Coins

[Mike or Penny Novack]

>>    
>>
>>>Does anyone have any suggestions on how to handle investments in gold or
>>>silver coins?  It seems like the only way is to treat them as "stock"
>>>accounts, but how do you update pricing?
>>>      
>>>
We need to realize that gnucash is an ACCOUNTING system. In addition to 
doing standard accounting it has been possible to add automated 
revaluation for SOME classes of investments. But not automated for 
investments in general. That does not mean gnucash can't do the 
accounting, just not automated (you have to create your own revaluation 
transactions manually from external data).

Let me try to make clear what I am saying. Gnucash has "extension" to 
handle readily marketable stocks, commodities, etc. That does NOT mean 
it can do automatic revaluation for stocks in general*, anything that 
might be considered a commodity in general**, coins where a component of 
value might not be their value as bullion but as collectibles. 
collectibles in general***, etc. In other words, there are many 
possibilities for investment where, if you wanted continuous revaluation 
you would have to enter annual or quarterly MANUAL transactions to do 
this according to estimates of the new valuation.

Valuations might even be localized! Even were there some national 
quotations for various forest products that wouldn't mean much for me. 
Trees have to be lumbered where they are so it's LOCAL "stumpage" prices 
that would affect my net worth (if I were considering our woodland as an 
investment -- I don't)

Michael D Novack

* Closely held corporations where the stock is rarely traded. Although 
not representing more than a tiny proportion of market share MOST 
corporations are small and of this sort. Shares not readily marketable.

** Some small number of commodities are readily traded, have a futures 
market, quotes exits, etc. But many others are not. Some of these others 
are used for investment purposes but their value might be specific, for 
example "stones" (diamonds --- you can find a regular quote for 
industrial grade diamonds but those of gem quality would depend on the 
particular stones).

*** You can get estimates of probably changes in value, say the last 
auction where paintings by this painter were sold. But that's not more 
than a fuzzy indication.