Costco is Selling Out of Gold Bars

 I don’t think we need to remind you that REAL ASSETS increase in value when the government continues creating money out of thin air.  Folks begin to realize that the money they have sitting in their bank accounts is actually losing purchasing power so they look for some other asset that they hope will hold its value.  Gold is one of those places.  But we need to remind you that owning gold was illegal in the USA from the 1930’s to the 1970’s.  The government passed a law and took everyone’s gold.  I’m guessing it will happen again.

On April 5, 1933, U.S. President Franklin Delano Roosevelt signed Executive Order 6102, which forbade “the hoarding of gold coins, gold bullion, and gold certificates within the continental United States.”

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Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars.

Wait, gold bars?

Yes, the retail warehousing giant is your one-stop shop for 1 ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase.

They’re available for the bargain price of … well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold most recently was going for $1,876.56 an ounce as of Wednesday afternoon.

Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from Costco Chief Financial Officer Richard Galanti. Speaking on the company’s quarterly earnings call, Galanti said the bars are in hot demand and don’t last long when in stock.

“I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” he said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.

https://www.cnbc.com/2023/09/27/costco-is-selling-gold-bars-and-they-are-selling-out-within-a-few-hours.html?recirc=taboolainternal