How can I track precious metal by weight in Quicken Mac?

rbonner

I'd like to be able to track precious metals by weight and selectable currancy through Quicken for Mac.
For instance, If I have an ounce of gold in my safe, I'd like to note that and multiply the weight by a selectable currency based on current value.

I can't seem to find that option. Is there a way to do it or can Quicken add this option?

RickO

Here's how I do it. I created an investment account of Type "other" and named it "Home Safe". I created securities for the precious metals. For example "Gold" of type Other with no symbol entered (so it doesn't try to download prices. Add shares of the security to the account with a share being an ounce. You just need to remember that a share is an ounce. Then you can update the security price periodically and this will be reflected in the portfolio.

I don't do foreign currencies in my accounts. If you do want different currencies, I think you may need to create separate securities for each one since the security price is set independently of the currency of whichever account is holding it.

rbonner

Thanks for the tip. I did just that and it works fine. I would like to see Quicken add this functionality so I don't have to use a hack though.

Thanks again.

NotACPA

How is it a HACK?  Your SAFE is, effectively, a "BROKERAGE ACCOUNT", at least in Q terms.  It's a place where you hold investments.

What would you expect Q to do differently?