Costco selling gold and silver bullion

Head-fake, maybe?

Get lots of constant web traffic.

Sorry.

They sell gold as fast as they can stock their warehouses apparently.

Costco should buy Scottsdale Mint.

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.

Cheap gold 2% over spot...

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.

nickndfl said:

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.

Click to expand...

That's basically what BullionStar is doing with their vaulting service isn't it?

nickndfl said:

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.

Click to expand...

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.

Unca Walt said:

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.

Click to expand...

Mainstreaming the IDEA of buying gold.

That's obvious - and to my shame, I never thought of it that way.

Damn - that was a great price:

There It Is ^^^^^^^^^^^^^^^^^^^^^^^^^