I was playing PvP on my Titan and instead of hitting the button to load my Iron Banner Perun's Fire, I deleted it, in seconds flat! I was on my Titan at the time. One, it would be super awesome if I could get Perun's Fire back please. I hadn't spent any shards on it yet but it was leveled to all but the last quarter. Second, you guys REALLY NEED to add a "Do you want to permanently destroy this item?" dialog, BADLY. Yes, I know some will complain because of the extra step, but at least with rare and higher items this is really essential as I'm sure I'm not the only idiot who's already made such a mistake.
It's not the cost of the item that bothers me, but the waiting till the next IB, and all the hours spent leveling it. It's not my favorite Charge Rifle, but it was one I was proud to have and used quite a bit. I earned/bought all the gear that was available and very much wanted to keep the full set. (Minus the level 5 shader.)
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Venom is right, Bungie cannot restore deleted or discarded items.