Costco selling gold and silver bullion

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"The Costco Gold & subsequent media boom has already punched above its raw (fundamental) weight in influencing opinion; it alone is putting Gold as an asset class back on the map for new (that's the key word here) retail investors," she said. "Game-changing market moments come'n go. Some are just well-timed, coincidentally, or not. GLD was developed a couple of years after 9/11 and at the start of zero interest rates, easily creating a bigger path for investors to access the metal. Costco has done more for sentiment and opening new channels when trust has completely broken down post-COVID."
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Shiels also noted that a new consumer demographic is also driving gold demand as Millennials, worried about their future, are attracted to traditional safe-haven assets.

"'The peoples' confidence in the U.S.' ability to destroy itself over time is at an all-time high, and they are seeking a more traditional escape (in assets like Gold) via traditional outlets (in outlets like Costco)," she said.

Shiels also noted that Costco's robust gold sales have defied a few interesting trends in the physical marketplace. Retailers are buying gold as prices trade near record highs. Historically, higher gold prices have weighed on physical demand.

However, this historical trend is seen in more traditional bullion vehicles.

"While consumers are snapping up bars at Costco, subdued coin premiums and Mint sales estimates (US Mint Gold coin sales down were 25% in Q1'24; Perth Mint Gold sales hit its lowest in 5 years in March 2024) indicate aggregate retail demand in the US & Western Europe is subdued," Sheils said.

Although this new Costco phenomenon is attracting mainstream media attention, Shiels said that she sees it as a part of a much larger physical landscape. She noted that Western consumers are only following the trend set by Asian consumers.
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Unless the entrepreneurial class that mostly shops at Costco is a new group of stackers, the hype will fade. Some of the buyers were looking to flip their bars according to Salivate Metal, but some were upside down with premiums and sales taxes.
 
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In this vid Sal talks a little about the reality of commodity trading, credit card points and more.

The Secret Behind The Huge Costco Gold Sales! Rude Awakening!​

Apr 29, 2024


11:24
 
Idiocracy-Costco.gif
 
I was at my local Costco the other day and asked a manager if they were going to carry gold or silver in the store. He said no - it was just for online and they wouldn't be carrying it in any store in the greater Houston area. That surprised me given the reports I see online of people finding it in stores at other locations. I'm guessing the purchasing manager for the Houston area might be a bit ignorant of precious metal demand and Houston area wealth.
 
Nothing special in this one. Just Sal's take on things. 11 mins, 14 secs.

Costco's Gold Bar & Silver Motive Revealed! The Cheat Code!​

Jun 4, 2024 #silver #gold #preciousmetals

 
Did some shopping at my local Costco this morning. Surprise! They had 1toz gold Buffalos for sale (limit 5 per customer) for $2,399.99. They also had a 10toz silver bar for $329.99. The Buffalos were calling me like the one ring torturing Gollum. :ROFLMAO:
 
Did you buy the limit? Can't take it with you.
 
Went by my local Costco this morning and the Buffalos were $2,359 today. The silver bars were still $329. Awesome price for the gold Buffalos.
 
Costco should increase their purchasing of PMs because they can always unload it on the Shanghai Exchange.
 
pmbug said:
I was at my local Costco the other day and asked a manager if they were going to carry gold or silver in the store. He said no - it was just for online and they wouldn't be carrying it in any store in the greater Houston area. That surprised me given the reports I see online of people finding it in stores at other locations. I'm guessing the purchasing manager for the Houston area might be a bit ignorant of precious metal demand and Houston area wealth.
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Or, he recognizes the relative safety of the Houston area, and potential store-security problems.





On a podcast somewhere, some wag - who might be a PM vendor or be sponsored by one, I don't remember - he remarked, Costco is selling gold bars...but isn't buying any of them back.

I'm three miles from a Costco. And two miles from my family-run PM dealer - who sells at a fair price, and has bought from me a considerable number of coins, back six years ago when I was in dire straits. Not only will he buy, he's contracted with a local (regional) bank to cash checks issued by his business, to anyone they're made out to. If I sell four K-rands to him for $9600, the bank will cash that check. Not require it be deposited or exchange it for a Cashier's Check - give the bearer cash, once he gives proof of identity.

Not the kind of service you get with Costco.
 
Costco is Costco. They aren't a LCS. They sell stuff in volume at good prices.
 

Costco had 100-gram gold bars for $7,600. They sold out in less than a day.​

  • Costco's largest gold product is a 100-gram bar from PAMP Suisse that last sold for $7,599.99.
  • The jumbo-sized bar was briefly available this week, but sold out in less than a day.
  • The quick sellout shows just how strong demand still is for Costco's precious metals business.
Costco has been selling gold and silver at a rate of $200 million per month, per analyst estimates, and it's showing no signs of slowing down.

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Here's Sal.....................

 

THIS Gold came from Costco in July! Why is it UNDER Spot?​


11:53
 
Flipping PMs for fun & profit

Man Makes $500 A Week Buying Costco Gold & Silver!​

Aug 3, 2024 #silver #gold #preciousmetals


11:23
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For those who prefer to read...........

Business Insider

A Costco gold collector has bought more than $100,000 of coins this year — mostly for flipping​

  • Costco sells an estimated $200 million worth of gold and silver coins and bars a month.
  • One Costco coin flipper says he can make up to $500 per week.
  • However, short-term trading is a highly risky activity with the potential for significant financial losses.
The frenzy around Costco's selling of precious metals is creating a kind of arbitrage opportunity for some gold enthusiasts — though it's not without the risks that come with short-term trading and skirting the company's rules.

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Thy need to sell .999 bullion bangles and chains.

Small business owners are hedging our currency and the stock market. Even if gold prices fall you still can hold something in your hand to reduce the pain unlike red ink on Wall St.
 
I am astounded that this has remained A Thing. I mean, seriously: Why would you go to your China-Junk retailer...even if a very good retailer like Costco - for something that's just not their bailiwick? Courses for horses. I go to Wally World for crappy window fans - not fresh meat. I go to Carvana to buy a used car - not toilet paper.

And my PM dealer isn't going to have a new suit to sell, or a used car - even though there's probably plenty of people who'd want to trade.

IF Costco wants to continue this...it would probably be worth their while to set up an agreement with a bullion dealer with a large footprint. Like Kitco - yeah, I know, they're a dirty word, now; but you get the idea. I don't know who the big names are, but if a Costco buyer could go to a JM Bullion store-within-the-website, or even have a real-life person at a counter within - like contract jewelers used to do at Walmart - if they had that, they'd have more confidence, get the same web hits and foot traffic, and even some customers could walk out of the store with gold in their hands.

If they did that, though, it would behoove them to up their parking-lot security...
 

You can now buy a $1,089 platinum bar from Costco—here’s what to know before investing​

Shoppers love Costco for the affordable gas, bulk-priced consumer staples and unwavering commitment to charging $1.50 for a hot dog and a soda.

Recently, though, they’ve found something new to love about the wholesaler: precious metals.

Costco began selling physical gold last year, and demand has been so hot that Wells Fargo analysts expect sales to now be in the neighborhood of $100 million to $200 million a month.

And earlier this month, the big box store began selling platinum on its website. A 1-oz. bar of the metal will run you $1,089, a small premium over platinum’s spot price, which recently hovered around $1,000 an ounce. You can only buy the bars on the company’s website, and you’ll need a membership, which costs between $65 and $130 a year.

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I was buying random 1 oz. platinum coins between $940-$989. If I wanted a USA eagle it was $1050-$1089. I also bought 1/10 random coins for $115-$129. I don't like bars in gold or platinum, only silver.

I stopped buying.platinum when I reached a limit recently.
 
nickndfl said:
I was buying random 1 oz. platinum coins between $940-$989. If I wanted a USA eagle it was $1050-$1089. I also bought 1/10 random coins for $115-$129. I don't like bars in gold or platinum, only silver.

I stopped buying.platinum when I reached a limit recently.
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a couple of days ago i was doing some fileing .....looked at my PMs bought reciepts ...happened upon some from 2005 ...was buying 1/10 lunars at 40-50$ each .....just something that caught my eye in the stack of papers....kinda forget those days.......im still trying to add a little bit of PT/Ag just hard to find deals these days
 
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