Here's what happened..
I started up Destiny, then I got disconnected when I selected my character. I tried again, and successfully logged in. I go to my menu while in orbit to switch my Furst Curse to my Regime, and dismantle an exotic armor piece that I don't really need.
Then I go to the tower (I was the only one there) and pick up my Sterling Treasure.
I got a Red Chroma, Green Chroma, and a Spektar Grasps (Melee Attack Speed, Pulse Reload Speed, Blue Chroma slot), which I dismantled into a Yellow Chroma.
Nearly a minute after placing my new Chromas intothe vault, I get disconnected again.
When I logged back into my character, I had the First Curse equipped, and the exotic I had dismantled was back. Everything I had done for the first fewminutes playing never even happened. So I promptly dismantled it again and switched my exotics again.
When I went back to the tower, happy about my retry at some better rewards, and opened up the Sterling Treasure again, guess what I got? Yep, the [b][i]exact[/i][/b] same items, all the way down to the Yellow Chroma from dismantling the Spektar Grasps armor piece (which also had the exact same roll).
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I have 15..I already got the 2 ships the sparrow don't care for the spektre gear and got all the taken armor and the emote..like weeks ago ...