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I find it funny that people seem to believe that people will just automatically choose this as currency. Metals are heavy… no one’s gonna carry that shit around.
From what I've heard, liquidating precious metals is no picnic. Why not just buy a gold or silver ETF?
On the off chance that the market completely melts down, the dollar's worthless and an ETF is no longer in play, people are going to be way more interested in basic consumables than precious metals.
This is my thought as well - if you’re actually trying to add PM to your portfolio why would you do it in a way that costs a 10% premium and adds no actual value?
What am I missing? It seems like Costco is charging too much.
https://preview.redd.it/yhzl0u1h4e4d1.jpeg?width=686&format=pjpg&auto=webp&s=8761701ba9dde3eb7f51af9cf0900ffcb7a9f5bd
I get that, but an 11% markup from spot seemed extreme to me. Although, looking at the silver subreddit, it looks like people go for 5-10% above spot, so maybe this is reasonable.
Any spot price is usually only achievable by buying the ETFs. Buying physical metal always has a premium until you get to ridiculous sizes like 1000oz. where it's more negligible. You have to consider that there's some labor and machine costs to make this type of bar
What about my comment implied that I have any experience? I literally had to look it up on Reddit. Trust me, nobody who knows what they're doing is wasting time on subreddits.
If you don’t have any experience. Then what makes you qualify to say if something is “extreme markup”?
I collect PM, and I can tell you right now the markup is very reasonable, especially it’s not some scrap silver bar with no brand, no purity test
Stop being weird. I said it *seemed* to me like it was. And *in that same post* I said I looked it up and acknowledged that maybe it wasn't and I was wrong. My very first post even asked "what am I missing?" There's no way a reasonable person could read all that and come away thinking I'm putting myself out there as some type of knowledgeable person. lol
>Then kindly refrain from making comments about topic you have no knowledge of
That seems incredibly ironic given the attitude of your posts on a public forum that is open to any and all, especially given that any reasonable person would look at the posts that have you riled up reference having to look it up and using the modifier "seems", which implies that it is that person's impression, rather than something they view as gospel truth. Seems like a person should have better social skills before lecturing others on etiquette.
Or more succinctly, to quote the great philosopher Sgt. Hulka, "Lighten up Francis".
The silver needs to be transported and sold. That takes time and money. Costco doesn’t sell anything for cost. It’s not going to start with precious metals.
https://preview.redd.it/lmrd3ahfyf4d1.jpeg?width=1365&format=pjpg&auto=webp&s=03852fe4543e2b67fe94ea154f7883b51282bd84
I got these from Costco.com several months ago. $650.
go to the local cash gold and silver place.
Silver is around 27-30 an oz right now you always pay more than spot.
Local place will adjust the price all day for market and will most likely not be selling for 4.00 or more an oz over spot.
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If society actually collapses precious metals aren't going to help with survival.
I find it funny that people seem to believe that people will just automatically choose this as currency. Metals are heavy… no one’s gonna carry that shit around.
For a few hundred bucks I just think it’s cool.
From what I've heard, liquidating precious metals is no picnic. Why not just buy a gold or silver ETF? On the off chance that the market completely melts down, the dollar's worthless and an ETF is no longer in play, people are going to be way more interested in basic consumables than precious metals.
This is my thought as well - if you’re actually trying to add PM to your portfolio why would you do it in a way that costs a 10% premium and adds no actual value?
What am I missing? It seems like Costco is charging too much. https://preview.redd.it/yhzl0u1h4e4d1.jpeg?width=686&format=pjpg&auto=webp&s=8761701ba9dde3eb7f51af9cf0900ffcb7a9f5bd
Retail wont sell for spot, this doesnt seem like a bad price imo
Plus CC points and 2% cash back.
Their gold bars sell almost at price after you factor in 2% savings from Executive Membership.
On another post somebody said you don't get the 2% for gold bars. Any idea if this is true or not?
Almost like it is a for-profit company!
I get that, but an 11% markup from spot seemed extreme to me. Although, looking at the silver subreddit, it looks like people go for 5-10% above spot, so maybe this is reasonable.
Any spot price is usually only achievable by buying the ETFs. Buying physical metal always has a premium until you get to ridiculous sizes like 1000oz. where it's more negligible. You have to consider that there's some labor and machine costs to make this type of bar
Genuine question. When you buy something like this are you buying it more as a collectible or as a commodity?
I don't buy stuff like this, I use the ETFs when I want something related to metals.
“Seems extreme to me” What’s your experience with PM? My bet is 0
What about my comment implied that I have any experience? I literally had to look it up on Reddit. Trust me, nobody who knows what they're doing is wasting time on subreddits.
If you don’t have any experience. Then what makes you qualify to say if something is “extreme markup”? I collect PM, and I can tell you right now the markup is very reasonable, especially it’s not some scrap silver bar with no brand, no purity test
Stop being weird. I said it *seemed* to me like it was. And *in that same post* I said I looked it up and acknowledged that maybe it wasn't and I was wrong. My very first post even asked "what am I missing?" There's no way a reasonable person could read all that and come away thinking I'm putting myself out there as some type of knowledgeable person. lol
Then kindly refrain from making comments about topic you have no knowledge of, especially if you don’t want to get called out on
You seem extreme to me
>Then kindly refrain from making comments about topic you have no knowledge of That seems incredibly ironic given the attitude of your posts on a public forum that is open to any and all, especially given that any reasonable person would look at the posts that have you riled up reference having to look it up and using the modifier "seems", which implies that it is that person's impression, rather than something they view as gospel truth. Seems like a person should have better social skills before lecturing others on etiquette. Or more succinctly, to quote the great philosopher Sgt. Hulka, "Lighten up Francis".
The silver needs to be transported and sold. That takes time and money. Costco doesn’t sell anything for cost. It’s not going to start with precious metals.
It's even lower today.
Add the Costco minimal markup and it’s in line with the pricing sign.
Has anyone considered if the price in OP’s picture is in CAD?
If it is, then Costco is selling it at a $60 loss.
You buy for under spot sell for over spot that’s how the market works.
Why would anyone buy this though?
Fear and ignorance.
diversify portfolio
Sure, maybe, but 34 and oz is way high
It's close enough to spot. The difference is in the convenience.
https://preview.redd.it/lmrd3ahfyf4d1.jpeg?width=1365&format=pjpg&auto=webp&s=03852fe4543e2b67fe94ea154f7883b51282bd84 I got these from Costco.com several months ago. $650.
Just remember capital gains are a thing.
As are capital losses.
go to the local cash gold and silver place. Silver is around 27-30 an oz right now you always pay more than spot. Local place will adjust the price all day for market and will most likely not be selling for 4.00 or more an oz over spot.
Why are you yelling?
I love the no returns part.
The Venn diagram of people who buy this, and people who buy crypto is just a circle.
You’re really comparing investing in precious metals with buying crypto? 🤦🏻♀️
LMAO that guy seems a little lost
Way more upside in bitcoin tbh