Worst silver purchase.. Can you beat it?

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My biggest mistake was nievety. Started in numis :/ Buying mostly perth Mint proof sets and singles. Sold most of it for 10%, 20% and sometimes 40% losses. Gained a little on some of the first coins in some of the series. An acquaintance then put me onto SS, then I realised the cost difference between numis & bullion. I am very greatfull to that SS member who in his wisdom helped me out, showed me the ropes and continues to do so. Friends, associates and family educating one another is one of the best gifts we can receive. :)
 
DanielM said:
grinners said:
I watched the price go to $50 per oz biding my time.

Saw the price drop 15% in the middle of the night and made a bid.

Felt like a genius at the time having not gotten carried away by the frenzy :D
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I'm sure that that run up to $50 bit a lot of people
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It got me!

When I started stacking I had been looking at the Kangaroos in a local shop but back when silver was $15 they were selling for about $35 so I didn't get any.

There were a whole load online at $50 and I figured they would never sell but as silver hit $49 someone posted a link to them and they were still sitting on the website at $50. It was great getting Kangaroos at spot and at a time when there was a buying frenzy (I already had one, won and paid for auction refunded because the seller ''couldn't find the stock", and incidently the price of spot had gone up dramatically).

I am glad I only bought one of each different type they had rather than being greedy but at the time it was such a mania that I couldn't sleep so I went back online to buy the rest and they were all sold out (probably shouldn't have reposted the link on Silver Stackers).

Gutted now of course but even so, the prices have stayed high on them, you can get them at the coin shows for about $40 so I haven't done too badly.

Sure was fun at the time though :)
 
RetardedMonkey said:
Roll of re-minted Kooks.

It wasn't so much the dollar value (about $38/oz I think) that made it the worst purchase, it was the fact that I saw them on Bullion Bourse before they were on any other stores website, no official announcement from the Perth Mint and no-one here knew anything about any re-mints either.

Naturally I jumped at the chance thinking it's possible Bullion Bourse had just done a small buyback (which I think is a theory that was thrown around at the time). They were on their way to me via post when I found out the re-minting had occured, at which point all the dealers started to stock them, causing the price to drop as the competition intensified among the various larger dealers.

Felt a bit silly, but a bit scammed to be honest.
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92 kooks?
I had a go at them for being cheeky with their description. I feel I was cheated as well but at the end of the day they aren't the worst investment we could have made at the time.
They knew very well what was going on but refrained from telling us until they had no choice - pretty dirty.
Time heals all wounds though, I forgive em.
 
Not the worst/biggest loss around here, but my very first purchases of silver were at the start of 2010 through a MLM called Silver Snowball. Paid about $AU45 for an ASE per month when the spot price was about $AU20/$US17 :o

Fortunately I was able to cancel my subscription a few months later when I ran into some financial difficulties - which in hindsight probably forced me to do some more research and also look for local dealers instead.
 
salty lemon said:
Several hundred phillies at $53 AUD each :|
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:) I feel better now, I bought few hundred ASEs at $51 from a Qld company, did not know about SS back then. top of the market, Still got them. No regrets.

Then prices were going down, another lot.
then few days later another lot, and then I found W Davis and I started buying 100oz , 20oz and 10oz bars cheap prices $3800 for the 100oz at the time. :( :( still excited about it, then found out about SS and SAW THE LIGHT.
Never regrets.

;)
 
roman said:
92 kooks?
I had a go at them for being cheeky with their description. I feel I was cheated as well but at the end of the day they aren't the worst investment we could have made at the time.
They knew very well what was going on but refrained from telling us until they had no choice - pretty dirty.
Time heals all wounds though, I forgive em.
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Yep, those ones.

I thought it was you who I was chatting to about it too.

I'm over it now and have ordered from them since, was just a bit an annoyance.
 
During the GFC I bought a 13 kilo commercial silver bar

At the time I thought the best way to go was to buy as close to spot as possible

Ok I bought it at a good price but it looks ugly and I think it will be hard to find a buyer for when the SILVER PRICE BUBBLE hits.

Now I buy PAMP 1 kilo bars
 
Perth Mint Dragons at $62.50 each from ABC Melbourne + postage

&

Buying older Perth Mint Kook Dates chasing sets and accummulating low mintage and older years prior to the remint watching their value go back to spot + $5

1for1
 
1for1 said:
Perth Mint Dragons at $62.50 each from ABC Melbourne + postage

&

Buying older Perth Mint Kook Dates chasing sets and accummulating low mintage and older years prior to the remint watching their value go back to spot + $5

1for1

1for1
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Still better than ASEs. Lucky to get spot + $3 and no set collectors to push up prices in the future.

When the next metals fad happens heaps of people will pay top dollars for both types. Still a limited and now closed mintage.

Could do a lot worse.
 
tokyoinoz said:
During the GFC I bought a 13 kilo commercial silver bar

At the time I thought the best way to go was to buy as close to spot as possible

Ok I bought it at a good price but it looks ugly and I think it will be hard to find a buyer for when the SILVER PRICE BUBBLE hits.

Now I buy PAMP 1 kilo bars
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It's still a $9,000 bar at spot and I'm sure you will find someone to buy it at spot
I mean look at this one it's still at a premium
http://www.goldstackers.com.au/store/silver-bars/1000oz-bulk-silver-bar.html
 
If you think you have made a poor silver purchase, then why are you even here in this forum? You clearly don't understand silver and maybe you would be better off in a stock trading forum. How many times does it need to be said that you only lose when you sell, and if you can't bear seeing the spot where it is, then perhaps you invested money you couldn't afford. My advice, only invest what you are prepared to lose and always have a plan b and c and that way you'll never have a sleepless night. Sit tight and dont get your frilly panties in twist.
 
Thats bullshit. A loss is a loss. It takes a real man to admit his mistakes and learn from them. As for me two maples for 49 when spot was 46. I pretty much stopped buying when it hit 40. Sure glad I did.
If I hear one more person say its not a loss until you sell Im gonna puke in my mouth.. Well the same goes for any asset class and its a cop out to admitting a loss. Besides why are all you aussies so down? Compared ti US EU or CAD percentages losses youre considerably better off with percentage loss of 5-10 percent less depending on currency.
 
Sargeant Argent said:
Thats bullshit. A loss is a loss. It takes a real man to admit his mistakes and learn from them. .....
If I hear one more person say its not a loss until you sell Im gonna puke in my mouth..
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+1000
 
Sargeant Argent said:
Thats bullshit. A loss is a loss. It takes a real man to admit his mistakes and learn from them. As for me two maples for 49 when spot was 46. I pretty much stopped buying when it hit 40. Sure glad I did.
If I hear one more person say its not a loss until you sell Im gonna puke in my mouth.. Well the same goes for any asset class and its a cop out to admitting a loss. Besides why are all you aussies so down? Compared ti US EU or CAD percentages losses youre considerably better off with percentage loss of 5-10 percent less depending on currency.
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Hey Champ. I purchased a house years ago. it dropped about 5% in value months after. Then a year later it increased 20%. Did I lose after a few months in the investment or did I win after a year in the investment? In case you're wondering, that's not a trick question. I think it takes a real man to admit that he doesn't have the kahunas to stay the course. Only tools think they're going to get rich overnight then have a cry and dump on everything and everyone when once again their greedy dreams have turned to doggy doo doo. Hold your nerve, don't sell, dont realise the loss, and quit puking in your mouth as the acid will spoil your teeth.
 
Silverlicious said:
Hey Champ. I purchased a house years ago. it dropped about 5% in value months after. Then a year later it increased 20%. Did I lose after a few months in the investment or did I win after a year in the investment? In case you're wondering, that's not a trick question. I think it takes a real man to admit that he doesn't have the kahunas to stay the course. Only tools think they're going time get rich overnight then have a cry and dump on everything and everyone when once again their greedy dreams have turned to doggy doo doo. Hold your nerve, don't sell, dont realise the loss, and quit puking in your mouth as the acid will spoil your teeth.
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Is this what you tell the people who bought Silver in 1979?

That they don't have the kahunas to stay the course?
 
RetardedMonkey said:
Silverlicious said:
Hey Champ. I purchased a house years ago. it dropped about 5% in value months after. Then a year later it increased 20%. Did I lose after a few months in the investment or did I win after a year in the investment? In case you're wondering, that's not a trick question. I think it takes a real man to admit that he doesn't have the kahunas to stay the course. Only tools think they're going time get rich overnight then have a cry and dump on everything and everyone when once again their greedy dreams have turned to doggy doo doo. Hold your nerve, don't sell, dont realise the loss, and quit puking in your mouth as the acid will spoil your teeth.
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Is this what you tell the people who bought Silver in 1979?

That they don't have the kahunas to stay the course?
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sorry I don't get your point.
 
Silverlicious said:
Did I lose after a few months in the investment or did I win after a year in the investment?
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Both.
You initially lost 5%. Your wealth was reduced by 5% of the purchase price.
You can tell yourself as many times as you like that you didn't lose because you didn't sell - fact is you could have bought cheaper had you waited, and that cost you 5% in cold hard cash (opportunity loss).
A later rise of 20% does not negate the initial loss, it still remains that you could have been 25% up on your investment, rather than 20% - a loss of 5% to you.
 
wrcmad said:
Silverlicious said:
Did I lose after a few months in the investment or did I win after a year in the investment?
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Both.
You initially lost 5%. Your wealth was reduced by 5% of the purchase price.
You can tell yourself as many times as you like that you didn't lose because you didn't sell - fact is you could have bought cheaper had you waited, and that cost you 5% in cold hard cash (opportunity loss).
A later rise of 20% does not negate the initial loss, it still remains that you could have been 25% up on your investment, rather than 20% - a loss of 5% to you.
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Ok, wish I could offset those paper losses against my actual gains. Shame the ATO doesn't recognise it as a loss unless the asset or investment was sold. The rest of what you said sounds great if only you could predict wich way a market will swing in the short term. But if we could then we would all be bullionaires.
 
Just because one admits hes made a loss doesnt mean they have to sell. Im holding and my real estate has lost value but I dont plan on moving that doesnt change the fact that if I needed to liquidate due to illness, change of lifestyle, divorce, a new business etc. I would be down. Sometimes its not about having the balls to sell you just need the money. That doesnt have anything with balls its just the hard knocks of life.
You dont see any other class of investors in any market as deluded to ignore a 1/3 loss simply by saying theyre still holding.
Im still holding but im not about to try to bs people about how ballsy or smart I am or how Im gonna win with my investment. Sheesh give me a break.
 
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