Worst silver purchase.. Can you beat it?

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

Guest
Several hundred phillies at $53 AUD each :|

Anyone else paid more for non numismatic silver?



P.s I offloaded most of them to gold stackers for $23 AUD to buy some junior and mid tier miners, trying to get the gains back from these blasted phillharminica's
 
Back when silver was $14-$15 I put a snipe on a tube of American Silver Eagles.

I had only bought 50% pre dec up until that moment, mostly in bulk. Never small numbers of coins and no 999 stuff.

My bidding spreadsheet was set up to work out how much to pay for 50% pre dec so I had to make a hasty formula alteration in order to work out how much to bid. I used to bid spot minus postage. Back then I actually won quite a few.


The calculation looked a bit steep but I had never bought 999 before and figured that it would be twice the usual price of 50% and 1oz coins would weight more than shillings so maybe that was why.

I won the auction!

Well under my calculation for spot.

Something was obviously wrong, I went back and redid the calculation...

In my original haste I used the wrong cell in my formula, instead of the current spot price ($15) I used the cell next to it, the number required to multiply the ounces by to get grams, 31.1.

I had bid nearly double spot, not surprising I had won it for below spot.

At this time silver had only gone up a couple of dollars in the last few years, it didn't look nearly as volatile as it does now. It would take years to make it back on the small gains I was making on below spot pre dec and it wiped out a lot of my gains.

I hid them and vowed not to look at them again.

Took a good 2-3 years before silver picked up enough to wipe out that loss, but it eventually did.
 
bloomst said:
Was this when spot punching at $40?
Click to expand...

I literally bought at the peak at 3am in the morning, totally irrational. I've learned my lesson, that much is certain.
 
silverzman said:
wow - $30/coin x several hundo.....wouldnt it have been better to just wait it out?
Click to expand...

What GP said. The miners are incredibly undervalued compared to the metals at the moment, I needed to diversify a bit.
 
I did this when I was new to silver and had no clue... I bought two 2012 Koalas direct from the Perth Mint. Not from their bullion site, the retail site. The coins came in those gift/display cards. They were $57.50 each and I purchased them separately, paying $7.50 postage each time. A grand total of $130.

*cringes*
 
Matthew 26:14 said:
Mine has to be 1oz Dragons @ $59- ea from Ainslie..... bad bad buy...... everyone who did the same, push 'say thanks' !!!
Click to expand...

Better than $90 a coin :P
 
Guess my silver would cost me about half the price paid if bought now. No chance of replacing my car with such negative equity. Where are all the optimistic stackers from last year hiding these days ?
 
out of interest which miners did you buy?

worst purchase would have to be stack of one ounce bars, saw them going just below spot and late night impulse buy. when they arrived were marked with 100 mills...tips for new players.
 
Photonaware said:
Guess my silver would cost me about half the price paid if bought now. No chance of replacing my car with such negative equity. Where are all the optimistic stackers from last year hiding these days ?
Click to expand...

I'm quite optimistic.
 
dozerz said:
out of interest which miners did you buy?

worst purchase would have to be stack of one ounce bars, saw them going just below spot and late night impulse buy. when they arrived were marked with 100 mills...tips for new players.
Click to expand...

TRY
AZM
SLR
KCN
CAS

And a few others
 
Eruaran said:
Photonaware said:
Guess my silver would cost me about half the price paid if bought now. No chance of replacing my car with such negative equity. Where are all the optimistic stackers from last year hiding these days ?
Click to expand...

I'm quite optimistic.
Click to expand...

Me too. I'm more excited about silver now than in 11'
 
Photonaware said:
Guess my silver would cost me about half the price paid if bought now. No chance of replacing my car with such negative equity. Where are all the optimistic stackers from last year hiding these days ?
Click to expand...

I thought silver stackers stacked silver, not capital gains.
The idea is to get out of fiat, if you are so inured to fiat why stack silver, stack fiat. Why, when you make a capital loss, would you throw it in the face of others? Why bring others down to justify your own failings?

I'm an optimistic stacker, and I have never hid.
 
Non numis: dragons .. Dont ask what was paid,

Numis: My worst purchase (newbie's mistake :| )
Paid $700 for 4coin set tiger s2.
 
You must log in or register to reply here.
Back
Top