Just read the Costco article about them selling 100-200 million a month. Someone quoted their price from this week below. Seems like a small 2-3% markup from spot and the Pamp bar was shown. Loss leader for membership? What do the B&M's charge as a normal markup on bullion when selling to a retail customer?
On its website, Costco sells its 1 oz gold bar for $2,679.99. You have to be a member to buy the bullion. It's also non-refundable, and there's a limit of five total units per membership
@coastaljerseyguy said:
Just read the Costco article about them selling 100-200 million a month. Someone quoted their price from this week below. Seems like a small 2-3% markup from spot and the Pamp bar was shown. Loss leader for membership? What do the B&M's charge as a normal markup on bullion when selling to a retail customer?
On its website, Costco sells its 1 oz gold bar for $2,679.99. You have to be a member to buy the bullion. It's also non-refundable, and there's a limit of five total units per membership
2 or 3% is pretty normal. 4% is the ceiling. You're talking $50 to $100 per ounce.
All comments reflect the opinion of the author, even when irrefutably accurate.
I will have to check if the Executive Membership 2% cash back works on gold. Along with credit card cash back (and rotating 5% offer) Costco could be a place to buy in the future. I think I saw they had Buffalo's at one time.
Buffalos are coin so they trigger 1/2 of sales tax outlay in Colorado since they are "coins"
@pcgscacgold said:
I will have to check if the Executive Membership 2% cash back works on gold. Along with credit card cash back (and rotating 5% offer) Costco could be a place to buy in the future. I think I saw they had Buffalo's at one time.
more like 3500$, I expect a magical point for profiting taking tips the scales back into the 2500$ range but If I sold 100k worth of gold Im not sure where I would put the 100k. I will say my primary neckless and bracelet I've had since the early 2000s and wear everyday is over 20K in gold at todays prices (compared to about 2k when I bought them) and its giving me 2nd thoughts about wearing it so much.
For gold - The more it goes up the more of them priced out or risk averse. If it does drop potential big loss.
On the other hand maintain your overall plan gold position. For me it’s a combo investment and retail inventory class. Being that they are big ticket margins can be tight. Can get much higher margin on currency.
I did the math on a few of my FUN 2020 purchases when gold was about $1,650 an ounce. So figure gold bullion is up about 130%.
Bullion coins like Proof Gold have pretty much been flat; which is about as expected. That's for a 1-ouncer; maybe smaller gold coins have differed.
Numismatic coins like my 1923-D MS-66 was about $3,500 then; comparable today is about $5,000 or so. Figure a 40% increase. I've seen MS-65 premium coins have their premiums fall as gold rose just like my 1923-D.
I see the erosion in premiums in other gold coins I don't currently own but am considering for purchase. I wonder what common or semi-common premiums on pre-1933 sub-1 ounce coins (Eagles, Half Eagles, and Quarter Eagles) have done with gold doubling in price in a few years. Anybody see any trends there ?
@GoldFinger1969 said:
I did the math on a few of my FUN 2020 purchases when gold was about $1,650 an ounce. So figure gold bullion is up about 130%.
Bullion coins like Proof Gold have pretty much been flat; which is about as expected. That's for a 1-ouncer; maybe smaller gold coins have differed.
Numismatic coins like my 1923-D MS-66 was about $3,500 then; comparable today is about $5,000 or so. Figure a 40% increase. I've seen MS-65 premium coins have their premiums fall as gold rose just like my 1923-D.
I see the erosion in premiums in other gold coins I don't currently own but am considering for purchase. I wonder what common or semi-common premiums on pre-1933 sub-1 ounce coins (Eagles, Half Eagles, and Quarter Eagles) have done with gold doubling in price in a few years. Anybody see any trends there ?
Premiums have dropped across the board on common date gold coins. Common date slabbed AU half eagles from the 1840’s and 50’s aren’t worth much more than they were ten years ago.
It’s only making things worse for coin collectors. Large gold pieces are becoming unaffordable for many of them, and their numismatic value is gone.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@BillJones said:
It’s only making things worse for coin collectors. Large gold pieces are becoming unaffordable for many of them, and their numismatic value is gone.
Funny how the markets work, this seems so counterintuitive (to me, anyway…)…. I had always assumed an increase in the value of the gold content would/could only boost the value of numismatically collectible gold coins.
@BillJones said:
It’s only making things worse for coin collectors. Large gold pieces are becoming unaffordable for many of them, and their numismatic value is gone.
Funny how the markets work, this seems so counterintuitive (to me, anyway…)…. I had always assumed an increase in the value of the gold content would/could only boost the value of numismatically collectible gold coins.
Why? $4000 is a lot of money for most people. The majority of collectors rarely spend more than $100 for a coin much less $4000.
All comments reflect the opinion of the author, even when irrefutably accurate.
Comments
Just read the Costco article about them selling 100-200 million a month. Someone quoted their price from this week below. Seems like a small 2-3% markup from spot and the Pamp bar was shown. Loss leader for membership? What do the B&M's charge as a normal markup on bullion when selling to a retail customer?
On its website, Costco sells its 1 oz gold bar for $2,679.99. You have to be a member to buy the bullion. It's also non-refundable, and there's a limit of five total units per membership
2 or 3% is pretty normal. 4% is the ceiling. You're talking $50 to $100 per ounce.
All comments reflect the opinion of the author, even when irrefutably accurate.
I will have to check if the Executive Membership 2% cash back works on gold. Along with credit card cash back (and rotating 5% offer) Costco could be a place to buy in the future. I think I saw they had Buffalo's at one time.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Buffalos are coin so they trigger 1/2 of sales tax outlay in Colorado since they are "coins"
Bumping up (retail price) my $20 Libs and Saints.
You mean "If it goes to $3,300...."
more like 3500$, I expect a magical point for profiting taking tips the scales back into the 2500$ range but If I sold 100k worth of gold Im not sure where I would put the 100k. I will say my primary neckless and bracelet I've had since the early 2000s and wear everyday is over 20K in gold at todays prices (compared to about 2k when I bought them) and its giving me 2nd thoughts about wearing it so much.
11.5$ Southern Dollars, The little “Big Easy” set
For gold - The more it goes up the more of them priced out or risk averse. If it does drop potential big loss.
On the other hand maintain your overall plan gold position. For me it’s a combo investment and retail inventory class. Being that they are big ticket margins can be tight. Can get much higher margin on currency.
I did the math on a few of my FUN 2020 purchases when gold was about $1,650 an ounce. So figure gold bullion is up about 130%.
Bullion coins like Proof Gold have pretty much been flat; which is about as expected. That's for a 1-ouncer; maybe smaller gold coins have differed.
Numismatic coins like my 1923-D MS-66 was about $3,500 then; comparable today is about $5,000 or so. Figure a 40% increase. I've seen MS-65 premium coins have their premiums fall as gold rose just like my 1923-D.
I see the erosion in premiums in other gold coins I don't currently own but am considering for purchase. I wonder what common or semi-common premiums on pre-1933 sub-1 ounce coins (Eagles, Half Eagles, and Quarter Eagles) have done with gold doubling in price in a few years. Anybody see any trends there ?
Premiums have dropped across the board on common date gold coins. Common date slabbed AU half eagles from the 1840’s and 50’s aren’t worth much more than they were ten years ago.
It’s only making things worse for coin collectors. Large gold pieces are becoming unaffordable for many of them, and their numismatic value is gone.
The price of gold is now arriving at Gate 12...
Gate 13...
Gate 14...
Gate 20...
Gate 4,000
Funny how the markets work, this seems so counterintuitive (to me, anyway…)…. I had always assumed an increase in the value of the gold content would/could only boost the value of numismatically collectible gold coins.
Why? $4000 is a lot of money for most people. The majority of collectors rarely spend more than $100 for a coin much less $4000.
All comments reflect the opinion of the author, even when irrefutably accurate.