COSTCO GOLD : The Benefits and the Pitfalls

[@carlosdeer2392]

I had to save this video you maid alought of excellent points thank you.

[@LegacyStacker]

Hi WC! I made a video on Costco Gold and Silver myself. Interesting point on the fact that Costco won't buy it back, the way a bullion dealer, or local coin shop will! 😎🏆

[@Dub-C_Coins]

Appreciate it! And I LOVE a stacker who is balancing a portfolio that includes PMS AND real estate!!

[@andresgarzaiii]

Saw Krugerrands, and knew I had to subscribe. Have any other videos with them?

[@Dub-C_Coins]

Hey thanks for the subscription! Yes, I talk about Krugerrands a fair amount (one of my favorite gold vehicles). But usually just as a back drop or illustration while I'm discussing other concepts. The two videos I have on why I can't recommend gold bars feature them a lot. AND the two videos premiering TONIGHT (Coin Safari Volumes 2 and 3) have them front and center because I liked the safari feel they have! If you're going to watch the two Safari videos, you might start with Coin Safari 1 from earlier this month. Shows a dozen interesting silver and gold coins before I ship them off to NGC (the taxidermists).

[@shilver101]

I just purchased a Gold Buffalo from Costco this morning. This the 3rd time I am seeing it and was lucky enough to get one this time....sells out so fast. I see your point but don't actually see those as negatives, in the sense I was looking for a full oz. They actually had 25 1 gram Pamp bars on their sight today but they were sold out. The Buff was 30.00 over spot.....Will never ever find that anywhere on line or a lcs

[@Dub-C_Coins]

So long as you are comfortable with the full ounce. Sounds like you got a good deal!

[@magerauwsome6908]

Good video, I've got many fractional gold coins over the years and often at really good premiums (especially on ebay from reputable sellers). I like your point on divisability and in a SHTF scenario some fractional could be very beneficial for barter. Also many times you can get the higher premiums back when you barter/re-sell the fractionals. Also silver is a great option for the barter scenario. Thanks

[@Dub-C_Coins]

Good points. The nice thing about precious metals is that it's better to have them and not need them, than to need them and not have them!

[@theboringchannel2027]

when the SHTF, nobody is going accept shiny metal in barter. Why, because of the amount of fakes out there. You wouldn't buy silver with paper money from a guy setup at the fleamarket, unless you happen to have an expensive silver tester on you. When you are at the fleamarket bartering your goods one day when the SHTF, you will not accept shiny metal either, without a tester at your disposal, and will operate with the currency you know, dollar. Might take a trash bag full to pay for something, but how it will go down, just like it has in many other countries that experienced this situation in the past century or more.

[@BlackSwansFine-co6cd]

My first rule of gold stacking...Never Ever Ever buy gold that is stuck inside some sort of assay card or graded holder/capsule. I must be able to actually hold the coin (ping it) and run multiple tests and use calipers/sigma. I will only buy gold maples, brits (security features are perfect!), and occasional buffalos. Stuck in a card makes it impossible to run some of these tests accurately.

[@Dub-C_Coins]

We are definitely on the same page there! I couldn't agree more.

[@cscorona1]

Costco is never going to sell a fake product. And once it’s yours, you can take it out of the assay card if you so choose.

[@Dub-C_Coins]

I trust Costco 100%. But will your buyer trust you? That's the question. @@cscorona1

[@cscorona1]

@@Dub-C_CoinsI mean, that’s a problem no matter where you choose to purchase your metal from.

[@Dub-C_Coins]

If you buy gold bars. Which is why I don't recommend gold bars. Especially those in assay cards: kzbin.info/aero/PLebJigXP2OH9AHS9kiUTbI4atY-qjQwEq @@cscorona1

[@jessef.81]

What about the QR Code scanner on PAMP?

[@Dub-C_Coins]

Excellent question. PAMP's veriscan technology is supposed to be state of the art. But all it does is verify the packaging. That's why I don't personally like gold in assay cards: kzbin.info/aero/PLebJigXP2OH9AHS9kiUTbI4atY-qjQwEq

[@brettroberts3551]

Another great, informative segment. Personally, its really hard to argue with any of your topics as you carefully disclose your intentions, your personal views and carefully analyze the pros and cons. It's excellent educational, informative information. Thanks for making these.

[@Dub-C_Coins]

Really nice to hear, @brettoberts. I appreciate your comment a lot!

[@MK7779-]

Excellent advice, thank you

[@Dub-C_Coins]

So glad you liked it! Subscribe for a brand new Costco video coming really soon if you haven't!

[@jessef.81]

Where did you get that mat?

[@Dub-C_Coins]

See this video at about the 4:00 minute mark! kzbin.info/www/bejne/rHaWe5yFnL6ditE

[@jessef.81]

@@Dub-C_Coins love it! I thought so! I’m Tohono O’odham 🤜🏾🤛🏾

[@rogeredson8709]

a veriscan machine can test through the plstic

[@Dub-C_Coins]

You mean Pamp's online app? You have to have a phone that can run the app, you have to have internet connection, you need their software to be working, you need the app to be working, and all of that just to confirm the packaging is authentic--not the gold.

[@momoneyinc]

I had no idea you could buy silver or gold from Costco.

[@324amgela]

Just be a member if I were you I would get the executive membership is $120 and you can buy whatever you want

[@PE9A3p4hUfwv]

I cannot find gold or silver at the Costco site. Can you provide a link?

[@Dub-C_Coins]

Search "Costco Gold Bullion" or "Costco Silver Eagles". They sell out just as quickly as they list them, so you have to check often.

[@WMBisme]

Really dig your explanations

[@324amgela]

I bought 1 oz and Costco I got the executive membership when the goal was $2,400 and right there when I bought it they give me $49 cash back

[@dangerousdan7607]

I wonder if you get the 2% cash back if you use your Costco credit card.

[@Dub-C_Coins]

Honestly a great question. That'd be another $40 saved, give or take.

[@shiftomnimega]

You get 2% on citi visa and if you’re executive you get that 2% as well. Total 4% back. The issue with executive rewards is the $1k reward cap, but unless you’re buying $50k in Costco merchandise in a year it won’t be an issue to buy a couple bars.

[@Dub-C_Coins]

Great info. Thanks! @@shiftomnimega

[@robertrod9467]

Yes..

[@TonyL-gw4qx]

1 ounce size is the size where you get the best price below 10 ounces!

[@rogeredson8709]

bought the pamp gold bar the other day 10 bucks under spot 0 premium Im ok with that

[@Dub-C_Coins]

Nice. Sounds like you got the good stuff!

[@de_pin5835]

Yep,all markets are manipulated. Stocks,gold,silver etc. High volume paper transactions can move it up or down. Just like the US Fed does. So many variables. Peace!

[@ericmares8036]

Thanks, dub-c!

[@shiftomnimega]

Good commentary even if I don’t entirely agree. If you have the $2k specifically for metals, then it’s well spent at Costco. You’re likely buying under spot if you have the Costco Citi Visa and executive membership. I hate assay cards too, but the bars make good trade fodder and I bet that maple will fit in my tube after the card meets some scissors.

[@Dub-C_Coins]

Fair. My main concern is for those whose budget doesn't really allow for a full troy ounce purchase. If you shoehorn those folks into a full ounce, rather than dollar cost averaging smaller units, you are hamstringing them when it comes to selling.

[@CarlosGonzales-wm8xx]

Is Costco still selling precious metal coins or bars? I looked at their site and all I could find was 14 karat necklaces.

[@Dub-C_Coins]

They are. But they sell out almost instantaneously.

[@shilver101]

I Just picked up a Gold Buff this morning they had AGE too. only 30.00 over spot Crazy!!

[@324amgela]

I'm sorry I disagree in that too I bay 1 oz of bar pan and it was one troy ounce maybe in 5 g 10 g is not but 1 oz is Troy ounce Costco sell that especially in the bars also and they got American eagle also so I don't know I don't agree with you

[@priceowens6004]

if someone needs to sell gold for car repair you have other financial problems. you dont buy knowing you have no reserve to live.

[@Dub-C_Coins]

Exactly my concern about these. A relatively large purchase made by folks with little experience in buying precious metals, being sold by a vendor who can't offer advice and who has little if any experience themselves, and who doesn't purchase these back or allow a return. It could get messy.

[@nates4310]

Dub C says to check your tegrity

[@Dub-C_Coins]

A man ain't nuthin without 'tegrity.

[@laupeter4594]

Lol is Costco gold real? Will someone do a video on it

[@JohnSmith-zw8vp]

Why Costco of all places? I would think serious precious metal buyers would get these at a REAL bullion dealer, you know, someone that actually knows their product and knows what they're doing?

[@Dub-C_Coins]

Yep! My exact words--especially because Costco won't buy these pieces back. That's why I suggested people visit their local coin shop for a wider variety (including items that might be a better match for them) AND having an opportunity to meet the person behind the counter who they may need to eventually sell their items to. That said: Costco is a known, reputable retailer with whom members have a good relationship.

[@stevestevens502]

costco gets the products shipped directly from the mint

[@Johnmartins648]

@@stevestevens502no they don’t

[@jeffbryan3224]

I saw a counterfeit 1oz pamp on youtube a while ago in the nice packaging and everything. I don't buy THOSE any longer! Purchase from a REPUTIBLE dealer!

[@Dub-C_Coins]

Definitely. That's why I suggest coins only and no bars. Here's the 2-part video I made about that: kzbin.info/aero/PLebJigXP2OH9AHS9kiUTbI4atY-qjQwEq

[@pugchronicals1374]

Don't buy gold or silver at Costco . I bought one oz gold eagle they charged me 125.00 tax even thoght my State doesn't tax Silver /Gold bullion purchases . Called CS several times several different answers, Was told email Costco Tax dept bc there's no ph number to call. Haven't received A txt call or email very frustrating and upset that they do not comply with different state tax laws. I doubt i'll get a reply or a refund this is just plain theft. Gold n Silver buyers you have been warned!

[@Dub-C_Coins]

I've heard similar stories, and that Costco does in fact refund taxes if you follow up. Keep in mind that not every municipality is tax exempt for precious metals.

[@pugchronicals1374]

@@Dub-C_CoinsColorado has no tax on Gold n Silver purchases, other website don't charge me tax on gold n silver purchases.. I have talked to CS numerous times no resolution or action or contact has been made by Costco. No one has the the authority to refund my 125.00 And their Tax Dept has no Ph number only email is that by design? Still waiting to hear from their Tax dept !!

[@JOHN-6-45-i-dont-belong-here]

Bet you paid tax on that