what's the worst metal purchase you made?

My worst purchase(s) were all the Perth Mint crap i've ever bought. All sold now except for bars and bullion coins. Luckily I only lost around $500 on the numi rubbish.


Scorp
 
worst purchase would be from an LCS who sold me Engelhard Rounds for $36 and ASE's for $40 with spot around $31-$32.

also a couple morgan dollars that have been cleaned but at the time i didn't really know how to tell if they were cleaned...they looked shiney so i figured they just had better luster...i was wrong and hate looking at them.

Silverbulldog
 
My first purchase was my worst purchase.

Only because I used a credit card for an online purchase at Provident and didn't realize it would cost more.

That taught me to lay off the vodka until AFTER I click the "Checkout" button...
 
1 kg gemstone 2012 dragon.

It was a coin for the birth of my son and therefore not a stack or flipping purchase. I could have waited 6 months and saved a lot of $$$$.

Also the coin I got on closer inspection is a bit shyte.
 
my worst purchase was 1 from feebay where a fella tried sending me an empty box. Challenged of cause. I stay the hell away from feebay coins now.
 
-A 10 ounce bar when silver was $46 - paid $470.

-A roll of standing liberty quarters that were 10% under weight because of wear - luckily I made a $60 profit on these when I sold at $36 even though I sold them based on weight, not face value like the person from whom I purchased them.
 
samboyellowsub said:
-A 10 ounce bar when silver was $46 - paid $470.

-A roll of standing liberty quarters that were 10% under weight because of wear - luckily I made a $60 profit on these when I sold at $36 even though I sold them based on weight, not face value like the person from whom I purchased them.
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+1

I used to buy a lot of bulk junk silver and they always sell it on the number of coins, not the actual weight!

Still, if you buy them below spot and sell them when spot rises you won't go far wrong, at least they are never overgraded!
 
i bought some rolls of merc dimes - forgot about those ... i figure i can sell them by the roll much as i purchased them, but yes, i did notice there's some very worn coins in the lot. a problem that arises repeatedly is my impulsiveness, as i grab whatever i've got a mind for in the moment, whether pandas or bars or whatever. but nothing overly-regrettable. except buying on credit - i think that's a mistake, unless, of course, silver goes up.
 
LOL... Perth Mint Coloured Coins seem to be the Nasty Flavour left in peoples mouths when they remember there most shyte trade..

I agree coloured PM coins are the BIIGEST WASTE OF MONEY around... especially now that spot is 20 something and the coloured SHYTE is still $109 ... poor fools who get ripped off .. could be getting nearly 4 oz of bullion for the same price.

As long as people learn.. to start off real slow that is until your knowledge catches up with the cash parked in your bank account!
 
1for1 said:
LOL... Perth Mint Coloured Coins seem to be the Nasty Flavour left in peoples mouths when they remember there most shyte trade..

I agree coloured PM coins are the BIIGEST WASTE OF MONEY around... especially now that spot is 20 something and the coloured SHYTE is still $109 ... poor fools who get ripped off .. could be getting nearly 4 oz of bullion for the same price.

As long as people learn.. to start off real slow that is until your knowledge catches up with the cash parked in your bank account!
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I just bought a 2oz ANDA Coloured PM product from eBay. I was watching the prices a week or so ago and around $330 was average so when I saw one going for $260 I jumped in. Shame I didn't do a bit more research because that was about $30 too much, and I expect the prices to drop a bit more as well.

Anyway it is for the collection so it is not as if I was going to try and make a quick buck on it.

Anyway, I contest the "...especially now that spot is 20 something..." seems a little disingenuous! Sure it is 20 something, that something is about $8! Quite a significant difference. However $8 isn't going to make a 2oz lump of silver worth $280. (that's what the paint and the box are for!)
 
Jislizard said:
1for1 said:
LOL... Perth Mint Coloured Coins seem to be the Nasty Flavour left in peoples mouths when they remember there most shyte trade..

I agree coloured PM coins are the BIIGEST WASTE OF MONEY around... especially now that spot is 20 something and the coloured SHYTE is still $109 ... poor fools who get ripped off .. could be getting nearly 4 oz of bullion for the same price.

As long as people learn.. to start off real slow that is until your knowledge catches up with the cash parked in your bank account!
Click to expand...

I just bought a 2oz ANDA Coloured PM product from eBay. I was watching the prices a week or so ago and around $330 was average so when I saw one going for $260 I jumped in. Shame I didn't do a bit more research because that was about $30 too much, and I expect the prices to drop a bit more as well.

Anyway it is for the collection so it is not as if I was going to try and make a quick buck on it.

Anyway, I contest the "...especially now that spot is 20 something..." seems a little disingenuous! Sure it is 20 something, that something is about $8! Quite a significant difference. However $8 isn't going to make a 2oz lump of silver worth $280. (that's what the paint and the box are for!)
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Not sure its disengenuous at all to be honest.. spot is exactly $27.81 US per ounce, we all check spot all the time right so not sure how i am intending to deceive, also SPOT is ambiguous in itself.. US spot, AU$ spot? Also buying as a function of spot which is usually just a floor price.

Also since ive been investing its been in the 0's, 10's, 20's, 30's, 40's and 50's? so this volatile little metal to me IS currently 20 something although you wouldn't know if you were buying from PM, if you didnt know youd swear spot was $100 per ounce.. dont see how it changes my point which was the $109 coloured PM stuff is almost the price of 4 ounces.. equalling $111.24 assumming you could buy 4 ounces AT spot.

Spot is down over $20 off its high so i think PM's PRICING is what is disengenious.. raising the price as spot got close to $50 but keeping it high despite its mega price down swing, how can PM justify 109 vs spot of 28?

RE: 2oz.. course you paid to much.. but its for a collection so you dont care right? (congnitive dissonance).. who else would pay over four times spot? How much would the LCS give you if you walked in with it today.. i guess spot (20 something per ounce) .. hence why so many people regret buying these,

I picked up those transformers proofs.. LOL.. they suck real bad.. aweful tacky stick ons.. hard to believe they are still selling coins at all when the price vs quality divide is sooo substantial, also the 1/2 clownfish.. looked great in PM site images.. in person its a cheap sticker.. RUBBISH!

1for1
 
PM can set whatever prices they want for their colored crap; as long as people keep buying them they will keep producing them and keep selling them at $109 or whatever inflated price it is.

Vote with your wallets people, don't buy the privy/colored shit and maybe they'll get a hint.
 
2012 kookaburra's when I could have got 1992 or 2005 ones @ a cheaper price... oh for a crystal ball/time machine :(
 
Too true, I only look at the Australian Spot at $28.67 (down 0.07 since I last checked!)

20 something...closer to 30 really but if I was buying bullion for 109 then I just wouldn't. I don't mind paying a bit extra for a nice proof finish (once) or paying a bit extra for a limited edition (maybe twice) or even a gilded (never again).

It is good to have two stacks, one for the money and two for the show (and tell)!

Most of the things I have paid too much for have been things like mistakes and junk silver, where even a small premium is overpaying.

I have never regretted any of my other purchases, just the price at which I bought them.
 
My worst buy wasnt too bad but it did turn me off of coins for awhile.I bought a year 2000 silver proof set for $79.99 from a tv show,and two weeks later I checked out the us mint website who were selling them for $39.99.I never bought coins from a tv show again.I felt so stupid about it.
 
were the steak knives worth the extra $40?
mike titanic said:
My worst buy wasnt too bad but it did turn me off of coins for awhile.I bought a year 2000 silver proof set for $79.99 from a tv show,and two weeks later I checked out the us mint website who were selling them for $39.99.I never bought coins from a tv show again.I felt so stupid about it.
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