Earlier in the year, Costco stated that gold sales contributed around $100 million in revenue in the final quarter of last year when they first began the offerings.
Since then, Costco has been making regular offerings of gold coins from both the US Mint and Royal Canadian Mint, such as the 1 oz Gold Buffalo and 1 oz Gold Maple Leaf coins.
To help battle the latest round of inflation, the Central Bankers and politicians are turning to the oldest form of money known to civilization. This week, Zimbabwe launched a new “structured currency” backed in part by gold.
With central banks around the world buying gold in recent years, the price of gold rallied past $2,300 per ounce on Thursday, shocking retail investors and marking a new all time high for the shiny metal.
Prior to the Great Depression, gold coins were the normal and natural form of money and in common circulation throughout the world.
Gold coins can bring unique diversity to an existing investment portfolio, while expanding on an interest in numismatics or history. Beyond potential financial gains, the process of collecting, studying, and preserving historical coins can morph into a numismatic hobby.
HSBC has launched a blockchain-based digital gold token for retail investors in Hong Kong that is backed by physical gold held in the bank’s London vault allowing for efficient and cost-effective tracking of allocated and unallocated gold holdings.
Young investors in China have started a trend towards accumulating tangible wealth by stacking 1 gram gold beans. The beans are affordable and are viewed as a low-risk investment options.
Costco has broadened its selection of precious metals, introducing an array of new coins and bars to cater to the growing interest in tangible assets. The addition includes a variety of gold and silver coins and bars from renowned mints around the world, making it easier for members to diversify their investment portfolios.
The new lineup features investment-grade bullion coins such as the American Gold Eagle, Canadian Maple Leaf, along with various sizes of gold bars from PAMP Suisse and the RAND Refinery.
JM Bullion was acquired by the industry wholesale powerhouse, A-Mark in March 2021. Since then, the company has gone on an acquisition spree, buying up many well-known precious metals dealers, limiting the options for investors looking to buy gold and silver.
Costco, best known for their $1.50 hotdog and soda combo, is now offering members additional investment-grade precious metals that are available to buy online.
Some of the most frequently asked questions posted on social media by investors that are new to buying physical silver include: where to buy the cheapest silver rounds online? And the second most asked question: which dealer has the lowest price on silver rounds?
In his testimony before the Senate Banking Committee, Federal Reserve Chairman Jerome Powell told Senators that there will be bank failures resulting from the commercial real estate crisis.