageable. This way, the collection doesn’t overwhelm me.
Collating all the information about the coins you have is important because:
You’ll know which coins you already have;
You’ll find duplicate coins that you can put back into circulation;
You’ll have a better idea of what coins you still need;
You’ll be able to assess the worth of your coin collection;
You’ll be able to insure your coin collection, if you so desire.
Step 1: Being cognizant of the various documentation modes available to you
The documentation stage is where the real inventory work begins. Every time you acquire a new coin, make sure to record the details of each coin.
You can record these details via any of the following methods:
Pen and paper- This is most recommended for a novice. Divide a page into multiple columns and then note down the requisite details.
Word documents or Excel spreadsheets- If you prefer noting down details in an excel sheet, feel free to create different sheets for each country and start from there.
Coin inventory software- These software programmes are generally available for purchase on the payment of a fee. They’re recommended for numismatists with fairly large collections. However, if you’re a novice and you’d like to take a stab at using such software, I’d say, “Go for it!”
My personal experience :
When I started out as a kid, there was no way I could afford a computer, so all I had was a pen and paper. In fact, I’ve stuck with the pen and paper method for years! I’ve only just begun to transfer my records onto Excel Spreadsheets. So don’t let yourself be deterred from cataloguing merely because you may not have access to a computer at the time. Just make sure to keep your paper records as organized as possible, and include columns for the relevant details you choose to record.
Step 2: Breaking down your collection down into smaller parts
I’d suggest that before you begin conducting inventory, you break down your collection into smaller sets or groups.
Breaking the collection down, creates smaller easier goals and makes the arduous task of cataloguing less cumbersome. For example, if you’re starting inventory with a collection that looks daunting, you could arbitrarily (or non-arbitrarily) make smaller groups of coins to make cataloguing easier. If you’ve started cataloguing a smaller collection, then you can definitely skip this step.
Helpful tip:
If you have coins belong to medieval periods or time-periods defined by a lack of country-wise boundaries, the task of keeping them separate from the rest of your collection is extra beneficial. If you do have coins that date back to medieval times, it’s advisable to catalogue them separately based on the extraneous factors such as the general time period of their issue, the geographical territory of their issue, design markers, etc.
The reason why you want to catalogue these separately from relatively-newer coins that are issued by governments is that the determinate factors to be recorded will vary significantly. For example, coins from the great Indus Valley Civilization of India (dating back to approximately 3300 BCE to 1300 BCE) are characterized more so by their metallic composition, their design, and the place where they were excavated from by archeologists (potentially). There’s the added difference that coins issued during historical, ancient civilizations or by ancient empires were authorized by kings whose rule stretched over vast geographical areas, encompassing the geographical areas of multiple different modern-day countries. In comparison to this, modern-age coins are defined by are specific to the Indian political and geographical boundary.
Step 3: Inventory-Deciding what details you want to catalogue
Once you’ve divided your collection into smaller parts, you can go ahead and start inventory.
Coins issued from official governments
I’d suggest that you catalogue each coin based on the country of its issue. This gives you a starting base to then record country-specific details. Once you catalogue the country and currency of the coin, you can move on to identifying factors that are specific to the country, for example, the mint and the political history.
As you can see from the excel spreadsheet below, I use different tabs/sheets for each country. Then I record details such as the denomination, the year, the mintage, the designs on the obverse and reverse sides, the political connotations (if any), and anything else about the coin that you find fascinating or have been informed of among other details. Something else to consider recording is the purchase value of the coin while keeping up with its re-sale value, if you don’t have the coin-collection cataloguing software.
Older Coins
If the coin belongs to a transitional period in history- For example, coins issued at a time when state boundaries are being established or reconfigured. You could consider cataloguing the coin as a historic coin of the original territory/country of its issue the newly emerged State, where you can show a nexus between the coin and the State. For example, pre-Independence India consisted of the geographical territory of three modern day countries. The coins in issue during this time period, minted and issued by the then-ruling British government (“the anna”) were utilized throughout this territory. In post-independent India, the anna could be catalogued along with historic Indian coins, despite its wide use throughout the geographical transition of India.
Old coins (perhaps, even historic) coins- As mentioned before, you may not be able to discern the same details as you would for newer coins such as the country of issue, mint, or even the denomination. In this case you could instead consider recording other details, such as the general time and geographical location of issue, known socio-political/socio-economic/ socio-religious conditions prevailing at the time of their issue, the metallic composition of the coin (this could be an indicator of the prevailing socio-economic conditions at the time of issue and geographical location of production), any known details of the ruler/ formal or informal government/ civilization that authorized the issue of the coins, their purchase value, among other details.
Step 4: Create Checklists
As you go about cataloguing, you’re bound to notice patterns that emerge in your collection. Perhaps you notice that you have duplicates of the same coin or you’re missing a coin of a specific mint in your catalogued collection?
This is where checklists come in handy. It’s not just enough to record the duplicates, it’s also important to classify it as duplicate in a designated list, so that you can stay up to date with the actual value and size of your collection. This also makes it easier to understand which coins you may still need for your collection and which coins you can put back into circulation, among other things.
Here are some checklists you could consider making:
General lists of duplicates (could be on a country-wise basis, metallic composition, time period, etc);
Duplicate coins of regular value- that you can put back into circulation;
Duplicate coins of value that you can trade, sell or auction,
An organized list (possibly country-wise) of coins which you want to acquire for your collection;
List of coins that you have sold or traded and the valuation for such trade, etc.
List of reputable traders, auction-houses, sellers and dealers- for your reference.
These are just the basic inventory tips I started off with. Good luck cataloguing your collection!
xxx