Impulse Silver Coin/Round that you later regretted?

[PeacePeople]

My list starts and ends with every Perth mint item in a box that is year of the Dragon. I still have them all and they're cool and everything, but if I go to sell, I'll lose my shorts...and maybe some others as well...

 

[Jim4silver]

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

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!

Here in my country (US), you have to "trust but verify" as I once heard stated. I do agree with you and mmissinglink in a sense, in that there are some lying, BS pundits out there, but to me they are very obvious to spot. I used to listen to some for entertainment (I'm not going to name names), but virtually none of the dramatic predictions from "inside sources" ever came true. I consider these types of gurus to be like tabloid news and such. I would not take their advice per se, but what they said often resonated with what I believed anyway.

There are many reasons why PM's should do very well at some point in the future.....when, who knows?

Just my opinion.

Jim

 

[mmissinglink]

@ Jim4Silver, I like opinions that are reasonable and so far, yours have been.

That fictional character Gordon Gekko was wrong on all accounts though....greed was responsible for none of the things he claimed. But that's a whole other (worthy) discussion perhaps for another thread.

And yes, I assumed that you understand greed to be a very unsavory behavior. I haven't seen a good case made in favor of greed being a morally responsible behavior. Sure, greed can make one rich....but so can murdering countless innocent people and taking their possessions too make one rich.


As for the permabulls, I used to believe that they actually believed the crap they were spewing but I am convinced now that many don't but since they have a vested interest in that game and the game turned radically 180 degrees from what they were swearing by....they choose to deceive in their own best short term interest. Of course they can claim that they were woefully and pathetically wrong, but I think that many of them are not that screwed up in their thinking at all to not know how bad their advice was....I think I give them a lot more credit than you do in that way. It's not to say that some actually believed their own very bad advice and claims, but I believe that most didn't / don't.

Neither of us have proof either way but humans have a much greater proclivity to do what is easy and self serving than what is just and equitable.



As for "one day", that could be 10,000, 650 or 50 years from now. That's not the time frame that the "silver to da moon tomorrow" permabulls were suggesting at all because a 50 years from now timeline wouldn't cause most people to behave in a reactionary, impulsive way....which is what many of them want I believe.


Anyway, have a nice day!



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[robertc400]

I started (2011) stacking with Perth Mint Proof items at $100 per oz (ouch). Although it took a long time, have sold it all now, thankfully.

 

[Flyinfree]

I started (2011) stacking with Perth Mint Proof items at $100 per oz (ouch). Although it took a long time, have sold it all now, thankfully.

Have you made any profit on this cost ($100/oz)?

 

[robertc400]

I gained quite a bit on the series two Dragon items (had multiples of each), doubled my money on everything there. That might give you a clue as to how much I lost on everything else.
Hence I gained on a few and lost on most - All in all I came out a little in front
If it wasn't for the Dragons I would have lost a lot of money - so very happy there.
I even bought multiples of the first in most series and still lost out.
Personally, not a good buy. Your taking a chance, even on the first of any series.

 

[SilverBullet8241]

Would be happy to sell any of these depending on the offer and I need a trade to get my trade count above 0. These just don't fit at all with my collection/stack and I don't appreciate them. Have a proof 05 Aus open tennis 100yr commemorative half gold gilded coin in its green box with papers looks good 10000 mintage. In a small white box is a ram proof I think 5000 mintage snake with some paper on it inside. Have no other ram don't want it. 1kilo goat and 10oz goat and 10oz 15 kook. The big coins I am sure will do fine but I would much prefer buying pandas with the cash let's say.

 

[Fat Freddy]

"For my sins, I did receive ... " Whilst I was 'stacking' my Predec silver ( by the kilo ), I occasionally found, that my sellers were substituting the odd 'silver medallion' or two ... What I wound up with, was around 20 + oz of nice shiny silver metal, commemorating a variety of occasions and people. When I tried to sell - even at 'spot' - I couldn't get any takers ( on THAT auction site ). So, when is an oz of .999 not worth an oz of .999 ?? WHEN YOU CAN'T SELL IT !!

Look at the bright side... at least they weren't Chinese medallions, so at least there's still hope! Seriously speaking, though... I'd like to see pix of these dogs and I suspect a lot of other people would also probably like to. What mint(s) produced them and what kind of pieces were they?