Worst silver purchase.. Can you beat it?

[Silverlicious]

sorry I don't get your point.

People who bought Silver at $49/oz in 1979 and haven't broken even yet.

Have you told them they don't have the kahunas?

its funny I laugh at the idiots saying back the truck up now is a good buying opportunity etc etc. They were saying that @ $31, then @ the high 20's then again at the mid 20's and now in the low 20's / high teens. lol if you had of "backed the truck up @ $33 an ounce you would be looking pretty stupid now.

The simple fact is it has been an a downwards trend for that last 2 years and could now go sideways for the next 20+ years no one knows.


Like the fool in the other post saying that the US will NEVER EVER be invaded well it HAS happened in the past and it CAN happen again. All of this "great buying opportunity now get it while it is cheap as tomorrow it will be going to DA moon BS is just that total complete EXCREMENT OF A BULL. They dont have a clue and for all they know it could be just like in the 80 where we have 20 + years of sideways movement

Only difference now is that we have emerging countries with insatiable appetites for stuff that requires silver excluding investment demand. We're talking big populations. That said, look up the word precious. They are called precious for a reason coz there's not much of it around and it's bloody tough to get the shit out ofthe ground. With current and future demand, my opinion is that your sideways movement for 20 years from now theory is very unlikely.

 

[pdkbffwleo]

People who bought Silver at $49/oz in 1979 and haven't broken even yet.

Have you told them they don't have the kahunas?

its funny I laugh at the idiots saying back the truck up now is a good buying opportunity etc etc. They were saying that @ $31, then @ the high 20's then again at the mid 20's and now in the low 20's / high teens. lol if you had of "backed the truck up @ $33 an ounce you would be looking pretty stupid now.

The simple fact is it has been an a downwards trend for that last 2 years and could now go sideways for the next 20+ years no one knows.


Like the fool in the other post saying that the US will NEVER EVER be invaded well it HAS happened in the past and it CAN happen again. All of this "great buying opportunity now get it while it is cheap as tomorrow it will be going to DA moon BS is just that total complete EXCREMENT OF A BULL. They dont have a clue and for all they know it could be just like in the 80 where we have 20 + years of sideways movement

Only difference now is that we have emerging countries with insatiable appetites for stuff that requires silver excluding investment demand. We're talking big populations. That said, look up the word precious. They are called precious for a reason coz there's not much of it around and it's bloody tough to get the shit out ofthe ground. With current and future demand, my opinion is that your sideways movement for 20 years from now theory is very unlikely.

Perhaps it's unlikely, however, it is feasible. With an increase of mining, and the fact that silver has still nearly quadrupled in price since 2003 (380%) tells me that it could indeed be sideways for a good amount of time. I think we could see $15 silver before we see $25...and I don't think we'll see $30 again for a while.

 

[bloomst]

I tought this thread was for a laugh on our bad deal...not on 'i bought silver when spot ig higher than today".

 

[Court Jester]

People who bought Silver at $49/oz in 1979 and haven't broken even yet.

Have you told them they don't have the kahunas?

its funny I laugh at the idiots saying back the truck up now is a good buying opportunity etc etc. They were saying that @ $31, then @ the high 20's then again at the mid 20's and now in the low 20's / high teens. lol if you had of "backed the truck up @ $33 an ounce you would be looking pretty stupid now.

The simple fact is it has been an a downwards trend for that last 2 years and could now go sideways for the next 20+ years no one knows.


Like the fool in the other post saying that the US will NEVER EVER be invaded well it HAS happened in the past and it CAN happen again. All of this "great buying opportunity now get it while it is cheap as tomorrow it will be going to DA moon BS is just that total complete EXCREMENT OF A BULL. They dont have a clue and for all they know it could be just like in the 80 where we have 20 + years of sideways movement

Only difference now is that we have emerging countries with insatiable appetites for stuff that requires silver excluding investment demand. We're talking big populations. That said, look up the word precious. They are called precious for a reason coz there's not much of it around and it's bloody tough to get the shit out ofthe ground. With current and future demand, my opinion is that your sideways movement for 20 years from now theory is very unlikely.

well it may keep up with inflation MAY but its not my theory I am looking at the recent history -- 20 years 1985-2005 silver went basically sideways so you are saying China / India didn't exist and or want gold / silver before 2005 ?

Hrmmmmmmmmmmmmmm I think not.

Before 1985 we had a high spike in silver price and then a large drop back down. where it went sideways for a long long time. It may not be 20 years this time but will will be a while.

So like I said the idiots saying back the trucks up now are going to be disappointed. Buy it could be worse I guess like buying hundreds of coins when spot was @ $50 an ounce lol -- I am thankful that wasn't em at least, and it goes to remind me no matter how bad you have it there is probably some one out there worse off than you.

Chin up 1979 silver was $50 an ounce in 2011 it hit that again. So you only have to wait 32 years until you can sell it for what you paid for it again. lol

 

[Silverlicious]

its funny I laugh at the idiots saying back the truck up now is a good buying opportunity etc etc. They were saying that @ $31, then @ the high 20's then again at the mid 20's and now in the low 20's / high teens. lol if you had of "backed the truck up @ $33 an ounce you would be looking pretty stupid now.

The simple fact is it has been an a downwards trend for that last 2 years and could now go sideways for the next 20+ years no one knows.


Like the fool in the other post saying that the US will NEVER EVER be invaded well it HAS happened in the past and it CAN happen again. All of this "great buying opportunity now get it while it is cheap as tomorrow it will be going to DA moon BS is just that total complete EXCREMENT OF A BULL. They dont have a clue and for all they know it could be just like in the 80 where we have 20 + years of sideways movement

Only difference now is that we have emerging countries with insatiable appetites for stuff that requires silver excluding investment demand. We're talking big populations. That said, look up the word precious. They are called precious for a reason coz there's not much of it around and it's bloody tough to get the shit out ofthe ground. With current and future demand, my opinion is that your sideways movement for 20 years from now theory is very unlikely.

well it may keep up with inflation MAY but its not my theory I am looking at the recent history -- 20 years 1985-2005 silver went basically sideways so you are saying China / India didn't exist and or want gold / silver before 2005 ?

Hrmmmmmmmmmmmmmm I think not.

Before 1985 we had a high spike in silver price and then a large drop back down. where it went sideways for a long long time. It may not be 20 years this time but will will be a while.

So like I said the idiots saying back the trucks up now are going to be disappointed. Buy it could be worse I guess like buying hundreds of coins when spot was @ $50 an ounce lol -- I am thankful that wasn't em at least, and it goes to remind me no matter how bad you have it there is probably some one out there worse off than you.

Chin up 1979 silver was $50 an ounce in 2011 it hit that again. So you only have to wait 32 years until you can sell it for what you paid for it again. lol

The general Chinese popluation had no way of buying silver back then, and I believe neither did the Indians, or Russians and half the rest of the population... don't take my word for it though. Go ask Google. I wouldn't be predicting the future on what happened in the 70's or 80's. Don't recall YouTube being around back then for people's 'informal investment education'.

 

[Silver bullitt]

True Bloomst.
Ok, on a light hearted note, I am beginning to wonder if my worst silver purchase was the first one where I figured it was a good idea to start stacking metal as an investment.
just kidding..... Really.

 

[pdkbffwleo]

Chin up 1979 silver was $50 an ounce in 2011 it hit that again. So you only have to wait 32 years until you can sell it for what you paid for it again. lol

Even longer than that when considering $5.00 USD will barely purchase a candy bar...

 

[Court Jester]

The general Chinese popluation had no way of buying silver back then, and I believe neither did the Indians, or Russians and half the rest of the population... don't take my word for it though. Go ask Google. I wouldn't be predicting the future on what happened in the 70's or 80's. Don't recall YouTube being around back then for people's 'informal investment education'.

I am talking about the late 80's 85 until about 2005 that is 20 years where silver didnt move move much. Between those years there was pleanty of opportunty for the people in these coutries to buy.

youtube has been around since 2004 ;p

but still we will see general bullion purchases dont impact the silver price all that much it is a drop in the ocean compared to what is used in industrial uses and what is traded in paper.

We will see

 

[anonmiss]

Perhaps one needs to reframe ones thinking and look at an oft overlooked economic term of opportunity cost. Now the Silver investment has not actually realized a real life loss if no sale has occurred however the opportunity forgone by making such and investment is the cost of holding silver as an asset class as opposed to other another asset class.

Personally however I think if you need to debate such points to justify your position in the silver market them perhaps another asset class is for you.
There is no opportunity cost for a true stacker, just the opportunity to hold something that you own.

(Or in my case make a mistake with a silver purchase and laugh about it, which is what I thought the intention of this thread was. I am quite proud that my error has pics, therefore it did happen and no one else has pics so beat that. :lol: )

 

[Scott McG]

Geepers...with so much vitriol being thrown around here, I am afraid to post anything!

I just wanted to chime in with my worst purchase. Not looking for people to bang their chest to prove how amazingly awesome they are and how stupid I am.

If people are so anti-silver, why bother coming to a site like this? So strange.



Anyway, my bad purchase was, like many others, the first one.

I didn't know where/how to buy silver, but saw that my bank sold it. So, I thought that would make for a good, safe purchase.

I think spot was about $31.00/oz at the time and I bought a 10oz bar. Problem was, they didnt show the actual total until after I clicked the "agree" button and then they threw on the shipping and handling fees.

I wound up spending $370 for that bar.

Not as bad as some, but still a lesson learned.

 

[Sargeant Argent]

I paid 400 for one so dont feel bad.

 

[Court Jester]

Geepers...with so much vitriol being thrown around here, I am afraid to post anything!

I just wanted to chime in with my worst purchase. Not looking for people to bang their chest to prove how amazingly awesome they are and how stupid I am.

If people are so anti-silver, why bother coming to a site like this? So strange.

.

I am not anti silver infact i am still buying little bits here and there

however I am a realist and will call a spade a spade. As it annoyes me greatly that people can BS and say they are happy that they have lost 20-30% of their investment and to back the truck up.

People saying that are the ones you should be wary of.

 

[Silver bullitt]

The jury is still out for me on manipulation.
As far as spot, yes I believe I have made a loss because spot tells me so.
Spot price is worshiped here. Any stacker here who doesn't care what they pay for metal relative to spot is a liar. Just take a look at the bitching about dealer and mint premiums, the hopefuls for price disconnect, the whining about alleged smackdowns. In fact the whole theory of price manipulation only exists because stackers follow spot price - otherwise it would not be of concern to them.

+1 about the manipulation THEORY.
I also SUSPECT spot is manipulated which does not make this a FACT on which to firmly base decisions.

Silverlicious, as far as the ATO position, sure they do not recognize a depreciated asset if it's not a source of actual income. A totally different asset class to PM investment and completely irrelevant,
I think that's why we call it income tax.
It's still a loss to me though and if I were buying a leveraged asset, such as real estate, the bank would certainly take an interest in my balance sheet as part of my proposal and would certainly notice an asset that had depreciated causing a fall in my nett worth.
A LOSS in other words and a reduced capacity to invest in leveraged assets, business expenses or expansion.
But we have been over this delusion before.
Still, nothing like burying your head in the sand to feel safe from danger I suppose.

Edited for clarification.

Maybe you misunderstood me. Buying metals is an investment that can potentially produce an income right?If you lose on that investment then you can offset that loss against the tax payable on gains you have made on other investments such as shares.

No offense intended BTW, I am not trying to be deliberately belligerent.
I do, however, find it annoying that so many insist there is no actual loss if a sale is not made.
There most certainly is a capital loss when any asset depreciates in value and yes I mean in fiat value.
Whether we like it or not the world still runs on oil and fiat currency.
Nothing we do or say is going to change that unpalatable fact.
Silver potentially producing an income? No.
It has a potential capital gain (currently, more of a capital loss) but has no income gain or loss potential at all.
As for capital gain, I hear talk around these parts of a tragic boating accident sending ones' silver to Davey Jones' locker in the event of a capital gain.
My understanding is that silver is not a deductible purchase as far as the ATO is concerned and I may well have such a mishap myself as I just love taking my metals with me on boating trips.
I usually only plan boating trips in the eventuality of metals going into a parabolic price rise though.
That's when the ATO..... errr, fish are biting.
I'll put my PM's in a bait box, should be nice n safe there.

 

[Silver Bullion Boy]

My worst purchase was the dreaded Lunar two 1oz silver dragons, paid 60 each, luckily I only purchased a couple of them before I gave myself a slap! Too easy sometimes to get carried away with the crowd! But on a better note, the future is bright for silver IMO and I've started buying again when funds are available. I believe in silver, no shaky hands here!