While the allure of buying gold coins from a familiar warehouse retailer like Costco might seem appealing, numerous reports suggest that caution is warranted.
In multiple instances, Redditors have reported receiving empty packages from Costco and have voiced their frustrations and concerns.
- In a thread in the r/Gold forum, reticentninja reported receiving an empty box despite signing for delivery in person from UPS. The box appeared opened and resealed, leaving nothing but an empty bag. After contacting Costco, the customer faced a multi-day investigation before potential resolution.
- In another r/Gold thread from about a year ago, scrooplynooples ordered multiple gold bars but found one missing upon delivery. Despite having video footage of the package being opened, they encountered considerable hurdles and delays in securing a resolution from Costco, ultimately resorting to disputing the charge with their credit card company.
- In the r/CostcoPM subreddit, sbrognad described a similar scenario: a replacement shipment for a damaged gold coin arrived completely empty, again causing prolonged customer service delays and frustrations.
- The problem isn’t isolated to UPS deliveries, either. Redditor Efficient-Cow-5645 shared an experience involving FedEx in which a supposedly secure package arrived crushed and coinless.
These stories highlight continuing problems with Costco’s fulfillment process, showing that even well known retailers can have significant security lapses when dealing with high-value items like gold coins.
Is Lost Gold Unique to Costco?
While incidents of receiving empty packages appear notably frequent with Costco purchases, similar events sometimes occur even with reputable bullion dealers, though seemingly less often. Users in the Reddit precious metals forum r/Silverbugs periodically document cases where packages from well-known dealers arrive damaged or empty. Most dealers carry insurance against theft and have a process for handling these issues swiftly and transparently.
Concealing Package Contents
Some dealers take things a step further by labeling packages with fictional company names unrelated to precious metals. Examples commonly cited on forums like r/Silverbugs include innocuous-sounding sender labels such as “ABC Supply Co.” or “Fulfillment Warehouse LLC.” Most dealers also make sure that the coins inside the box are secure and don’t rattle around in the box. These deliberate efforts reduce the likelihood of theft or tampering during transit.
Where Costco Falls Short
Numerous complaints over the last year suggest that when an issue occurs, there is often lack of immediate customer support responses which involve extended investigation periods and the stress of missing high-value items.
While Costco offers competitive prices, specialized bullion dealers ensure better customer service, greater transparent accountability, and quicker resolution of issues. Many of the large online bullion dealers, such as APMEX, SD Bullion and Bullion Exchanges handle thousands of precious metals transactions daily. They understand the nuances of precious metals and mitigate risks related to packaging and shipping.
Choosing reputable gold dealers who prioritize discrete and secure shipping helps to ensure your precious metals investment remains safe and secure. While Costco’s offerings in gold and silver coin prices might appear attractive, the recurring problems with missing or empty packages raise red flags that consumers should be considered.
