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I bought one of the new proof APE coins.

PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭
in Precious Metals
It appears to be a flop. Is this now just another piece of bullion? What are the raw coins selling for these days? It's scheduled to be delivered today and I'll probably just keep it as it has a nice design.

Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire

Comments

  • MsMorrisineMsMorrisine Posts: 33,088 ✭✭✭✭✭
    What is flop about it?

    No resale premium?
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭
    Originally posted by: MsMorrisine

    What is flop about it?



    No resale premium?





    Everyone was predicting a quick sell out which happened (less than an hour) but it appears that most of the buyers bought them to flip or resell for a quick profit and they are not going up in value as anticipated. If I'm off base here please set me straight.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I do not think they will appreciate much... more likely to follow bullion, which, being a proof, will not provide much profit... unless, of course, bullion takes off on a wild ride. Cheers, RickO
  • CakesCakes Posts: 3,629 ✭✭✭✭✭
    There is nothing to lose on these in the long run. They are a nice design at a very low melt price and platinum will continue to rise.
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    It's an unfortunate abbreviation . I thought for a minute it it was a coin with king kong on it.
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    I'd like to see it when it arrives. Can you post pictures?

    My YouTube Channel

  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭
    Originally posted by: asheland

    I'd like to see it when it arrives. Can you post pictures?




    I'm keeping it sealed in the box until I'm sure that I'm going to keep it. There are good pics on the mint web site and many dealer web sites.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • silversirensilversiren Posts: 70 ✭✭✭
    Here are some pics of ours.
    image
    image
    imageimage
  • MsMorrisineMsMorrisine Posts: 33,088 ✭✭✭✭✭
    I'm not following the market, thus the question.
    I imagine a FS 70 will be plentiful and cheap, if lots were flipped to end collectors.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    I think that the chances of a profitable flip went out the window when they announced the 10,000 mintage and altered the design (slightly). At least it still looks acceptable.

    Mintage numbers had been dropping yearly since 2011 until this issue. The quick sellout seems to indicate quite an abundance of flippers, and lackluster pricing on the secondary market since the 56 minute sellout confirms an overall lack of serious demand.

    There aren't many collectors of the series, so it will be interesting to see how this coin fits into the pricing structure. The mintage is comparable to the 2010-W, which isn't that easy to find any more. Not rare, but not common either.

    I expect a high percentage of PR-70 First Strikes, but that's always a crapshoot with platinum. Even if I wasn't a Plat collector, I'd probably keep the coin if I bought one.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    I think in the show " Lancelot Link secret chimp " the name of the evil spy organization was APE.

    Actually the good guys were APE "Agency to prevent evil"

    It turns out the bad guys are CHUMP

    Lance of Arabia

  • VanHalenVanHalen Posts: 3,992 ✭✭✭✭✭
    Looking back over the last decade the $1350 release price of the '16s looks low and it's a sweet proof to hang onto regardless. Hold an ounce of platinum in your hand and feel the magic.
  • CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
    I bought one each of the six-part 2009-2014 Proof Platinum Eagle set. How are they doing in the aftermarket? I no longer have access to the Greysheets.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Originally posted by: bronco2078



    It's an unfortunate abbreviation . I thought for a minute it it was a coin with king kong on it.




    So much win. I cant stop laughing.
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    That's an excellent design! I'd just put it in the stash and move on to the next coin! image

    My YouTube Channel

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,293 ✭✭✭✭✭
    Three words : "Pretty Heavy Metal"
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