Costco Says It’s Sold Over $100 Million in Gold Bars
- Thread starter ajacobson
- Start date
Sheep
There many ways to effectively buy Gold in the financial markets. ETFs, Commodity markets, etc. -- with no need to hold the physical metal.
There is no reason to purchase and hold physical gold unless you think the entire world economic and national government infrastructure will collapse. At which point people will find out their gold is also worthless because the people wandering the streets with guns will be looking for food, medicine, clean water and fuel.
There is no reason to purchase and hold physical gold unless you think the entire world economic and national government infrastructure will collapse. At which point people will find out their gold is also worthless because the people wandering the streets with guns will be looking for food, medicine, clean water and fuel.
Haha oh yeah like Wal-Mart or Costco will close up shop (like some piker retailer) and leave town.
%%
Better than bank interest, for gold miners ;
haven't done study on the metal v bank interest.
I found a wallet past 52 weeks;
some Federal Reserve notes useless because of rot...........................
SPY benchmark has beaten gold so badly for so many years\to each his or her own LOL
No, because they (big guys) can disavow the sales if fake, accusing you switched packages etc.
Well they are PAMP Suisse 1oz like my avatar. I am surprised by that amount of demand, like 50,000 bars. Unless the spread was so tight vs spot that dealers started just buying from costco. 50% of the population also lives paycheck to paycheck so certainly they are not making spur of the moment physical $2k gold purchases.
It is fun to have a bar of metal as a conversation piece or for the novelty. Compared to paying zero commission on etfs though the whole idea gets stupid really fast. Many physical dealers will charge a 5-10% spread vs spot on both sides of the transaction.
It is fun to have a bar of metal as a conversation piece or for the novelty. Compared to paying zero commission on etfs though the whole idea gets stupid really fast. Many physical dealers will charge a 5-10% spread vs spot on both sides of the transaction.
haha.Point me to one example of them doing that. Just one.
Big box stores bend over backwards, even for pill heads, redeeming anything brought to their return counters. What world are you living in?
You Can Buy Gold Bars at Costco. But Are They Worth It?
The retailer says that its periodic offers sell out quickly. And some say it’s a pretty good deal, all things considered.
By
Debbie Carlson
Jan. 5, 2024 5:30 am ET
221
Costco’s online gold sales are popular with fans of the bulk-goods retailer and enthusiasts of the yellow metal. PHOTO: BING GUAN/BLOOMBERG NEWS
Ron Williams,a retired Air Force production superintendent in Utah, usually buys gold investment coins and bars from his precious-metals dealer. But when he found 1-ounce gold bars available on Costco Wholesale’s website recently, he decided to give them a shot.
“They seem pretty competitive with other bullion dealers,” says the 62-year-old Williams. “And the shipping is free.”
While he doesn’t expect to routinely buy gold bars at the big-box retailer, Williams is now among a vocal number of Costco fanatics and gold buyers who have flocked to the retailer’s website over the past year when it periodically puts up limited quantities of gold bars for sale.
Members of Facebook groups and Reddit message boards dedicated to Costco and gold post alerts when the gold bars are available. Those who miss out on the fast-moving items often grumble, while those who made purchases often report their success, sometimes including pictures and prices paid.
Costco declined to comment about its gold-bullion product. In earnings calls during 2023, finance chief Richard Galanti acknowledged the popularity of the gold bars, saying that when the retailer loads them on the site they are typically sold within a few hours. Even with a limit of two per member, Galanti said in Costco’s fiscal first-quarter earnings call Dec. 14 that the company sold over $100 million in gold during the quarter.
Some buyers of Costco gold are bargain hunting, and others are likely buying gold for the first time. Yet the same types of gold bars the retailer sells are available elsewhere at similar prices, and investors can trade gold-backed exchange-traded funds without worries about theft or storing physical gold. So why buy from Costco—or other general retailers like
Walmart
—instead of a traditional gold seller, and is it a good deal?
Reaping rewards
While gold dealers might sell a variety of gold products—both coins and bullion bars—when Costco’s website opens gold sales often it is only in 1-ounce minted bullion bars, usually one of two types of bars from Swiss-based refiner MKS PAMP or one type from South Africa’s Rand Refinery. Costco also has sold gold in other amounts and recently offered silver coins.
The retailer says that its periodic offers sell out quickly. And some say it’s a pretty good deal, all things considered.
By
Debbie Carlson
Jan. 5, 2024 5:30 am ET
221
Costco’s online gold sales are popular with fans of the bulk-goods retailer and enthusiasts of the yellow metal. PHOTO: BING GUAN/BLOOMBERG NEWS
Ron Williams,a retired Air Force production superintendent in Utah, usually buys gold investment coins and bars from his precious-metals dealer. But when he found 1-ounce gold bars available on Costco Wholesale’s website recently, he decided to give them a shot.
“They seem pretty competitive with other bullion dealers,” says the 62-year-old Williams. “And the shipping is free.”
While he doesn’t expect to routinely buy gold bars at the big-box retailer, Williams is now among a vocal number of Costco fanatics and gold buyers who have flocked to the retailer’s website over the past year when it periodically puts up limited quantities of gold bars for sale.
Members of Facebook groups and Reddit message boards dedicated to Costco and gold post alerts when the gold bars are available. Those who miss out on the fast-moving items often grumble, while those who made purchases often report their success, sometimes including pictures and prices paid.
Costco declined to comment about its gold-bullion product. In earnings calls during 2023, finance chief Richard Galanti acknowledged the popularity of the gold bars, saying that when the retailer loads them on the site they are typically sold within a few hours. Even with a limit of two per member, Galanti said in Costco’s fiscal first-quarter earnings call Dec. 14 that the company sold over $100 million in gold during the quarter.
Some buyers of Costco gold are bargain hunting, and others are likely buying gold for the first time. Yet the same types of gold bars the retailer sells are available elsewhere at similar prices, and investors can trade gold-backed exchange-traded funds without worries about theft or storing physical gold. So why buy from Costco—or other general retailers like
Walmart
—instead of a traditional gold seller, and is it a good deal?
Reaping rewards
While gold dealers might sell a variety of gold products—both coins and bullion bars—when Costco’s website opens gold sales often it is only in 1-ounce minted bullion bars, usually one of two types of bars from Swiss-based refiner MKS PAMP or one type from South Africa’s Rand Refinery. Costco also has sold gold in other amounts and recently offered silver coins.
Point me to one example of them doing that. Just one.
Big box stores bend over backwards, even for pill heads, redeeming anything brought to their return counters. What world are you living in?
i buy golds from a chinatown dealer, a good gent, if pay cash, no tax. they use tael instead of oz.
anyway i only buy physical gold when i have excess cash, and spot gold at a lower monthly bollinger band, no gc contracts for me.