Costco Offer:2024 1 oz Canada Maple Leaf Gold Coin - $2349.99
$2,349.99
+15Deal Score
7,641 Views
Features:
1 oz 999.9% Fine Gold Minted Coin
Item is Non-Refundable
Limit of 1 Transaction Per Membership, with a Maximum of 5 Units
Item is Not Eligible for Price Adjustments
It's already $100 less than two other metals dealers and that does not include cash back. Compared to dealers Costco is not making as much because they are selling at a profit related to their purchase price while dealers are only going by the spot now.
It's already $100 less than two other metals dealers and that does not include cash back. Compared to dealers Costco is not making as much because they are selling at a profit related to their purchase price while dealers are only going by the spot now.
You can see what other bullion dealers are selling it for here:
It's already $100 less than two other metals dealers and that does not include cash back. Compared to dealers Costco is not making as much because they are selling at a profit related to their purchase price while dealers are only going by the spot now.
So, Costco is making money on gold by adding premium to their original purchase price. Did I understand this correctly? This is a terrible gamble. It is my understanding that gold dealers make their money from the buy and sell spread.
So, Costco is making money on gold by adding premium to their original purchase price. Did I understand this correctly? This is a terrible gamble. It is my understanding that gold dealers make their money from the buy and sell spread.
Bullion dealers (and I'm sure Costco too) sell short positions immediately opposite their long position of buying the physical metal, thereby locking in a profit regardless if the spot price goes up or down.
Think of it like how bookies make money by taking bets from both sides.
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$2,349.99
- 47.00 2% cashback Costco Exec membership
- 47.00 2% cashback Costco Citi VISA
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= $2,255.99
Spot is currently... $2,318.75
With the cashback rewards it's currently -$62.76 **UNDER** spot
Quick! Downvote the heck out of it!
Downvote because you don't understand math!
Math is hard!!
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https://findbullionpric
Dumbest comment I have ever read
Think of it like how bookies make money by taking bets from both sides.