In yet another sign that people are starting to warm up to the fact that our economy is NOT in a good place, the giant retailer Costco as started selling gold bars. And they are selling about as fast as the hot dogs at lunch hour!
Costco Starts to Carry Gold Bars
While the retailer is known for selling a lot of items in very large quantities, it’s now picking up a new source of revenue in the form of gold bars. I had to see this for myself, so I went to my local Costco in Fort Lauderdale and low and behold, they were selling the same PAMP Suisse Lady Fortuna bar that I have in my home safe. The bars are sold with a hard limit of two per customer, and beyond the 1 ounce Pamp Suisse bar, they are also selling 1 ounce bar from the Rand Refinery in South Africa.
They are having a very hard time keeping the gold bars in stock, according to this CBS News report.
You’ll get a digital certificate that you can access using a QR code if you choose the PAMP Suisse bar. The Rand bars are detailed with their own unique serial numbers.
As an aside, if you want to access a much larger selection of gold and silver bars from the longest tenured, most respected dealer around, visit American Hartford Gold (that links you to a review with more information).
Visit their website to inquire about selection: Learn More
I personally have gold and silver bars in storage as well as inside of my gold IRA. The latter is something that makes me sleep better at night knowing that a portion (about 17% right now) of my retirement savings is being propped up by the safe haven metals ahead of what I feel will be a very tough market in the coming years.
Costco Sells Out Most Gold Bars in Hours
If you visit their website you won’t see the bars listed as available most of the time, because they are having a hard time keeping them in stock.
(Another reason American Hartford is so dependable, they have done over $2 billion in sales and always have inventory.)
As I’ve covered in previous articles, investors view gold and silver as solid inflation hedges. They also hold up very well in turbulent markets. So when you are running out of answers as your bonds and stocks start showing signs of volatility, you can opt to invest in gold or silver as a method of damage control.
Over the last fiver years alone, gold prices have surged 57%. Right now gold trades just over $1,900 per troy ounce, and as I reported recently, investment strategist Michael Lee has gold prices seeing $5,000 in the coming year, so there is still plenty of room for it to run once the economy starts getting weaker.