The recent news of Costco selling gold bars and silver coins has sparked interest among the average American consumer to consider investing in silver coins or gold.
Precious metals have a history of maintaining their value over time, even during periods of economic instability. This makes them an attractive option for everyday Americans looking to preserve their wealth in the long run.
Costco is selling gold bars and silver coins as a way to reinforce its “treasure hunt” brand image, where shoppers can find unexpected and limited-time items that create a sense of urgency to buy. The company’s CFO mentioned that the company has seen success in selling these items, with sales of gold and silver contributing to the growth of Costco’s e-commerce business.
“We try to create an attitude that, if you see it, you ought to buy it because chances are it ain’t going to be there next time,” Costco’s founder once said. “That’s the treasure-hunt aspect. We constantly buy that stuff and intentionally run out of it from time to time.”
With the current economic climate, it’s worth considering investing in silver coins or gold as a means of protecting your wealth.
Costco Gold Bars & Silver Coins
The gold bars are 24-karat and priced at around $2,000, while the silver coins come in packs of 20 and cost $525. The silver coins are one-ounce American Silver Eagle coins with an image of Lady Liberty on one side and an eagle on the other.
Gold can serve as an alternative currency in times of economic instability or hyperinflation. Some people buy gold as a hedge against the devaluation of paper currencies or as a means of exchange in case of a currency crisis.
With the Consumer Price Index (CPI) rising at an alarming rate, the purchasing power of your money is decreasing over time. By investing in gold and silver, you can hedge against inflation, as these precious metals. Gold and silver have historically been considered a hedge against inflation because precious metals tend to hold their value over time.
Adopting a prepper philosophy encourages self-reliance and personal responsibility. By being prepared for potential challenges, you can reduce your dependence on external support systems and take control of your own well-being.
More people are starting to prioritize having a diverse range of assets in their emergency fund, and precious metals like gold and silver can serve as a hedge and provide a tangible asset to protect against inflation and economic uncertainty.
Costco’s success in selling these precious metals comes as the company continues to report strong profits from the pandemic in 2020, when customers rushed to stores to load up on groceries and household staples.
Physical gold and silver coins can be stored securely in a home safe or safety deposit box, providing preppers with peace of mind knowing that their assets are protected and accessible.
The gold bars and silver coins that are sold at Costco are some of the most widely recognized and can be easily traded or sold as needed, making them a more liquid asset compared to other investments.
With inflation and interest rates being a concern for many, some people view gold and silver as a more resilient investment option. By offering these products, Costco is catering to this demand and providing its customers with a way to diversify their investment portfolios.
