The large, big-box, members only retailer best known for bulk household goods has added silver and gold coins from the Royal Canadian Mint to their product lines as more investors stock up on precious metals.
Recently, Costco began offering Mint Tubes of Canadian Silver Maple Leaf coins, not long after the retailer began limited offerings of the 1 oz Gold Maple Leaf coin.
Enthusiasm by investors on social media shows a positive response to this trend, with many only posts expressing excitement over the convenience of bringing home investment-grade silver and gold to their, alongside oversized packs of toilet paper, laundry detergent and other household items.
Purchasing precious metals from Costco is only to their members and more than 32 million people can enjoy earning an automatic 2% cash back on club purchases. Additionally, credit cards rewards can offset any premiums further, with many credit card offers available that include an additional 1 to 2%.
With recent spot prices, the average price of a Tube of Maple Leaf coins is around $650, getting 4% in cash back rewards helps to offset the premiums that come along with buying precious metals online.
The 1 oz Silver Maple Leaf coin, introduced in 1988, embodies the Mint’s dedication to quality and innovation. Each coin contains .9999 fine silver, making it one of the purest silver coins available on the market. This commitment to purity, coupled with the coin’s iconic design, has cemented the Silver Maple Leaf’s status as one of the world’s most sought-after silver bullion coins.
The Royal Canadian Mint’s 1 oz Silver Maple Leaf coins stand as a testament to Canada’s rich tradition in silver craftsmanship and minting excellence. These coins are sought after for their purity, intricate design, and historical lineage.
Costco’s decision to sell precious metals is being viewed as a strategic way to tap into niche markets while exposing precious metals as store of value and wealth to their diverse customer base.
Costco’s venture into precious metals is also helping to set a new retail trend that blurs the lines between everyday shopping and investing. Shopping at Costco for Maple Leaf coins helps to bring awareness to a whole new class of investors who are poised to learn more and gain a better understanding of investment-grade silver.
While reactions on social media are mixed, with many traditional investors balking at the trend, this move undoubtedly positions Costco as a pioneer in integrating investment options into a traditional retail environment. After experimenting with selling American Silver Eagles, it seems clear that the decision to expand the available products is something that resonates with the majority of its membership base.
The coins are available for sale online only at random times. When they are available, they are limited to 2 tubes per member and they sell out typically within an hour.
References:
Costco Product Page
