Costco Wholesale has for its
Members:
1 Troy Ounce Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay) for
$2069.99.
Shipping is free.
Thanks community member
chemman14 for sharing this deal
Note, you must be an active Costco Member signed into your account to view sale price and purchase. Limit of 2 per membership. Item is non-refundable. Item is not eligible for price adjustments.
About this Product:
- 1 Troy Ounce 999.9 fine gold minted bar with a proof-like finish
- Swiss-made by a LBMA Good Delivery Refiner
- VERISCAN Bullion Identification Security System & iPhone App
- Carbon Neutral certified by the Carbon Trust in accordance with the international PAS 2060 Carbon Neutrality Standard, identified by a 'footprint' label
- Each bar is individually controlled, registered, and secured within protective CertiPAMP packaging with an official Assay Certificate and a digital certificate accessed with a QR Code. Each assay card is covered with a thin removable protective film
Veriscan Technology:
- PAMP Suisse's exclusive Veriscan technology uses the metal's microscopic topography, like a fingerprint, to identify any registered product, aiding in the detection of counterfeits. Each bar is scanned upon production and when scanned by the customer, is further verified by the Veriscan database. Veriscan is available as a creative and convenient mobile app, or as a PC software system for use with a traditional document scanner and the PAMP bullion-positioning frame.
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Top Comments
Sometimes I wish Costco wasn't so lenient and stood firm a little. You're just taking advantage.
Something like this being shipped and Costco wouldn't have double and triple checks in place to ensure the product is going out correctly?
And they are shipping overnight with signature required via UPS. I know sometimes the delivery person might be faking a customer's signature and leaving it at the door but that's not the norm.
104 Comments
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Also, why would they buy your gold at the same price they could buy gold from a reputable gold source? Yeah, I can buy gold from some guy off the street or a business that guarantees weight/purity for the exact same price. I think I'm gonna help this random dude out because he is acting the part.
To Echo SlySol, you clearly aren't familiar with gold markets so I don't get why you come in here speaking as though you have any idea what you are talking about?
2nd, not only is there no dealer who sells at spot, no dealer takes CREDIT CARD at 0% fee for payment.
3rd, theres no dealer on this planet that has an in-house executive gold buyer reward system that gives you 2% cash back on-top of allowing you to pay with the credit card of your choice.
As for me and my "method" of acting the part, I'm bringing 20 ounces of gold per month to him and he knows EXACTLY where im getting it from, I even told him after I negotiated spot pricing the first couple sales, because what does it matter to me, he can't get enough of it on his own anyway he will still buy from me.
For me, I get Pamp bars dirt cheap, get 2% executive rewards at costco, and either AA Miles/Loyalty Points or I use my BOA 2.625% cashback. From a purely cashback perspective, I'm getting 4.625% cashback. I'm in the green or even all day every day.
Do the math, for ease of calculation I'm using purely cashback to calculate as everyone values miles/status differently:
$2,069.99 for 1oz Spot Pamp
-$95.74 (4.625% cashback)
=$1974.25 NET COST delivered to my door.
CURRENT SPOT PRICE: $2037.40
If I sell at a 2% under spot = I'm still in the green.
What's so confusing about this? Nobody is getting filthy rich here, and I'm not doing it for purely cashback, honestly wouldn't be worth my time, but those AA miles and Executive Platinum status for my flights sure as hell is when I take a flight to Tokyo for free in business for 60k miles.
How I see it is 14 Costco Orders and drop offs to my gold dealer = 1 Business Class Ticket to Tokyo and Executive Platinum Status. How others see it that don't naturally spend a lot, a free/cheap way to get CC bonuses, bonus spending categories etc. for very little work.
1) This is on a credit card, so its free money. No money is being allocated that could be better allocated in the markets. I can't buy stocks with my credit card limits. If I had to wire for the gold like u do with most dealers, then yes, terrible ROI.
That's the magic sauce here, Credit Card accepted at 0% fee and an additional free 2% reward from coscto to boot. Can't buy gold anywhere else on a credit card with 0% fee/markup, prove me wrong.
2) This isn't a ROI get rich quick scheme play. It's purely CC churning with minor profits to get Miles/Status/CC Bonuses etc.
1) This is on a credit card, so its free money. No money is being allocated that could be better allocated in the markets. I can't buy stocks with my credit card limits. If I had to wire for the gold like u do with most dealers, then yes, terrible ROI.
That's the magic sauce here, Credit Card accepted at 0% fee and an additional free 2% reward from coscto to boot. Can't buy gold anywhere else on a credit card with 0% fee/markup, prove me wrong.
2) This isn't a ROI get rich quick scheme play. It's purely CC churning with minor profits to get Miles/Status/CC Bonuses etc.
You can get 2-3X that cashback just buying your everyday stuff online…
You can get 2-3X that cashback just buying your everyday stuff online…
This is getting 20-30k a month in manufactured spend that cycles through a credit card limit that otherwise sits dormant netting me and others 2% cash back and 20-30k a month in miles and status perks and all I have to do is walk into my local dealer once a month and drop it off, I use $0 of my money and payoff my credit card with the proceeds and repeat. This has nothing to do with ROI.
This is getting 20-30k a month in manufactured spend that cycles through a credit card limit that otherwise sits dormant netting me and others 2% cash back and 20-30k a month in miles and status perks and all I have to do is walk into my local dealer once a month and drop it off, I use $0 of my money and payoff my credit card with the proceeds and repeat. This has nothing to do with ROI.
All you are doing is buying just to re-sell it at overall profit.
So ROI is rather fundamental concept in flipping. And 0-4.6% is horrible RIO on $2k
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You do know they release a mix of bars, coins, and sizes right? I'm easily clearing 20k a month. I'm Executive Platinum on AA with 780k loyalty points this year thanks to this. I don't think I can do that with $100 bulky lawn mowers.
Sometimes they release bars worth $6300, so one order alone is $12k, with the average order being $4200 at least 5-6 times a month on the low end you do the math, I'm doing 20k a month with my eyes closed I'm blowing past that.
So in your example, I can buy 60 huge mowers put them all over my house (assuming I can even buy 60 of them) and then become an eBay mower reseller and make a bunch of trips to the ups store to ship them? I mean it sounds like a great setup for a low income gig earner for a side hustle I guess but that's a shit ton of work and storage space.
I'm putting 20k+ sometimes over 30k worth of tiny little gold bars delivered to my house and then I drop them off at one place once a month and all 20-30k++ worth fit inside my tiny Fanny pack…. Talking about ROT, "return on time" compared to those lawn mowers. I hope you rented a U-Haul for the month and a storage unit so your wife doesn't kill you for having lawn mowers in the kitchen pantry!!
I'm signing off, it was fun, but your examples are ridiculous and you have no bearing on either the gold markets or the Costco gold sales, because I'm easily clearing $20,000 USD in gold and many are too.
Let's review your claim that you "earned" 780k points on "$20-30k" a month Costo Gold purchases..... At maximum you could have earned 360k points in a year since AA Loyalty points are 1 per $1 spent. Unless you have your loyal points scattered around on dozens on cards in order to get multiple MIN spend into offers. Utility of those points become pretty poor at that point as you cannot combine them to say get free vacation in Hawaii. You end up having to spend money to use those points, making it even poorer deal that the 0-4.6% ROI you were proposing earlier.
So I suspect if you aren't honest about what flipping Gold for points or cashback, and you cannot do both in a single transaction, you aren't honest about being able to get 20-30k gold from Costco. Everyone likes to boast and make wild claims on the internet.
You do know they release a mix of bars, coins, and sizes right? I'm easily clearing 20k a month. I'm Executive Platinum on AA with 780k loyalty points this year thanks to this. I don't think I can do that with $100 bulky lawn mowers.
Sometimes they release bars worth $6300, so one order alone is $12k, with the average order being $4200 at least 5-6 times a month on the low end you do the math, I'm doing 20k a month with my eyes closed I'm blowing past that.
So in your example, I can buy 60 huge mowers put them all over my house (assuming I can even buy 60 of them) and then become an eBay mower reseller and make a bunch of trips to the ups store to ship them? I mean it sounds like a great setup for a low income gig earner for a side hustle I guess but that's a shit ton of work and storage space.
I'm putting 20k+ sometimes over 30k worth of tiny little gold bars delivered to my house and then I drop them off at one place once a month and all 20-30k++ worth fit inside my tiny Fanny pack…. Talking about ROT, "return on time" compared to those lawn mowers. I hope you rented a U-Haul for the month and a storage unit so your wife doesn't kill you for having lawn mowers in the kitchen pantry!!
I'm signing off, it was fun, but your examples are ridiculous and you have no bearing on either the gold markets or the Costco gold sales, because I'm easily clearing $20,000 USD in gold and many are too.
you were right. his examples are pretty terrible. $200 lawnmowers!!!!
For resale value, is it important to keep it in the package? I'm thinking of an investment/fidget use case. Possibly an expensive and idiotic idea, but it's heavier than Tungsten and holds its value. Assuming it's not stolen first....
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1st, There's not a dealer on this planet that sells PAMP fortuna bars at spot. If so, let me know who and where.
2nd, not only is there no dealer who sells at spot, no dealer takes CREDIT CARD at 0% fee for payment.
3rd, theres no dealer on this planet that has an in-house executive gold buyer reward system that gives you 2% cash back on-top of allowing you to pay with the credit card of your choice.
Uhh, Gold dealers can't go to Costco like we all do and place a large pamp order because you can only order 2 per person, nor do they buy in large quantities enough to contact refineries (ie:costco) to buy in bulk to not have to buy from people like us.
As for me and my "method" of acting the part, I'm bringing 20 ounces of gold per month to him and he knows EXACTLY where im getting it from, I even told him after I negotiated spot pricing the first couple sales, because what does it matter to me, he can't get enough of it on his own anyway he will still buy from me.
For me, I get Pamp bars dirt cheap, get 2% executive rewards at costco, and either AA Miles/Loyalty Points or I use my BOA 2.625% cashback. From a purely cashback perspective, I'm getting 4.625% cashback. I'm in the green or even all day every day.
Do the math, for ease of calculation I'm using purely cashback to calculate as everyone values miles/status differently:
$2,069.99 for 1oz Spot Pamp
-$95.74 (4.625% cashback)
=$1974.25 NET COST delivered to my door.
CURRENT SPOT PRICE: $2037.40
If I sell at a 2% under spot = I'm still in the green.
What's so confusing about this? Nobody is getting filthy rich here, and I'm not doing it for purely cashback, honestly wouldn't be worth my time, but those AA miles and Executive Platinum status for my flights sure as hell is when I take a flight to Tokyo for free in business for 60k miles.
How I see it is 14 Costco Orders and drop offs to my gold dealer = 1 Business Class Ticket to Tokyo and Executive Platinum Status. How others see it that don't naturally spend a lot, a free/cheap way to get CC bonuses, bonus spending categories etc. for very little work.
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