Head-fake, maybe?
Get lots of constant web traffic.
Get lots of constant web traffic.
Costco selling gold and silver bullion
- Thread starter pmbug
- Start date
Welcome to the Precious Metals Bug Forums
Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
Viking
Yellow Jacket
Sorry.
- Messages
- 1,568
- Reaction score
- 2,200
- Points
- 298
I think what we are noticing here, guys, is "ordinary" people suddenly seeing gold in a venue** they never have and never would have seen.
** Supermarket floor
None of us here would bother to leap at buying for the same numbers as our local LCD's offer. But CostCo has customer folks who see the display as something surprising, new, pleasing, and an easy transaction. The customer walks out with his gold in hand. He does NOT get a genuine receipt from somebody's super-safe vault swearing his gold is inside for true and real, no lie, honest.
Bingo. In hand. Sold out in minutes in the real world.
Sumbody sold a brilliant idea to CostCo manglement. Competitors of CostCo, will notice the consistent sell-outs of gold in minutes. Duh.
YOU SAW IT HERE FIRST:
Unca's Observation/Prediction -- This is the beginning of a tsunami of gold buying by the otherwise "out of the loop" population. Even the dullest can see the open-ended inflation of the USD. And when the general public begins to buy gold -- spurred on because gold will be available in places commonly visited by them -- what will happen to the price?
Wall Street is already trading tons of fantasy gold per hour to keep the lid on the pressure cooker, and a rise in demand is going to strain that lid.
** Supermarket floor
None of us here would bother to leap at buying for the same numbers as our local LCD's offer. But CostCo has customer folks who see the display as something surprising, new, pleasing, and an easy transaction. The customer walks out with his gold in hand. He does NOT get a genuine receipt from somebody's super-safe vault swearing his gold is inside for true and real, no lie, honest.
Bingo. In hand. Sold out in minutes in the real world.
Sumbody sold a brilliant idea to CostCo manglement. Competitors of CostCo, will notice the consistent sell-outs of gold in minutes. Duh.
YOU SAW IT HERE FIRST:
Unca's Observation/Prediction -- This is the beginning of a tsunami of gold buying by the otherwise "out of the loop" population. Even the dullest can see the open-ended inflation of the USD. And when the general public begins to buy gold -- spurred on because gold will be available in places commonly visited by them -- what will happen to the price?
Wall Street is already trading tons of fantasy gold per hour to keep the lid on the pressure cooker, and a rise in demand is going to strain that lid.
Last edited:
The other untapped venue would be to start a bullion bank in the USA where you can buy and store fractional amounts easily. Use all cash or crypto currency, but that service generally runs into admin costs.
That's basically what BullionStar is doing with their vaulting service isn't it?
Review: Bullionstar.us
Website (Singapore): https://www.bullionstar.com/
Website (Dallas): https://www.bullionstar.us/
Locations: Dallas, TX, USA and Singapore, Malaysia
Shipping (USA): $8 orders less than $98, free shipping orders more than $98. All orders insured.
Payment Options: credit card/bank transfer/bitcoin/bitcoin cash/ethereum/litecoin
~~~
They have opened shop for US customers and even have a vaulting service using the Texas repository...
- Messages
- 136
- Reaction score
- 130
- Points
- 148
Hasn't this been done before and sometimes with disastrous consequences to the PM owners? I think most of us here subscribe to the "if you don't hold it, you don't own it" mantra. I personally would never touch a service like this.
Mainstreaming the IDEA of buying gold.
That's obvious - and to my shame, I never thought of it that way.
I popped in to my local Costco today to grab a couple items (bad mistake - Sunday near noon time is the absolute worst time to go shopping at my Costco - it's packed to the gills with shoppers). I glanced at the jewelry display case and saw that they had a 10oz silver bar for $349. I didn't see what brand - I had to move on because I was in a hurry, but that wasn't a bad price and had I not been in a hurry, I might have been tempted...
Poor saps.
I bought most of my silver at around $23.
I bought most of my silver at around $23.
Viking
Yellow Jacket
Nice buying from Costco is you get 2% back and free shipping.
True but the 10z silver bar I mention was for local sale (no shipping). The don't charge extra for credit card purchases either.
Are you in a sales tax state, if not, that would be a screaming deal...
