Bullion at Costco

[TopHatsTales]

Had a browse at some watches in Costco yesterday and saw they now sell bullion.

50g bar £2080 

So about 5% over market value. As they have printed price tags, I knew they must be overpriced.

Anyone else seen these? They may have been selling these for years, I never look in the jewellery section. 

But the fact they sell it is interesting. It's getting 'mainstream'.

[vicamy]

I haven’t been to Costco recently. I was always wondering when they or any supermarket will start selling gold bullion just like Walmart does. @TopHatsTales which brand/manufacturer is the bar? 

[TopHatsTales]

 

[Tn21]

That's fitting, wholesalers selling gold bullion

[Norskgeld]

I recall a quote by some mega Banker or such like that went something like: "When the average man in the street is into a particular investment then it's time to get out".

Sell all your gold and run away!!! 🤣 🏃‍♂️

[dicker]

The average person in the street is selling I think.  A few weeks ago I visited a pawn shop where they were selling a coin that I was interested in.

Four people selling gold from an ad they had seen in the paper were ahead of me “cash for gold”.  Invariably they were disappointed because the jewellery they wanted to sell was v low quality!

[AuricGoldfinger]

Ah the proverbial shoe shine boy

[MickB]

It was only last Tuesday at their Wembley branch I saw they had these bars for sale and wondered if they moved the price daily as I thought they were a bit expensive. I took the picture so I could compare the price when the spot priced moved. 

Your Costco appears cheaper and that maybe the case at a different branch unless price does move with spot.

[TopHatsTales]

46 minutes ago, MickB said:

It was only last Tuesday at their Wembley branch I saw they had these bars for sale and wondered if they moved the price daily as I thought they were a bit expensive. I took the picture so I could compare the price when the spot priced moved. 

Your Costco appears cheaper and that maybe the case at a different branch unless price does move with spot.

It was yesterday in MK.

[Xander]

5 hours ago, TopHatsTales said:

50g bar £2080

Atkinson 50g bar £2,040.35 

 

[5huggy]

Bit different to  going to the shops for just a pint of "gold top " milk

[Notafront4adragon]

I'll wait until Lidl has a special on gold bullion, they'll have the best prices!

[AuricGoldfinger]

I was just about to say at least you get a VAT receipt but theres no VAT on the gold and not sure how you’d explain that purchase anyway through your books lol

[Uksilverstackers]

👍

[Mkman123]

Now thats neat, I'll check to see if the Costco here has bullion for sale.

[Soul]

I'm glad I've come across with this forum. I've seen this last week Gold Bars on Costco in Chingford (11th March): 100g - £4179.99 and 500g - £20799.99 by HEIMERLE & MEULE (german refinery).Then I've looked on same weight or more popular refinery like PAMPS, METALOR, etc and COSTCO is the cheapest. Even same 500g weight from H&M cost more on other retailers. I've return today sneaking gracefully trough massive hoard of toilette paper and water hunters, and to my surprise, all bars were sold out. All they had left: 2x 20g. Any thoughts about the price? I think they very good on price, I haven't find anything cheaper nowhere yet (unless you want to take a risk and buy on auction websites like eBay). 

[Melon]

Not sure I'd feel safe buying gold from a store that has a bunch of dummy bars lying around! 😄 

[Tattoedamat]

I second  that though...when in Rome

[Pete]

Just received this email from Costco.
Who will be next I wonder - Tesco, Asda, Aldi ??

[MickB]

You beat me by a few minutes. Just mentioned it in the gold deals. Which Costco do you visit as not all stores have the same prices? 

I'm going to the Wembley store tomorrow to ask for a price list so I can post it on the forum. 

[ChrisSilver]

Merged with previously existing topic.  

[AuricGoldfinger]

Interesting to see how they are priced. Must be POA as surely a ticket price could be below spot if there is a big swing one day

[Prophecy]

TBH you get this in the middle east and further afield... gold in super markets etc. But gold is more culturally engrained there. Here, if you buy your gold bar from Costco you most likely don't know what your'e doing and just impulsing on the bandwagon. Hence the proverbial shoeshine boy. We DO NOT WANT the masses buying gold like idiots because it wont affect the price but it might affect the law.

[Pohaku]

I priced these up in Costco Chadderton a couple of months ago and dismissed them as they were well over market price for the same products at online dealers.  However, I returned maybe two weeks ago and noted that the 20g at least (the only one I could actually even consider buying, lol) was in fact pretty close to spot. I hadn't recorded the prices originally, but I suspect that they update maybe only periodically and so as a result there will be times when the store price is well over what it should be, and also sometimes a little below.

I seem to think it was £1011 for a 20g bar when spot was about £995. It was just before payday though, so 😞

[Prophecy]

1 hour ago, Pohaku said:

I priced these up in Costco Chadderton a couple of months ago and dismissed them as they were well over market price for the same products at online dealers.  However, I returned maybe two weeks ago and noted that the 20g at least (the only one I could actually even consider buying, lol) was in fact pretty close to spot. I hadn't recorded the prices originally, but I suspect that they update maybe only periodically and so as a result there will be times when the store price is well over what it should be, and also sometimes a little below.

I seem to think it was £1011 for a 20g bar when spot was about £995. It was just before payday though, so 😞

Now that is research I think we all like to see. If true, could be an interesting opportunity (until they catch on)... or it's a lure to get gold bugs to spend money on groceries and costco account signups. 🤣