Are the platinum APE's finallygoing to get some respect?
batumi
Posts: 906 ✭✭✭✭
I see platinum has had a sharp run up as of late to justsouth of $1600. With supply disruptions, tarrifs, sanctions I believe the price ofthe metal will at least hold for the near future and likely rise. I have been seeing higher prices online for the APE coins which imo are among the most attractive-the older pre 2018- modern issues from the USM.With the ever escalating price of gold, I have diversifies and bought a few of these the past couple of years. I could cash in and likelycome out with a decent profit, though I plan on holding for the near term. Any opinions out there are welcomed. Thanks in advance.
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Platinum has been in a supply deficit and is playing "catch up" to gold. Big moves in platinum don't happen very often but I think that we are seeing a rare re-adjustment to new price levels that will stick.
I knew it would happen.
I'm not sure how a rise in intrinsic value constitutes "getting respect".
All comments reflect the opinion of the author, even when irrefutably accurate.
Possibly he means an increased interest in the series?
That's my interpretation whenever I hear terms like "respected" or more commonly, "appreciated".
My answer is no, because higher spot prices alone don't make any coin more interesting to enough buyers who want it as a collectible. There is another active thread on gold premiums for US classic generic gold, and this coinage is certainly (a lot) more interesting as a collectible to most hobbyist collectors than most or all NCLT.
I also see the NCLT market for gold, platinum, and palladium NCLT as having very limited overlap with those collecting other US coinage. I infer those buying other (mostly) US coinage in a similar price range do so ad-hoc, as a secondary sideline interest, or as "investment", but it's not the focus of their collecting.
I always thought that the platinum eagles always had a too high of a premium, even when platinum was around $900, the 1/10 ounce coins were selling for about $200, that’s a pretty high premium (100%+) that I only have 1 coin.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
I agree with the catch up stuff on price and it adjust if things cool, just an observation I think
The value tended to be in the 1/4 and 1/2 Oz sizes that could be found in auctions for a small premium to melt. The 1/10 is more accessible and in some ways that drives more demand (thus higher premiums).
In general these higher prices have made much of the platinum coins trade close to melt. A local coin store was paying over melt when it was 1,200-1,300 per Oz and has now come down to under melt. At the GACC show there were dealers paying under and one that paid spot and a small premium for proof fractionals.
Also, platinum has been higher in the last 15 years so there are still plenty that are underwater (which can sour one on collecting).
I like the proof Eagle series as it was the first to have different designs each year (unlike gold or silver) so that makes it more interesting to collect. And there have been some solid designs over the years.
I just wish the mint would introduce the same level of design that the American Liberty and other coin series have. It seems like platinum is rarely chosen as the metal for commemoratives, re-issues etc.
As the price of platinum rises, the value of most of the coins will follow, being the high mintage ones that trade at spot. The lower mintage coins should hold the price they had earlier if it was inflated to the spot price of the metal. So most will not be getting respect, and only the low mintage should in theory.
Until the mint stops making these platinum and palladium coins, the keys will be at the whims of the metal markets since any year they can create a lowest mintage coin that hurts the ones that are already considered key dates.
A traditionally low mintage year, 2004, has seen it's premium pretty much erased (from what I see among recent auction results). the current 1 oz proof key date, the 2015, appears to be selling at around the same levels it was before the recent price increases.
As far as key dates, the 1 oz could see a new low (although it has not happened since 2015 as of yet). The fractional sizes seem more safe since the US Mint has not made any at all since 2008.
I have fun with platinum and Palladium Eagles, I just don’t take it that seriously. I believe I even have a Platinum and or Palladium Panda.
Gold remains my main stay. My more serious metal squeeze.
The Mint does get the greatest level of respect as far as where I’m gonna purchase those metals from.
Maple leafs are fine and so are the ballerinas , but I would also feel fine about selling those near the previous top.
The OP poses a good question.
I always liked the Platinum Eagles. But I gave up a long time ago on their being widely collected
All comments reflect the opinion of the author, even when irrefutably accurate.
Made the case for collecting the proof platinum Eagle series with different reverse designs each year. The fractionals are particularly interesting because they have a beginning and an end.