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Menendez special?!.....Costco selling gold bars......
Posted by: NewtonMP2100
Date: September 27, 2023 05:04PM
.....sold out.....in a few hours....


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

....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.

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."

A couple of important points from that thought: The bars indeed are only available online, and only if you're a Costco member, which costs either $120 or $60 a year, depending on which program you pick. The retailer also is limiting the purchases to two to a customer, meaning it would be pretty hard to build a position that would lead to financial security.

At the very least, though, it's an effective promotion and one that could appeal to a certain sector of Costco's shopping clientele, said Jonathan Rose, co-founder of Genesis Gold Group.

Rose noted that the company seems to have accelerated its offerings of dried foods and other survivalist goods at a time when worries about the future are running high. For example, the company markets a 150-serving emergency food preparedness kit that could come in handy, you know, just in case. Gold meshes with that type of product.

"They've done their market research. I think it's a very clever way to get their name in the news and have some great publicity," he said. "There is definitely a crossover of people living off the land, being self-sufficient, believing in your own currency. That's the appeal to gold as a safe haven as people lose faith in the U.S. dollar."......



..........bulk.......bargain........?!



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Re: Menendez special?!.....Costco selling gold bars......
Posted by: Grateful11
Date: September 27, 2023 05:17PM
That's nothing:
"The People’s Bank of China (PBoC) has been buying gold at a torrid pace. According to updated foreign reserve data, China’s central bank bought 29 tonnes of gold in August, lifting year-to-date purchases to 155 tonnes. Last month's data was also the central bank's biggest purchase since December."

[www.kitco.com]



Grateful11
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: GGD
Date: September 27, 2023 05:24PM
Quote
NewtonMP2100
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.

If you pay with a Costco Visa (2% back) and are an executive member (2% back), that's $76 cash back on the $1900 purchase putting it below the spot gold price.

I wonder if you can return it for a full refund if the price of gold drops.



Edited 1 time(s). Last edit at 09/27/2023 05:26PM by GGD.
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: vision63
Date: September 27, 2023 05:24PM
Costco does have that crazy jewelry case.
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: mikebw
Date: September 27, 2023 05:25PM
Only 1oz? That's gotta be the smallest item you can buy at a Costco!
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: Numo
Date: September 27, 2023 05:29PM
I think I’ll stick with the golden chicken for now. :-)
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: gabester
Date: September 27, 2023 05:38PM
Just wait until I bring that pure gold asteroid into orbit and make it nearly worthless!



g=
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: Gareth
Date: September 27, 2023 05:44PM
Quote
GGD
If you pay with a Costco Visa (2% back) and are an executive member (2% back), that's $76 cash back on the $1900 purchase putting it below the spot gold price.

I wonder if you can return it for a full refund if the price of gold drops.

Current price is $1980, although out of stock (weirdly says it can be bought at my local Costco for a potentially lower price, despite what the article says). Maybe when it's in-stock, they lower the price.

[www.costco.com]

Quote
Costco.com
Item is non-refundable.
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: Steve G.
Date: September 27, 2023 05:55PM
I put all my Costco money into croissants.
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Re: Menendez special?!.....Costco selling gold bars......
Posted by: RAMd®d
Date: September 27, 2023 06:15PM
I put all my money into crypto to earn enough to reinvest it in gold-pressed latinum.






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Re: Menendez special?!.....Costco selling gold bars......
Posted by: rgG
Date: September 27, 2023 06:50PM
Can you pay for it with NFTs? wiggle smiley





Roswell, GA (Atlanta suburb)
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