Good records turn a pile of metal into a portfolio. Here is exactly what to write down for each purchase, and what to keep with each piece.
Short answer: for every purchase record the metal, product, weight, purity, quantity, total price including fees, date, seller and storage location, and keep the invoice, a photo and any serial number. With those fields you can work out cost basis, premium and gain for the life of the piece.
These records let you calculate your cost basis and gain, support an insurance claim, and help your family find and value the metal. They also let you check an offer against your cost per gram when you sell.
Record each purchase the day it arrives, while the details are fresh. It takes a minute, and it is far harder to reconstruct months later. Keep a copy of the invoice away from the metal.
Check your records against what you actually hold and where it is stored, and fix any differences. Our guide on leaving records your family can use covers the next step.
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