Costco selling gold and silver bullion

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pmbug

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I saw this report:

Costco starts selling GOLD worth up to £24,500 in its supermarkets

Many investors have been turning to what they see as the security of gold this year, amid huge uncertainties in the world economy caused by Covid-19.
www.dailymail.co.uk

I haven't seen any bullion for sale at my local store (here in the USA). I checked costco.com and don't see any listing or mention of gold bars for sale. Maybe it's just a UK/European thing for now?
 
Ive had a few people ask me about purchasing and storing silver and gold in recent weeks, so there does seem to be a growing awareness in the UK.

Curious that Costco are doing this as I would not have put them in a category of attracting wealthy customers ........
 
In my neck of the woods, Costco is a monster. Everyone has a Costco membership and shops there. They do periodically offer some high end merchandise like full body massage chairs for $5K or so. I'm not sure how many people are actually buying that stuff, but someone must because they keep rotating it in and out of the store. I do see people buying large flat screen TVs (~$2-4K) there frequently.
 

Costco says its 1-ounce gold bars are real and have been selling out in hours​

  • Costco has been selling one-ounce gold bars.
  • The retailer limits them to two per member but they typically sell out "within a few hours," its CFO said.
  • Rand Refinery gold bars cost $1,950 each, while PAMP Suisse bars cost $1,980.
Costco has been selling one-ounce gold bars that it says get snapped up in hours.

More:

 
From DM - lot of pics. May not want to open on phone.

Costco is experiencing rush on one ounce 'bargain' GOLD BARS

Costco has rolled out two gold bars for online customers to capitalize on a gold rush, with CFO Richard Galanti saying Tuesday the products are 'gone within a few hours' after they are on sale.
www.dailymail.co.uk

Edit:

CNBC

Costco is selling gold bars and they are selling out within a few hours

The retail warehousing giant is your one-stop shop for 1 ounce gold bars, handsomely detailed and ready for purchase.
www.cnbc.com
 
Last edited:
Costco charges sales tax in non tax states. Complete idiots buying that shit.
 
i just googled it ....seems they are available in the US .....i dont have a membership to log in and check pricing.....several articles posted about them selling out very fast online etc
 
Ttazzman said:
i just googled it ....seems they are available in the US .....i dont have a membership to log in and check pricing.....several articles posted about them selling out very fast online etc
Click to expand...

I went to costco.com yesterday and tried to find the Pamp Suisse gold bar and their search function refused to find it. I then found a direct link to it in one of the news reports and it was listed under sports equipment? Weird. Anyway, I don't know my log in info so I couldn't check the pricing or if they are charging a superfluous sales tax. It does state that there is a limit of 2 bars per account.
 
If that's the case then I can see why it is so successful. Because I think you can use a credit card for the purchase without penalty. Now I'm wondering if you get 2% back if you have the executive membership as well.
 
I'm not sure what all the fuss was about with Costco's 1 oz gold bars. They are completely sold out BTW. They were selling for $1,949.99.
Colorado Gold sells the same thing for $1898.03 (when buying 4 or more).
Am I missing something?
 
Carrion Crow said:
... Am I missing something?
Click to expand...

From the CNBC link above:
I think there is a bit of lag with news reports, so the announced prices have to be taken in context of what the spot price was at the time the Costco price was reported.
 

Costco sold $100 million in one-ounce gold bars in Q3

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com

 
Came across this while watching the SD Bullion Vault vid. As with anything I post, take it fwiw and dyodd. It's 33 mins long.

COSTCO SILVER : The Benefits and the Pitfalls​

Premiered 3 hours ago


Costco recently announced it has begun to sell SILVER bullion! We'll explore Costco's first choice: The American Silver Eagle, and discuss some of the positive attributes of buying these coins from Costco--and some of the potential pitfalls to watch for.

I mention the Costco GOLD video in this video. You'll find that video here: • COSTCO GOLD : The Benefits and the Pi...
 
I can't find any evidence that Costco has announced silver bullion sales and I don't see silver eagles offered on the costco website. Unsourced claims are frustrating.
 
Not available for delivery to my zip code. Explains why my search did not find it.
 
chieftain said:
Two per membership? That's a bit shit.
Click to expand...
100m sales is a lot ....but at 2k each and 2 units per membership that only implies possibly 25k purchasers .......imagine if they were to go unlimited on sales
 
pmbug said:
I can't find any evidence that Costco has announced silver bullion sales and I don't see silver eagles offered on the costco website. Unsourced claims are frustrating.
Click to expand...
The way bullion works on Costco is a listing is made for each batch and it hits them gets sold out in minutes. You have to be quick to get it. Because right now they are losing money by the time you get 2% back on membership and 2% back on credit card.
 
Apparently, Costco sells bullion in their physical stores in the UK and in Aurstralia. This pic is from the UK (prices are in pounds and include VAT on the silver):

 
They sell bullion in store here in 'straya??? I was there last week buying laundry powder and didn't see any.
 
chieftain said:
They sell bullion in store here in 'straya??? I was there last week buying laundry powder and didn't see any.
Click to expand...

That's what the folks on SilverStackers are telling me.
 

Those are rolls of 20. So you could get 40 coins at a time. Any member care to share what price they are selling them for?
 

Costco is now selling $625 packs of silver coins as well as $2,000 gold bars — and shoppers are snapping them up​

  • Costco is now selling packs of one-ounce silver coins, priced at $625 for 25 coins.
  • Its CFO said that sales of the coins and Costco's 24-karat gold bars had led its e-commerce growth.
  • But some shoppers said in online reviews that their coins were scratched when they arrived.
It's not just $2,000 gold bars you can buy from Costco — customers can now snap up $625 packs of silver coins, too, as the retailer expands its precious metals business.

The discount retailer recently started selling the coins for the first time, CFO Richard Galanti told CNN.

On Costco's website, you can snap up a 25-count pack of 2024 Canada Maple Leaf silver coins. Each coin weighs one troy ounce and is made of 99.99% pure silver, Costco says.

The coins, from the Royal Canadian Mint, have an image of King Charles III on one side and a maple leaf on the other. They have a face value of 5 Canadian dollars each.

More:

 
It would be nicer if they carried these items in their warehouse stores so they could be purchased in person.
 
Costco & Walmart make it easy to purchase. Some even make payments.
 
Sal's take..........

The Costco Silver Craze Is ON! Now Selling MORE Silver!​

Mar 9, 2024
11:03
 
Emphasis is mine:

That seems like a lot. I'm still waiting to see any bullion grace the jewelry display in my local Costco.
 
That is around 100,000 ounces per month give or take. There is hope for the business class hedging their profits.

I lost faith in paper awhile ago.

They should be selling 10 oz silver + kilo bars too.
 
Costco is convenient. Coin shops are few and far between.
 

Costco shoppers are finding it's harder to sell gold than to buy it​

  • Costco sells millions of dollars of gold bars a month.
  • While the bars get snapped up quickly, shoppers are learning that buying is easier than reselling.
  • Trading commodities, as it turns out, is full of complications.
Whenever Costco releases a batch of gold bars for sale, the supply sells out "within a few hours" as shoppers snap up the precious metal for a small markup over its spot price.

More:

 
That was a garbage article. It's super easy to find a buyer and sell gold. Any locale large enough to have a Costco is going to have a coin shop or two. Not to mention eBay or forum communities such as this one.
 
Agreed. I sold some gold through GIM2 and struck out with silver here, but any time there is a seller and buyer, it will happen.
 
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