The Headache at the End of the Costco Gold Rush

[yankees60]

The Headache at the End of the Costco Gold Rush


https://archive.ph/2024.04.23-220206/ht ... .0-2263.47

[seajay]

The Headache at the End of the Costco Gold Rush


https://archive.ph/2024.04.23-220206/ht ... .0-2263.47

Buying at spot+2.5%, selling at spot-1%, 3.5% spread I'd say is a pretty typical average, but does involve hunting around as some will widen spreads out to 8% or maybe even more. Bought/sold privately and the spread may be 0%, just the postage/insurance costs.

The article just highlights the common unfamiliarity with the product/setup.

[yankees60]

https://money.com/how-to-sell-gold-cost ... aily_money

Buyer Beware: Costco Gold Is Easier to Purchase Than Sell
By: Jordan Chussler
Editor: Brad Tuttle
Published: May 07, 20248 min read

[pmbug]

Those articles are silly IMO. Any area big enough to support a Costco warehouse surely has a coin shop or two in the vicinity. It's trivially easy to sell bullion at a coin shop in person or to a national dealer via the mail. It's a bit more work, but it's also not difficult to sell P2P via craigslist, ebay or gold/silver/coin discussion forums. There is a very liquid market for physical bullion.

[yankees60]

Those articles are silly IMO. Any area big enough to support a Costco warehouse surely has a coin shop or two in the vicinity. It's trivially easy to sell bullion at a coin shop in person or to a national dealer via the mail. It's a bit more work, but it's also not difficult to sell P2P via craigslist, ebay or gold/silver/coin discussion forums. There is a very liquid market for physical bullion.

How would you rate the average Costco shopper's knowledge regarding this? I'd say you are far more advanced than the average one of them.

[pmbug]

How would you rate the average Costco shopper's knowledge regarding this? I'd say you are far more advanced than the average one of them.

Hard to say. If folks are savvy enough to snap up $400+ tubes of silver or $2000+ gold bars when they see them, I'd assume they might know something about gold or silver. But even if they were ignorant of the dynamics of the physical precious metals market, their ignorance doesn't mean that it's actually difficult to sell. It just means they need to spend a few minutes educating themselves.

[yankees60]

How would you rate the average Costco shopper's knowledge regarding this? I'd say you are far more advanced than the average one of them.

Hard to say. If folks are savvy enough to snap up $400+ tubes of silver or $2000+ gold bars when they see them, I'd assume they might know something about gold or silver. But even if they were ignorant of the dynamics of the physical precious metals market, their ignorance doesn't mean that it's actually difficult to sell. It just means they need to spend a few minutes educating themselves.

Wouldn't you think these might be the same type people who buy gold from those TV ads? Or, not that far removed? I think you have way too high expectations of them.