COSTCO IS SELLING GOLD BARS...AND THEY'RE SELLING FAST. IS GOLD A WORTHY INVESTMENT?

[RUDY RAYYY MO]

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.

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

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

PUBLISHED WED, SEP 27 20233:19 PM EDTUPDATED WED, SEP 27 20235:38 PM EDT

Jeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOM
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KEY POINTS

• Costco is selling 1 ounce gold PAMP Suisse Lady Fortuna Veriscan bars.
• Costco Chief Financial Officer Richard Galanti said the bars are in hot demand and don’t last long when in stock.
• Gold has risen more than 15% over the past year and more than 55% over the past five years.

In this article

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Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars.
Wait, gold bars?

Yes, the retail warehousing giant is your one-stop shop for 1 ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase.

ADVERTISING

They’re available for the bargain price of … well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold most recently was going for $1,876.56 an ounce as of Wednesday afternoon.
Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from Costco Chief Financial Officer Richard Galanti. Speaking on the company’s quarterly earnings call, Galanti said the bars are in hot demand and don’t last long when in stock.
“I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” he said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.”

 

[RUDY RAYYY MO]

Bump

 

[dbluesun]

so if you buy gold where do you exchange it once the value goes up

 

[RoomService]

no

 

[Database Error]

Jeff cox just bought alot of gold stock and is trying to run the price up.

 

[Mixd]

so if you buy gold where do you exchange it once the value goes up

Can sell it back to a gold buyer, like a retail store, they take a cut but they send it to an assay and melt it to check the content.
Or can just sell it any jeweler or locally. Many people buy/sell gold. And Silver as well.

Costco members getting 2% back on these also and basically paying for their membership buying these up.
Gold prices are set to shoot up especially with the USD losing it's worth globally. No one internationally wants to trade or settle debt in US dollars.

 

[RUDY RAYYY MO]

Can sell it back to a gold buyer, like a retail store, they take a cut but they send it to an assay and melt it to check the content.
Or can just sell it any jeweler or locally. Many people buy/sell gold. And Silver as well.

Costco members getting 2% back on these also and basically paying for their membership buying these up.
Gold prices are set to shoot up especially with the USD losing it's worth globally. No one internationally wants to trade or settle debt in US dollars.

Interesting. A couple racks is a considerable amount huh

 

[Dr. Truth]

Can sell it back to a gold buyer, like a retail store, they take a cut but they send it to an assay and melt it to check the content.
Or can just sell it any jeweler or locally. Many people buy/sell gold. And Silver as well.

Costco members getting 2% back on these also and basically paying for their membership buying these up.
Gold prices are set to shoot up especially with the USD losing it's worth globally. No one internationally wants to trade or settle debt in US dollars.

You’ll get jacked on the price at those spots

 

[Mixd]

You’ll get jacked on the price at those spots

Agreed, but in my scenario, years ago, had a piece of jewelry, was 6oz of 18k gold. Bought at $300 and at the time needed bread and gold prices were at $1600 an ounce when I sold. The place told me what they would pay under spot prices and I was OK with it.

Buying gold, (or silver), if you're buying it and using it to hedge against this economy, my guess is it will be very lucrative and continue to go up. Precious metals, when this dollar and markets fail, metals will go up and be in heavy demand.

Buying it today at $1900 an ounce who knows what gold will go up to if things fail, could be $5-10k.
We are going to a gold(asset) backed financial system. All currencies will be asset backed in the very near future.

Partly why people are buying it up, no?

 

[Tdot_firestarta]

I got a costco membership but I don't know if i'm gonna be buying gold bars from my supermarket

 

[Bawse Nigguh]

I got a costco membership but I don't know if i'm gonna be buying gold bars from my supermarket

And that’s what makes it so smart… the last place you would expect

 

[Aww Skeet Skeet!]

Nah, I'm good on this.

 

[World B Free]

I bet they got the gold from Africa.....

 

[blackbull1970]

When SHTF and there is an economic collapse.

Nobody gives two Fucks about Gold.

Folks want shit that is worth something like….

• Pampers
• Food
• Clean Drinking Water
• Toilet Paper
• Gasoline
• Tampons
• Batteries

When SHTF, the list above and other things are worth more than the price of a Fuckin’ Gold Bar.

 

[doe moe]

 

[killagram]

When SHTF and there is an economic collapse.

Nobody gives two Fucks about Gold.

Folks want shit that is worth something like….

• Pampers
• Food
• Clean Drinking Water
• Toilet Paper
• Gasoline
• Tampons
• Batteries

When SHTF, the list above and other things are worth more than the price of a Fuckin’ Gold Bar.

I'm skilled up...ready to barter...brah

 

[gene cisco]

When SHTF and there is an economic collapse.

Nobody gives two Fucks about Gold.

Folks want shit that is worth something like….

• Pampers
• Food
• Clean Drinking Water
• Toilet Paper
• Gasoline
• Tampons
• Batteries

When SHTF, the list above and other things are worth more than the price of a Fuckin’ Gold Bar.

Yeah, all that is true, but as you know, shit don't hit the fan everywhere at once. All the shit will help a person survive in a fucked up area, but won't really help them get out before shit goes bad. People with gold can trade it any fucking where that is still good. We have seen it time and time again. People flee areas where their currency went to shit. The ones with gold, silver, paintings, art, or whatever assets are able to gtfo.

This is why people like Bitcoin while dummies clown. Shit hits the fan, folks can flee with numbers in their head and cash out elsewhere. Shit is even easier to move than gold. But hell, shit don't even have to hit the fan for people to want complete control over value. It's just smart to diversify.

As for gold, people want custody of the real shit, not a piece of fucking paper(be surprised how many just got pieces of paper). Big boys got busted selling more paper than gold. Fuck an IOU.