Don't You Dare Buy Costco Gold, Do This Instead...
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- Опубликовано: 17 окт 2024
- Let's talk about why buying gold and silver bullion from Costco may not be the best choice for first-time buyers.
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✅ citystacker.com
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My approach to investing involves buying silver and other assets on a regular dollar-cost average schedule. As prices and interest rates fluctuate, I may also increase my purchases accordingly. While my primary focus is on buying silver coins and bullion, I also discuss topics such as cryptocurrency and current events.
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I notice that a lot of the Precious Metals dealers who were always encouraging us to buy physical Gold and Silver in their videos are now warning us about buying PMs from Costco and Walmart. LOL...I thought the message was to just keep stacking wherever you source physical. Gold is Gold !
@@harryharry3193 Maybe he works on cars 😎
I handle PMs throughout the day, every day in making videos. It's just a habit to protect them, especially the silver.
Gold is gold...dont overpay for a gimmick
@@christophersuzor6838 Has anyone posted they've received them and what kind of condition were they in. There were many negative post in reference to the condition of the bars they sold.
It's the same thing that happened with covid: they tell us not to buy something so some other people they want buy it up. They're saying this to deflect attention long enough to insure public sale becomes private ownership.
You can and should use your 3% cash back credit card to buy gold at Costco. Combined with your Costco 2% yearly rebate, that's 5% or $100 back on a $2000 bar purchase. Pretty much almost eliminates the premium.
What credit card has 3% back?
@@aa-sz9xc It's 2% and only 3% on fuel purchases at Costco. Costco Mastercard.
With 4% back it's below spot on many occasions.
@@aa-sz9xc Robinhood Credit Card.
@@aa-sz9xcthe Costco branded Citi VISA card.
Thanks. I follow half a dozen or so PM channels, yours though new to me is rapidly becoming one of my favorites.
Costco sell maple leaf gold coins now. 4% cashback and no Salestax depending on your state makes it very tempting
Costco charges NO tax and allows 5 items per member, you get 2% back on Costco membership card and another 2% on the credit card you use to purchase (no extra charge by Costco)
Jumping through tons of hoops when I've found local coin shops will still be the cheapest
no diesrespect but i will buy my precious materials where I CHOOSE
It's his youtube channel, so he told us where he CHOOSE to buy.
and i expressed my opinion.. you have a good day sir@@ibberman
i choose where to buy. not him not you, thank you drive thru@@ibberman
The discussion on the advantages to buying minted gold coins was helpful.
You also gotta remeber if they are getting checks back from costco at end of year for rewards that helps. Plus maybe they are buying with a credit card with good bonuses and pay it off before end of month. Im guessing thats not the reason, but that would be the only reasons id buy at costco.
It's my reason. I feel it's many others as well.
Costco does not charge tax for gold bars.
Depends in what state the Gold & Silver is sold to!!! Always check your State Dept of Revenue...
buying gold at a familiar retailer feels safer due to the familiarity with the store
i got 4% back on my gold on top of that. Make that another reason.
Agreed. Would selling those retailer gold bars to a private party be harder?
Sell to Apmex, JD Bullion..fast and easy. Bought from both of these dealers before, as well as Costco. No issues and completely satisfied.
Costco does not have a surcharge for CC and if you use the Costco CC you get a rebate.
I like the Gold Eagle, but the premiums are out of site. I love the Krugerrand, been collecting them since the 1970’s, low premiums then any other Gold coins, as far as silver goes, Dimes, Quarters, Half’s, pre - 1964. I do have done American Eagles, got them when they first came out. PREMIUMS ARE THE SECRET WORDS. Keep up the good information. 👍👍
Good video, sir, good info. I am curious about the Maple being more recognizable than Kruggs internationally. Source, please? I'll still stack Kruggs regardless, but that's only because I could never warn up to the Maples.
Let's rephrase that to "One of the most recognizable..."
@@citystacker Agreed, sir. And it's pretty, and has nice security features. And, I still just can't warm up to them. 😄
I live in New Zealand I needed some quick money to pay for a funeral I went to sell 10 oz,s
a Dealer that I've bought from offered a lesser price for the packaging that was coming apart not all gold is equal so I didn't sell to them I went to another dealer that I have brought from they said they would only buy back the product that I bought from them
a third dealer I have bought from said we don't discriminate they offered me the honest price so I was happy
Moral of the story beware where you buy they may not buy your yellow stuff back when the price rises
You are spot on with your analyses and recommendations. Great video.
Great advice, not! I’m buying gold at Costco below spot and it was last weeks Maples.
I'm thrilled to see people put a coin in the shopping cart while buying the groceries. If it's not convenient, people won't bother at all.
Good video, appreciate the information and perspective.
I bought from costco when they first started listing them under spot plus the 2% back for membership and 2% on credit card it made sense but the price isnt as attractive now. maybe for the gold maple leaf when they have it in stock at costco.
I think their “deals” were fleeting. The ASE’s are a good example as they initial went for $550, but now go for $590. They literally had decent deals for a few hours.
Has anyone posted they've received them and what kind of condition were they in. There were many negative post in reference to the condition of the bars they sold.
@@jimk654 Mine (silver and gold bars) are all perfect
I ordered two coins from APMEX. They took zero precautions in packaging and the coins bounced around damaging each other.
🤔 regret this happened to you but I have been getting pm from them past few years and this is news to me 🤷♀️
City stacker, happy New Year.
Thanks for the video & information.
🪙✨🪙🤩☮️✌️🥈
CS, you're the first commenter I've heard say that Maples are more recognized than Eagles or Krugers. What info caused you to claim this? Happy new year and thanks.
Simple google search. Personally I think the Eagles are, but it’s arguable.
Why do so many bash bars?...more expensive is not always better...you like coins we get it you buy coins but bars sell just as easy without the haggle at melt...stack as close to spot as possible and price your stack at spot or your a collector
Bars are easily faked. Very easy to gold plate tungsten. Coins are harder - more details.
@@Whaticansayaboutit in the end gold is gold it's all about how much you got not what shape it is....coins are great if you get the cheap so is a nice bar
@@WhaticansayaboutitANYTHING CAN BE FAKED. Bars are just as easily verified to be genuine as are coins, using a good verifier.
I now think that the best gold coins are not 24K. If a coin is gold plated, the color would be 24K. The gold eagle has a brighter silvery color. The Krug is much more reddish copper colored. Can't duplicate the color - fakes would be obvious.
They just plate it with 22k no different
You are going to have to have the exact formula - 91.67% Au, 3% Ag, and 5.33% Cu. Maybe you could plate that. Use a real AGE as the anode to plate onto tungsten counterfeit?@@Grams_
Hi City Stacker, guess what I went to SD B and choose that Eagle with low Gold content and then my State and it had not tax...LOL Apmex will always charge Sales Tax in any processed Silver or Silver that has color ink added like hte John Wick coins.. They are far more picky then many,,,
Good to know
One in New York you don't pay no taxes cuz I just bought one from Costco and it was the amount that they were asking you pay taxes it's in New Jersey not in New York and I also bought a leaf coin from Costco came in a credit card very beautiful you got business with these guys cuz Costco is beating everybody price 😂😂😂😂
Costco does not sell online only.
Excellent tutorial!!!
Great video
Kinda FUD... Can't go wrong with costco. I've only managed to buy 1 oz so far because they sell out so fast, with the cash back it's a no-brainer... I've managed to grab a few rolls of 2024 silver eagles at costco for about $3 less per coin than jmbullion.
Also, it's not online only. I walked in and they had 5 bars in the case...
Without a doubt, it is head for the suckers! Think about it… If you wanna get get gold… behoove you to pay the lowest amount possible… $?” he haswho has the gold-make the rules. 😊
Can't agree with this. These are NOT compelling reasons to avoid buying CostCo metals.
Just clicked on this, look how cheap gold and silver is. Four months ago.
got 4% back on my gold bars at Costco. Why would i not?
I have newer video which speaks favorably of more recent Costco gold deals, touching on the member and CC rewards which can sometimes bring the price to back of spot.
Good content City!!
great info thank you
Or you can dig it up your self for free lol after tool cost of course! Shovel and a pan doesn't cost much. But if you spend $1,000 on a good high banker, you can make that money back pretty quick and then the rest is profit. If you're in a good spot which is pretty much everywhere, there's a good spot somewhere. Just from the gold deposition . And how it deposits. I guess buying it is cool too I guess but it's more fine to find it lol
They sell them in store 😊
Costco doesn’t charge any taxes or extra fees for Credit Card purchases. This video is wrong
WRONG! They CHARGED YOU A MEMBER FEE. That Must Be Factored Into All Sales, Not Just The Ones You Want to Factor It Into. Most People Don’t Buy Many of The Items Costco Sales Or Even Care For Costco At All.
Hope you make a video soon 👍🏽
I wish I had the time. So many things to do...
@@citystacker oh yes I most certainly understand
Okay, I got the date wrong on my post.
This video was made when Costco gold was a new thing and all the details weren't clear. Your are correct, now he sends out alerts when Costco gold becomes available online and has shown repeated times that buying Costco gold gets you prices below spot...and no, he's not getting a cut of anything other than maybe 0.5 cents per view of this video. Maybe that's why he hasn't posted videos in months and instead sticks to his daily Costco alerts.
@@citystacker Hey City, I didn't see the date.
wow so beautiful videos
True Collectors Give Two Sh$&! For Maple Leaves. If You Are Going To Lay Down Hard Earned Money, You Want Something Nice and Interesting To Admire. One Dam Maple Leaf and I’m About Done Unless I Get More At 50% Off. Let’s Face Facts, Many of You Will Have a Family One Day and Will Share Your Collection With The Grand Kids. How Many DAM MAPLE LEAVES ARE YOU GONNA SHOW EM BEFORE THE KID RUNS OFF AND LOOKS AT HIS PHONE.
I’d rather buy gold from Costco than buy some foreign POS rooster or ducat I’m going to get less than spot for when I sell it, if I can find a buyer. Maples? I hate their odd size. And you never save on sales tax. You are obligated to pay the tax and every state has a form for you to do that, if the retail seller didn’t collect it. Unless you are advocating cheating on your taxes?
I thought it was only if your selling more then 25
@@Grams_ it depends on the state you live in. My state is one of the few remaining who tax 100% of sales. The only way I can legally avoid sales taxes on any bullion or numismatic is to buy from out of state and take delivery at a vaulting service outside of my state. If I later ship into my state, I owe sales tax. If I sell out of the vault and make a profit, I won’t pay sales tax but I will owe capital gains tax.
If you buy Gold $2000 or more, no tax in Ca.
@@ibberman sweet
Zelensky appreciates your diligence in paying your taxes
I wouldn't buy 22kt coins.
Walmart!
I funny agree with your assessment here. Costco is NOT the best place to buy precious metals because of tax and the high probability of getting items that are not as easily recognized and thus not as liquid when the time comes to sell. Either utilize your LCS (you should by default - support your local community and not a retail titan like costco) or shop around online and look for deals online with known dealers with a good reputation.
Minute 4:50 why is that ?
If you appreciate LOW prices, quick shipping and top notch customer service then you NEED to shop at Monument Metals! Rarely are their prices higher than "the big boys"...and they don't inflate spot prices!!
What happened is that those people want to charge $100 of a stock market and Costco don't do that okay I bought a coin this month $2,400 and right there I aren't I earn $48 back plus my credit card get points ok maybe I don't know yours you guys don't got the machines to test the goal and all that but here in New York we got everything everything we got in New York😂😂😂😂😂
Excellent Video Mate! Fersure Gonna Subscribe. I Like The Clarity of Your Review. I’m Just Getting In The Mix As I Am Just Starting My Purchase Of Precious Metals Which I Hope Is a Long Endeavor. Anyhow, I’m Going with SD BULLION HOPEFULLY. I Like Their Story and Their Goal To Be Number One. I Think For First Time Buyers, They Give You a Percentage Off or Something. Found Out About Them Researching Metals On Channels. Anyhow, The First Purchase Will Be About 5G’s Of Junk Silver. Maybe 7.5G’s. Going Hard Into that Cause You Can Use It To Barter In Case Of Attack By Communist Or We Go Civil War or Both. Trump Already Dodged a Bullet and I Hear 2 Planes Had Emergency Landings. THIS IS SERIOUS BUSINESS AS I FEAR IF THE DEEP STATE IS SUCCESSFUL, IT WILL START A CONFLICT TO TOPPLE THE EXISTING GOVERNMENT. If Anything, It Will Destroy Life In America At the Very Least. There Likely Won’t Be a City Left Standing After. Not Good News to Steer Me Into Metals But Glad I’m Doing It. Good Luck With Your Channel. What Is Your Take On My First Purchase and How About a Junk Silver Video? As For Costco, Fersure One Must Factor In Their Membership Price And The Almost Guaranteed Sales Tax. I Thought Everything You Reviewed Was Sound But Of Course Someone Would Take Offense To Sound Reasoning. The Path To HELL IS VERY WIDE WITH MANY ON IT AND OF COURSE THAT IS ALL CHOICE TOO. When They Get To That Very Real Place One Day They Won’t Have The Luxury To Express Their Right to The Bull Headed Choice That Got Them There.
Without a doubt, it is head for the suckers! Think about it… If you wanna get get gold… behoove you to pay the lowest amount possible… $?” he haswho has the gold-make the rules. 😊