[GNC] Accounting for gold coins

Gary Holtum diamondhranchqh at earthlink.net
Tue Feb 26 16:47:51 EST 2019


Adrian - How do you enter them in ounces?

Gary

-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+diamondhranchqh=earthlink.net at gnucash.org] On Behalf Of Adrien Monteleone
Sent: Sunday, February 24, 2019 9:51 AM
To: gnucash-user
Subject: Re: [GNC] Accounting for gold coins

Gary,

I turned on Trading Accounts and set them in their own account with XAU as the currency. (not exactly the best price source, but it saves me having to look it up and it is ‘close enough’ for estimating net worth until I decide to sell them)

I entered them in the account as ounces.

I did the same with silver using XAG.

I’m still not certain if having Trading Accounts turned on is strictly necessary. I haven’t noticed any issues or errors with them activated.

For numismatics I book them in their own separate account but in USD at purchase price. (and mark to sell price if I ever let go of them)

Regards,
Adrien

> On Feb 24, 2019, at 8:30 AM, Gary Holtum <diamondhranchqh at earthlink.net> wrote:
> 
> I purchased 3 lots of gold bullion coins at different times at different
> prices. I physically have the coins. I want to keep track of their total
> value over time, adjusted as the price of gold fluctuates. How do I set up
> the asset and make the changes in value?

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