Not all Costco stores sell bullion, but some do. Mine isn't one of them, but the prices aren't so amazing that I'm going to shed a tear over it.
The latest obsession I've seen is people clamoring to buy their Kirkland 1oz silver bars. Yes, you read that right.
(Source)
They're being sold in a 5-pack for roughly $4 over spot unless you have executive membership and their card to get cash back.
(Source)
Folks, please don't this. You can get silver for spot or less all day over at r/Pmsforsale on Reddit. Sure, this is unique but it's a gimmick. It's just Costco. Years from now we're going to find these in the generics bins at our local coin stores. Stack smart. Ignore the hype and FOMO.
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Kirkland - heaven of Generic products. Like you can get anything you can imagine. I did a lot of research on them like isn't it amazing that a company is growing fast by just providing generic products at lowest price.
Don't get me wrong. They make decent stuff, but overpaying for bullion is never a good idea in my book.
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Well truly speaking you are right but my inner self, "look at those bullions with Kirkland stamps. plz Ahmed buy it otherwise something wrong will happen" ๐. Sorry but I can't win against my feelings of collecting things. - By the way, we don't have Kirkland in our country like it's different from that. Kirkland products were first introduced by my friend to me.
I think these will end up as generic, nothing special bullion silver clearance bin at a regular dealer near yous. The Costco people know what is a hot seller, and silver and gold have been running out of stock plenty of times. I still go to my favorite retailer VCBE.
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Yeah, exactly. People will mock it and pick it up cheap later after all the newcomers dump it at the first sign of a price dip/jump.
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I have been pondering upon CostingCo silver.
I saw it there, it was so pretty, but i didn't bring a bunch of cash with me that day.
If they were trying to get me to make an impulse buy, they got my number.
However, if i go to a good coin shop, and i pay cash, i can usually purchase without sales tax, and only 5% over spot. Or, i could get a Credit Card and order junk silver for spot.
But, BUT! people are always asking me what to invest in. So, without really knowing anything about them, i recommend silver. And the place to purchase was always the big problem.
If i say costingco, i know exactly what they will get, and the spread they will pay.
Further, why recommend silver. If the friend is unhappy with the purchase, i will just buy it off them.
Hahaha.. that's a good idea. Especially if you can buy it at a lower price from them.
I would give them full price back. Friendship is important.
(However, there are no tax KYC documents about it, and it is probably more valuable soon)
If you go on r/Pmsforsale on Reddit you can buy junk and bullion under spot easily.
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That's funny because the kick backs they give you for being an executive member are pretty weak. Like I just got our rewards check and it was maybe $90 for the whole year and with the price of groceries going up we rarely spend less than $100 there in a single trip. I've actually never seen the Kirkland branded bars. In the past they were selling the PAMP ones or Geiger or whatever it was.
$90 for the whole year? Man, that's lame!
Yeah, PAMP and Geiger are nice, but very overpriced.
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Yeah, I feel like we spend way more than that. It must only be a 1% cash back or something.