Thx for posting. It’s interesting for sure and likely great for the gold market long term.
But the article fails to mention the biggest flaw. Costco not going to buy back the bought gold if you need or want to sell. Buying from a local shop, or IMO, a first rate online dealer means you have a ready made avenue if you decide to sell.
I never plan on selling. But plans can change. If I’m selling back to the dealer from whom I purchased, I’m going to get a better price and faster cash in hand. Even more true if it’s vaulted with the selling dealer. Anything ‘saved’ on the front end by buying from Costco is likely to be lost on the back end.
No guarantee that an LCS will buy back in a time of need. I think sellers will be shocked by the discounts they will have to take.
Buy overall, if someone wants to be serious about stacking, a good rapport and relationship with an LCS or online dealer is needed to fully understand premiums to buy, and discounts to sell.
Confirmed with my LCS in Naperville Illinois, they do get people selling their Costco gold as a means to a quick buck.
Roach motel?
When your cab driver is boasting the virtues of buying gold at Costco it’s probably time to sell 🥴
One word on, why Costco: Trust.
I would like to know what warehouse this guy from NJ is going to because I go to four different ones here and have never seen PMs in warehouse.
Thx for posting. It’s interesting for sure and likely great for the gold market long term.
But the article fails to mention the biggest flaw. Costco not going to buy back the bought gold if you need or want to sell. Buying from a local shop, or IMO, a first rate online dealer means you have a ready made avenue if you decide to sell.
I never plan on selling. But plans can change. If I’m selling back to the dealer from whom I purchased, I’m going to get a better price and faster cash in hand. Even more true if it’s vaulted with the selling dealer. Anything ‘saved’ on the front end by buying from Costco is likely to be lost on the back end.
No guarantee that an LCS will buy back in a time of need. I think sellers will be shocked by the discounts they will have to take.
Buy overall, if someone wants to be serious about stacking, a good rapport and relationship with an LCS or online dealer is needed to fully understand premiums to buy, and discounts to sell.