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Come relieve your inner soul and ask forgiveness for the ultimate bullion stacking sin. What is that sin you ask. The spur of the moment, snap decision, want to kick yourself in the butt, what was I thinking bullion buy.
I'll put myself out there and lay down the first in what I hope others will use to receive the mental healing we all need when we make that purchase that we shouldn't have done.

Was on eBay (first mistake, right) in the 90% US silver thread and dropped in to a auction just finishing up to what I thought the description was saying was a auction for 2 1964 Kennedy halves.
Well the description trailed off the auction web page, and to my dismay after placing a bid of $21.00 + $2.00 shipping The auction was for one 1964 Kennedy (which is good) and one 1969 Kennedy half (not so good). You all can figure how much I over paid. I must have some kind of physiological glitch when it comes to purchasing silver. I have to stop and read the description when it comes to such auctions. Thank god this don't happen all that often. If this helps anybody, well some good has come from it.
Ok, may the next person stand up and tell us your name, please. Don't be shy.

The question would not be have I, but which one to confess to first.

A number of years ago when this was all still fairly new to me and it was a bit easier to get mixed up in the lingo (if I get mixed up now I have no excuse, but I'd like to think that back then I was just ignorant rather than stupid), I found an ebay auction for 90% on a "troy pound" of it. I got all excited, put in a last second bid, only to realize when I got it that a troy pound was 12 troy oz, and my bid was based on 16 oz. Ugh. Of course that was at spot being something like $12/oz, so the price of silver has more than made up for that stupid mistake, but I felt like an idiot at the time.

68Camaro, I hear yea and I feel yea. I know that $23 isn't that bad of a price to pay for this lesson, and others have paid a lot more for said lesson. But some times I feel like the person who is up late at night going from one shopping channel to the other. Buying that set of Ginzo knifes and Nome lawn ornaments. And in the morning asking oneself what have I just bought. I will never recoup the premium paid on these Kennedy halves. Not if I was to live to a hundred. As I am writing this all I can do is throw up my hands and laugh!

OK, you may read. But there is an admission price to this show. Come on post your embarrassing buys, it is all part of the healing process.

I ordered a roll of dimes from APMEX at 40x face...plus shipping

Paying $23 for a 1964 and 1969 pair of halves isn't all that bad. Sure it was around $45/Oz but silver will eventually move above that level and overcome the high premium you paid. I checked back on some of the silver buying I was doing last April around the peak. I had picked up two Franklin halves for $32.25 which came out to around that same $45/Oz. If I paid that price today I would call it a pretty bad buy. But at the time I didn't think it was all that bad of a deal and I don't have any regrets for having made the purchase.

But I must confess that I have made some bad buys of my own. When I was buying silver war nickels on eBay a few months back, I bid on one lot containing 20 nickels from 1942 that were clearly described in the auction as the pre-WWII variety but I bid on them like they were silver. Fortunately no one else made the same mistake and the auction ended below my highest bid. But picking up $1 worth of nickels for nearly $6 was a bad buy.

Over on Bullion Stacker I jumped at the chance to buy six wolves to my silver stack for only $200. Nowhere in the listing did they say they were only 1/2 an ounce each, but it gave the year of minting... which if you collect the damn things you woulda known they only produced 1/2's that year. So now I have six half ouch pieces added to the pile. Gonna take a double just to break even.

Don't feel bad man that is a very inexpensive lesson you just got. Doubt there is anyone on here that has not done something similar. Ya win some ya lose some.

I bought a mixed bag of coins from a guy off craigslist. It had some silver dimes, some pre 60 nickels, some old canadian money and some foreign currency. I paid $100 for it all. When I finally sorted it out, I found there to be $30 worth of american and canadian money and silver. That means I paid $70 for a hand full of foreign stuff (no, silver). I took it to the coin shop and they offered me $3. So tried to get rid of it in other ways and ended up selling it at a garage sale for $8, so I lost $62.

I see the meeting is going well. With everybody's input I am feeling a little better about my purchase. It is the old adage "misery loves company". It just helps to vent. It takes the sting out of it.

When silver was on its run up to fifty about six months ago I continued to chase it buying all the way to the peak lets just say I own about 150 oz. in the 38 to 50 range. I was convinced nothing was stoppping it until it hit 68 which was my sell point. So these low prices have helped me average out.

one of my 1st ebay buys, i mistook a walking halve 4a ase. at todays prices, im only out 3 $.

68Camaro wrote:The question would not be have I, but which one to confess to first.

A number of years ago when this was all still fairly new to me and it was a bit easier to get mixed up in the lingo (if I get mixed up now I have no excuse, but I'd like to think that back then I was just ignorant rather than stupid), I found an ebay auction for 90% on a "troy pound" of it. I got all excited, put in a last second bid, only to realize when I got it that a troy pound was 12 troy oz, and my bid was based on 16 oz. Ugh. Of course that was at spot being something like $12/oz, so the price of silver has more than made up for that stupid mistake, but I felt like an idiot at the time.

I have done this exact same thing. It was an expensive mistake.

My second one was buying 'unsearched' rolls of wheats on ebay. The auction promised wheats, indians, and flying eagles. I stupidly believed the lies, and bought the auction. It was $25 face and I paid $600. That is 24x face!! I figured with a few flying eagles, and a bunch of indians, it would worth it. Well, I got no flying eagles, and about $2 face in indians, and the rest were all common wheats.

I was just starting out and had no idea what I was doing (silver was about $12/oz) and I found a 1oz and a 5oz silver Panda on ebay with no bids for only $32! I thought I had won the lottery - 6 oz at less than half spot! I bought them and the same day found a "guide to identifying fake pandas" online. Needless to say, the ones I had bought were the textbook examples of fakes. I decided to keep them as a $32 lesson to pay attention. Still have them, and the lesson has been a good one. But I'm still a little bitter about it.

Plenty of bad buys, but overall still well ahead. After the high of near 50 when it dropped back down to 40 I bought too much thinking a 20% sell off, silver on sale! (I also had a nice padded paypal account from selling some at about 50 which takes off some of the sting) Also on e-bay when I was less experienced I bought a few French Indochina silver trade dollars from a seller who had a bunch. Very nice non magnetic fakes which I did not weigh till much later when it was too late. If anyone wants one for study as a good Chinese fake let me know, will sell cheap! I also bought a 1 ounce "silver" round a couple years ago with a Leonardo Devinci design which looked somewhat off when I bought it but I thought it was just toning, then recently when looking at it I thought wait a minute this does not seem right. Yep a magnet stuck right to it. Lesson's learned. Magnet test and weigh everything!

bought a couple of key date morgans on a yahoo auction site. Didn't look right when I got them so I sent them in to be graded and they came back as fakes. I did get my $900 back from the seller but ate the $60 bucks in grading and shipping. Now I only buy key dates that are graded.

who has not made a bad buy?

I confess to a bad buy. It was around 1982 give or take a year, place was Lackland AFB, San Antonio, TX

One evening I bought 2 fifths of Bacardi Light and they must have been bad - barely got 3/4 of the way thru the 2nd bottle and got sick as a dog. On top of that I had to fly out on a C130 early the next morning. That was one hell of an experience.

Bacardi really should have had better quality control.

It was at least a decade before I could even SMELL rum without my stomach rolling over in protest.

I bought a steak at Applebees once......that was a pretty bad buy.

Rodebaugh wrote:I bought a steak at Applebees once......that was a pretty bad buy.

Going in Applebees was your first mistake.

Rodebaugh wrote:I bought a steak at Applebees once......that was a pretty bad buy.

At least you didn't buy it at Denny's

Denny's defiantly makes me cringe, any food from Denny's makes me cringe!

slickeast wrote:

Rodebaugh wrote:I bought a steak at Applebees once......that was a pretty bad buy.

Going in Applebees was your first mistake.

I was young an stupid then....I experimented with alot of food chains in my troubled youth

OK, here's my lesson learned:

Early 90's I was suckered into the infamous "coins on approval" from a major coin company in New Hampshire (anyone out there with any coin collecting experience knows which one I mean - ads in the sunday newspaper coupons etc.). For a year I was buying anything and everything they sent me, I just had to pay for anything I wanted and mail back the rest. I bought Morgans and Peace dollars and mercury dimes etc.

Then I bought my first coin magazine. Upon seeing the ads for the numerous coin companies with reasonable prices, I realized I was paying upwards of THREE TIMES the retail price of the coins. I cut them off, licked my wounds and started accumulating for better prices. Luckily, I bought from them when silver was $4/ounce. Have since made back my money (on paper).

Don't want to mention the company's name but the town they are in is called Littleton, New Hampshire.

Rodebaugh wrote:I bought a steak at Applebees once......that was a pretty bad buy.

Wow myabe I'm braindead but they seem to offer a steak I prefer over anything else!

Scotty

Changing dollars for PMs is always a good buy! And I surely have never made a bad buy.
I just bought too much from $36-$39. Oh well, when silver is $100 or $150, will it matter?