We all have our moments of reckless impulsivity...perhaps it was a troll which you snogged/shagged whist heavily under the influence of your favourite alcoholic bevy in some far off foreign land, for others it may have been a poorly thought out online purchase of a silver coin/round that was out of your comfort zone... Here is the opportunity to come clean about that folly once and forever...who will be the first man to step up to the plate, and be willing to subject themselves to the ridicule of the masses? We will try to be gentle on you.... Cheers, Luker
Nothing that I regret, per se.. But there are a few things that, if given the chance, I wouldn't buy them again -- and will probably be the first to go if any decent rise in spot price. Fall into 2 categories: - A handful of 1-oz generic rounds - A handful of low-priced slabbed world coins (Ag) The designs of the rounds are actually half-way decent.. Just that the minting quality isn't exactly the greatest. Not surprising, given they are pretty low-premium. Included in this group are some Scottsdale Reserve rounds (via Scottsdale eBay auctions) & Apmex rounds. Don't recall what else. Probably should just get rid of them, but really can't be bothered. Keeping them around I guess as sort of a reminder what not to buy. I also still have hope for them, as maybe they'll eventually develop some cool toning, which would help detract from the low quality. Might also make for non-special occasion gifts for young extended-family members, or to include as a gift as part of a trade or sale.. Something along that nature. As for the low-priced slabs, they're not awful-looking. Just that there are certainly cooler Ag pieces out there. They're all higher-grade stuff, from the 2000's, going back to the 1960's. Each picked up for less than $50 USD. And these can be divided into 2 further categories.. - When I first started collecting slabbed coins, I wanted to stay under a max $ limit per slab. Was used to paying a certain low amount for raw, and plus I was still learning the ropes of graded coins. I consider these as "starter slabs." Obviously there is a limited selection in this price range for this category. - In the other camp, are the result of low-ball bids. Slabs that I'm surprised I won, given that they could have easily gone for more. And yes, they are legit. Just no real interest from others at the time of auctions. I could probably make a 50-100% return on these if I flipped & re-listed at a fixed price, actually -- just that they would probably take a while to sell. Though if spot were to return to, say, $25 USD or more (ha ha), I could probably sell them pretty quickly, given the Ag content. As with the generics, these slabbed designs aren't half-bad, either. And mostly lower-mintage stuff. All in mid- to high-MS grades. But, there's also cooler things out there, too. Anyway, sometimes I toy with the idea of just getting it over with & putting all the above up for sale at any given moment. Not only would it help improve my overall collection that much more by getting rid of the lower-end stuff, but also free up some cash that could be used elsewhere for some nicer pieces. Regrets from impulsive buys? Not necessarily. Just some ho-hum items, which are chalked up as part of the learning experience that many of us go through. But yeah, I wouldn't mind hearing about some serious "WTF was I thinking??" pieces.. :lol:
I bought a 5oz generic buffalo round. If you didn't think the 1oz could get any uglier try blowing it up 5x times.
I once bought a 12oz generic buffalo---on purpose and without subsequent regret. I use it as a coaster for my coffee cup on my desk at home. It's my only piece of functional silver and every couple months, I wash it along with the rest of the day's dirty dishes. I love my 12oz buff coaster. If I ever find a bigger one, I'll probably buy it because I need a beer mug coaster too.
2008 2oz. Lunar mouse mid $400 us and 2009 ox mid $200.. I jumped the gun and was impatient.. I could've had it for cheaper. I'm just hoping in the future I'll be able to recover that...
Well top of my list would be around the age of 23 going out and getting blind drunk. Woke up the next morning in a crummy hotel room with a 60 year old ginger lady that i had shagged the night before without any memory of it. Yuck right? Well banged her again before i left that morning as well, LOL. Alcohol is not good, alcohol and silver for sale id say would be a terrible mix.
Why wouldn't you buy these again? Like you said, you get more silver for your dollar, so why not? Even though they aren't as good looking, they still melt the same.
Eh, sometimes you get what you pay for. Plus, people's tastes & preferences change, especially as one expands their universe. I knew going in that I was never going to be a strict "stacker," but I became way more of a collector than I ever thought I would. Not to say people can't collect generic / branded rounds, or that all rounds are awful.. I've picked up some other low-premium rounds since, and I think they're great (for what they are). Just have to be picky when it comes to not only who designs them, but also who mints them.
I once paid $75 US + postage for a one ounce silver "$20 Liberty Dollar". I was drinking while browsing eBay.
maples, canadian wildlife, philharmonics, and somalian elephants. Each of these turned white as snow.
I wasted lots of money on blobs (common, generic bullion bars and rounds) early in my gullible stacker journey when silver was around USD $36 / oz. I regret having swallowed hook, line, and sinker the permabull lies which led me to make purchases of blobs that were, in retrospect, impulsive and wasteful. .
Why do people say that? If you are not a child or mentally incompetent somehow, shouldn't you take responsibility for your actions? I am not criticizing your purchase, since I have done similar. I have also thought "darn those online guru pundits", but at the end of the day they did not hold a gun to my head to buy. It was simply that their words matched what I believed, so it was more like bias confirmation. I think, generally speaking, most people who bought at such prices were acting out of GREED vs. being mislead or duped. Many thought those $36 silver ounces would quickly become $100 silver ounces. Just my opinion. Jim
When I started I got a few SBSS rounds. Also some Zombucks. Today I go for Pandas and other semi numis. So you might say i regret buying those before " I know better "
It's a valid opinion and I have already insinuated that I was foolish when I labeled myself "gullible" and "having swallowed hook, line, and sinker the permabull lies" but here's the difference between buying out of greed and my early stacker buying. Buying out of greed 1) First, we have to define "greed". Using Wikipedia, it means: Greed (Latin, avaritia), also known as avarice, cupidity, or covetousness, is the inordinate desire to possess wealth, goods, or objects of abstract value with the intention to keep it for one's self, far beyond the dictates of basic survival and comfort . It is applied to a markedly high desire for and pursuit of wealth, status, and power. As secular psychological concept, greed is, similarly, an inordinate desire to acquire or possess more than one needs. 2) The amount of silver blobs that I purchased was not excessive at all, though I paid a lot more than I should have, which I regret.....so no greed there. 3) The money I used to purchase the blobs was money that I received after liquidating some paper shares of a mutual fund so in effect I was simply transferring value from one asset form to another....so no greed there. 4) The mutual fund was my retirement savings and so the blobs I purchased with the liquidation of that asset became my retirement savings (which it still is)....so no greed there. 5) I have always supported (taken care of, paid medical expenses, etc, etc) rescued animals and wildlife my entire life and there's no reason for me to believe that in retirement that I would no longer do this. So my retirement savings in the form of the blobs I purchased was most definitely not intended to be used just on myself.....so no greed there. 6) Mistakes can happen even with the best of intentions, which mine were....so no greed there. How I was misled through force 1) Many, if not most of the permabulls I had come into contact with are smart people who understand the markets, understand the risks, understand that much of what they were claiming about their end-of-days / SHTF fairy tales was nonsense, and understand how they would personally gain from deceiving others. 2) Coercion is a form of force, often through the use of threats or fear mongering. Many of the permabulls I'd come across used coercion to force people to literally buy into their fear mongering end-of-times imminent-global-currency-collapse rhetoric. It's very potent coercion. 3) I was intentionally led to believe these fearful, imminent end-of-days claims and therefore I purchased silver blobs not so that I could flip them the next day for triple the value, but instead to protect myself from what I was led to believe was going to be a world in peril (global currency collapse and all the alleged horrors that would be a consequence of that) where precious metals was alleged to be the only real money in a post global currency collapse world. The fear mongering they used to coerce was quite deliberate and impressive. Again, I will be the first to admit that I was gullible and foolish but I was not greedy and I was, for all intents and purposes, forced to buy silver (as a result of deliberate and extreme coercion) by those who knew better, who are no dummies, and had the intention to deliberately decieve. I take ownership of my gullible foolhardiness....it was impulsive...I make no bones about that. I have learned a lot since those early stacking days, including learning that it was a mistake to fall for the fear mongering and as a result having purchased something that was extremely over valued. .
Fair enough. But I believe that many of the online guru pundits believe their claims. They have just been wrong. But nobody knows the future. I believe many somewhat "wild" claims will eventually come to pass. The world is moving in a more fubar state than getting fixed, ie., debt, bad economy, currency issues, etc. Yes there are people selling fear to sell products, but that doesn't mean they won't one day be at least partially correct. You seem to infer that I am saying GREED is bad. You need to watch the video. https://www.youtube.com/watch?v=MEaJYeRpl1g Just my opinion Jim
We are all raised to trust. It takes repeated betrayals of trust for many to become "wise" and cynical which may not be much better attributes. I have trusted too only to be betrayed!
