What do you think of retailer Costco selling gold bars and silver coins?
From the March 15, 2024, Numismatic News E-Newsletter Readers’ Poll – Some folks think it’s fine, some are cautiously optimistic, and some are just cautious.
No problem if the counter person is familiar with coins. Usually, it is someone who has no idea about numismatics.
Name and address withheld
Before buying coins from Costco, I’d ask myself what Costco knows about coins. Until Costco has a few years' track record as a trusted source of coins, I’d rather buy from an established coin dealer or the U.S. Mint.
Louis Ludiciani, Cumberland, R.I.
Not sure.
Kim Randazzo, Address withheld
Some of Costco’s higher-end merchandise lacks quality. I would be very cautious of purchasing gold and silver bars or coins from them. With Costco’s excellent return policy being their biggest attraction, they would have to increase security!
R.C. Quintana, Address withheld
I think purchasing a product from Costco for which you already know the raw price would be unusual. It would be an eye-opener to see exactly what they would mark it up to. I guess it would probably do nothing to the silver and gold markets.
Roy E. Robertson, Annapolis, Md.
I would be tempted to ask for silver at the price I was paying for Franklin Mint items back when I joined Costco. That was in 1981, and I think silver was about $4 an ounce then.
Gary Beals, Lakeside, Calif.
I think it's great that Costco is selling gold bars and silver Eagles (if that's what they are selling)! It will, in my opinion, raise public awareness and stimulate interest in coin collecting.
Jim, Address withheld
I’m all for it if the price is right!
Ed Harrington, Jacksonville, Fla.
I think it’s a great idea. I can get my gold or silver and pay with my Costco card. It’s a win-win.
Daniel Pudelek, Address withheld
It's okay.
Ricky Brewer, Address withheld
They are selling them at a higher premium than you can buy them for at APMEX.
Sean Moffatt, Oklahoma City, Okla.
Welcome Costco! This can only be good for our community.
Joe G., Carlsbad, Calif.
I am not a bullion investor, so if this appeals to those folks, have a look at it.
Lorne Lavertu, Herndon, Va.
That is a very good idea.
Richard Meilleur, Address withheld
Personally, I love Costco. It’s one of my favorite stores.
Costco is known for its excellent prices, so I assume they are competitive when selling gold and silver bars and coins. This might also introduce new people to collecting.
So I am just fine with it.
Roy Herbst, Address withheld
More power to them! This is a great way to increase awareness of gold and silver and potentially introduce numismatics to a wider audience.
Timothy Scharr, Aviston, Ill.
Having Costco join others in selling gold and silver coins and bars is an excellent idea!
It will help create a new wave of coin collectors, increase the number of people investing in precious metals, convert worthless fiat dollars into tangible assets, and protect hard-earned money by exchanging paper for valuable metals.
Name and address withheld
I think it’s great as long as they stay within market prices.
Manny Valerio, Address withheld
As long as they’re genuine/valid/real and not some made-in-China nonsense, I’m fine with it as an easily accessible source of supply!
David Wyndoze via Facebook
I remember in my younger years, Kmart sold coins, and the old five-and-dime store in my town in the ’60s sold coins and stamp bags.
Hildebrand James via Facebook
They’re not wholesale. You can only get wholesale through the secondary market.
Robert Dean Andrews via Facebook
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