Nosferatu (1922)

Often cited as one of the scariest Horror movies ever made - but aren't they all - this one can actually lay claim to being the original scare flick. In my opinion the few scenes with the Count were quite ominous and the acting was on par with films of the time, but it was the constant cutting back to the insane old man which drove me nuts. He single handedly ruined the film. Other than that, its certainly still suspenseful if you're willing to give it your time and let it build. Don't expect instant shocks, its a mood piece above all.