Hi Ferguson:
Great questions. I have always used tags. I started with small price tags which simply had a catalog number. Then moved to larger tags that have the catalog number, brief description, date of acquisition, the price I paid, and the price I would like to get if I sold it.
The catalog numbers are referenced to Excel files that contain a more detailed description, notes, and a small picture of each item. For the more important pieces, I have an individual Word file for each item, with entries such as Jens has shown, and a series of high resolution pics. The completed Word files are converted to PDF files that are compressed and stored on thumb drives (kept in a safe) and also uploaded to a secured online lock box. I back up my computer once a week to an external hard drive for additional safekeeping.
This may seem excessive, but back in 1997 I had my entire collection stolen plus my computer and disks. The only records I had for insurance purposes were purchase receipts. While I recovered the monetary cost for most of my collection, I had no visual records (all pics were on my stolen computer and disks). I recovered none of what was stolen, and I have not seen a single piece come on the market. It seems someone knew what they were taking.
My records are for multiple purposes, but mainly for whoever comes after me to know the what, when, and how much.
Ian.
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