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expiredZim1 posted Feb 18, 2024 01:49 AM
expiredZim1 posted Feb 18, 2024 01:49 AM

Costco Members: 1 Troy Ounce 2024 Canada Maple Leaf Gold Coin (New In Assay)

+ Free Shipping

$2,070

Costco Wholesale
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Deal Details
Costco Wholesale has for their Members: 1 Troy Ounce 2024 Canada Maple Leaf Gold Coin (New In Assay) for $2069.99. Shipping is free.

Thanks to community member zimba1 for finding this deal.

Features:
  • 1 Troy Ounce 999.9 fine gold minted coin
  • Made by a LBMA Good Delivery Refiner
  • Bullion DNA Anti-Counterfeiting Technology, exclusive to the Royal Canadian Mint
  • Arrives in a Costco-exclusive sealed assay card

Editor's Notes

Written by qwikwit | Staff
  • Limit of 1 Transaction Per Membership, with a Maximum of 2 Units.
  • This item is not eligible to be returned or refunded.
  • Item is not eligible for price adjustments.
  • Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.

Original Post

Written by Zim1
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Costco Wholesale has for their Members: 1 Troy Ounce 2024 Canada Maple Leaf Gold Coin (New In Assay) for $2069.99. Shipping is free.

Thanks to community member zimba1 for finding this deal.

Features:
  • 1 Troy Ounce 999.9 fine gold minted coin
  • Made by a LBMA Good Delivery Refiner
  • Bullion DNA Anti-Counterfeiting Technology, exclusive to the Royal Canadian Mint
  • Arrives in a Costco-exclusive sealed assay card

Editor's Notes

Written by qwikwit | Staff
  • Limit of 1 Transaction Per Membership, with a Maximum of 2 Units.
  • This item is not eligible to be returned or refunded.
  • Item is not eligible for price adjustments.
  • Get 1%-5% cash back on deals like this with a cash back credit card. Compare the available cash back credit cards here.

Original Post

Written by Zim1

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Top Comments

Dalsweeper
188 Posts
65 Reputation
Most jewelers will buy it. But at about 90-95 percent of the spot price. So it needs to appreciate to break even.

I love when people say, "if the dollar goes to shit I'll have gold". That's a useless comment too, what are they planning on doing, buy some food, cut off a piece of their gold and exchange for it? My guess is the other side of the transaction will think you are crazy.
Dalsweeper
188 Posts
65 Reputation
You are so wrong it's hilarious. Look at gold compared to inflation throughout time and you will see it is a bad investment. Gold as a hedge has been proven to be economically inefficient by several Nobel laureates. I am sure you have a Reddit page saying otherwise. But who am I to argue on the internet with someone obviously smarter than meโ€ฆ..
Dalsweeper
188 Posts
65 Reputation
You are right. But $1000 in the s&p 500 would be over $4000 today. So you could buy about 2x more if you did not invest in gold. So you may not a Nobel prize winner but even easy math shows you could have been better.

155 Comments

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Feb 18, 2024 03:41 PM
946 Posts
Joined Mar 2014
HotwheelFeb 18, 2024 03:41 PM
946 Posts
Quote from arnesto :
What is the scenario where this coin will be useful? One day you are broke, have no cash, and you sell this coin at a jeweler?
Wouldn't it be better to put $2k in cash into a savings account and use that money when you need it?
Regular savings account is the most worst place to park your money. In case you want to park money, use HYSA. Gold has been traditionally used as fiat alternative due to low volatility.
1
Feb 18, 2024 03:42 PM
188 Posts
Joined Dec 2017
DalsweeperFeb 18, 2024 03:42 PM
188 Posts
Quote from EdwardK1919 :
Since last crisis in 2009, gold was $900 and now is $2,000
Pretty much everything doubled in price.
It is doing fine hedging against inflation
โ€‹Disclosure: Because I don't have a nobel prize, I have to do my own shopping.
You are right. But $1000 in the s&p 500 would be over $4000 today. So you could buy about 2x more if you did not invest in gold. So you may not a Nobel prize winner but even easy math shows you could have been better.
3
Feb 18, 2024 03:44 PM
215 Posts
Joined Nov 2013
EdwardK1919Feb 18, 2024 03:44 PM
215 Posts
Quote from Dalsweeper :
You are right. But $1000 in the s&p 500 would be over $4000 today. So you could buy about 2x more if you did not invest in gold. So you may not a Nobel prize winner but even easy math shows you could have been better.
You could lose all they way to $1000 during during the next market crash.
8
Feb 18, 2024 03:47 PM
10 Posts
Joined Oct 2019
SmartTerrier6492Feb 18, 2024 03:47 PM
10 Posts
Quote from singhster :
Not good. Price should come down.
Good. Price should go up. I can make stupid comments too.
Feb 18, 2024 03:48 PM
188 Posts
Joined Dec 2017
DalsweeperFeb 18, 2024 03:48 PM
188 Posts
Quote from EdwardK1919 :
You could lose all they way to $1000 during during the next market crash.
And gold can crash too. What's your point? You picked two random points in time, I used the same dates and had double the return. Markets and commodities are not safe and volatile. They will go up and down. Historically stocks have done exponentially better.
5
Feb 18, 2024 03:58 PM
8,006 Posts
Joined Oct 2004
VarmintCongFeb 18, 2024 03:58 PM
8,006 Posts
Quote from EdwardK1919 :
You could lose all they way to $1000 during during the next market crash.
It's called risk/return, don't bother trying to explain it to him. It's the reason central banks bought 1000 tons of gold last year and zero stocks. Well except for the Japanese central bank, they buy stocks. ๐Ÿ˜†
3
Feb 18, 2024 04:00 PM
2,080 Posts
Joined Dec 2012
PgaFeb 18, 2024 04:00 PM
2,080 Posts
Quote from EdwardK1919 :
Since last crisis in 2009, gold was $900 and now is $2,000
Pretty much everything doubled in price.
It is doing fine hedging against inflation
โ€‹Disclosure: Because I don't have a nobel prize, I have to do my own shopping.
Gold has lost value to inflation in last decade. Stop cherry picking price point data to fit your narrative.
3

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Feb 18, 2024 04:01 PM
258 Posts
Joined Feb 2024
SlickerdealerzFeb 18, 2024 04:01 PM
258 Posts
Ahhhh these gold posts always turn into the argument for better or worse.
Can we focus on the deal please? it is the best deal you can find today buying from a reputable seller with credit card, now can you find a better deal tomorrow or next week? Yes? Sure post it then.
If you like it buy it and if you don't, fine then move on.
Why is buying gold has to be so black and white, or all or nothing?
1
Feb 18, 2024 04:01 PM
8,006 Posts
Joined Oct 2004
VarmintCongFeb 18, 2024 04:01 PM
8,006 Posts
Quote from LavenderBird5591 :
From a political standpoint, there is more certainty than the last two years. The price of gold should drop.
Would love to hear more about this. ๐Ÿ˜†
2
Feb 18, 2024 04:02 PM
2,080 Posts
Joined Dec 2012
PgaFeb 18, 2024 04:02 PM
2,080 Posts
Quote from EdwardK1919 :
You could lose all they way to $1000 during during the next market crash.
And same is said for gold. The post-1980 gold crash was tremendous!
Last edited by Pga February 18, 2024 at 10:05 AM.
3
Feb 18, 2024 04:03 PM
8,006 Posts
Joined Oct 2004
VarmintCongFeb 18, 2024 04:03 PM
8,006 Posts
Quote from Pga :
Gold has lost value to inflation in last decade. Stop cherry picking price point data to fit your narrative.
Cherry picking is looking at the last decade. Gold went up 700% from 2000 to 2011. So it's doing just fine against inflation.
2
Feb 18, 2024 04:04 PM
2,080 Posts
Joined Dec 2012
PgaFeb 18, 2024 04:04 PM
2,080 Posts
Quote from VarmintCong :
It's called risk/return, don't bother trying to explain it to him. It's the reason central banks bought 1000 tons of gold last year and zero stocks. Well except for the Japanese central bank, they buy stocks. ๐Ÿ˜†
Western Central Banks aren't buying gold. Russian, Chinese central banks are the big buyers of gold. Makes you wonder why the two most corrupt gov are buying gold? Maybe because it's east to make it disappear, hmmm
3
Feb 18, 2024 04:05 PM
8,006 Posts
Joined Oct 2004
VarmintCongFeb 18, 2024 04:05 PM
8,006 Posts
Quote from Pga :
And said is said for gold. The post-1980 gold crash was tremendous!
You mean 1980, after gold went from $35 to $850 in 9 years?

Yeah if you were stupid enough to buy gold in 1980, after it went up 2500%, you got waxed. ๐Ÿ˜‚
1
Feb 18, 2024 04:07 PM
2,080 Posts
Joined Dec 2012
PgaFeb 18, 2024 04:07 PM
2,080 Posts
Quote from VarmintCong :
Cherry picking is looking at the last decade. Gold went up 700% from 2000 to 2011. So it's doing just fine against inflation.
From 1980-2000 gold had a huge crash vs inflation.

From 2012-now gold had crash vs inflation.

So in last 44 years, gold has lost to inflation ~34 of those years. Or ~77% of the time.
Last edited by Pga February 18, 2024 at 10:05 AM.
3

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Feb 18, 2024 04:10 PM
2,080 Posts
Joined Dec 2012
PgaFeb 18, 2024 04:10 PM
2,080 Posts
Quote from VarmintCong :
You mean 1980, after gold went from $35 to $850 in 9 years?

Yeah if you were stupid enough to buy gold in 1980, after it went up 2500%, you got waxed. ๐Ÿ˜‚
Try to rationalize however you want. The false narrative is that gold protects against inflation. It's patently false as even you here admit soโ€ฆ..by want to make some excuses for it.
1
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