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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 me…..
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 06:05 PM
137 Posts
Joined Aug 2010
postitnoteFeb 18, 2024 06:05 PM
137 Posts
Gold is a kind of insurance, a hedge against currency devaluation. Like most insurance, you are protecting against a scenario that you do not want. But you would be glad that you have it.
2
Feb 18, 2024 06:14 PM
59 Posts
Joined Aug 2018
ariez84Feb 18, 2024 06:14 PM
59 Posts
never understood gold as an investment; so many other assets that gives a much better return. Other than the "i can actually touch it" part.
4
Feb 18, 2024 06:16 PM
74 Posts
Joined Dec 2019
SearchingDeals2Feb 18, 2024 06:16 PM
74 Posts
Quote from SmartTerrier6492 :
Good. Price should go up. I can make stupid comments too.
Haha exactly
Feb 18, 2024 06:17 PM
9,300 Posts
Joined Nov 2008
LanmannaFeb 18, 2024 06:17 PM
9,300 Posts
Quote from ariez84 :
never understood gold as an investment; so many other assets that gives a much better return. Other than the "i can actually touch it" part.
"It's pretty to look at and it's tangible."
1
Feb 18, 2024 06:18 PM
74 Posts
Joined Dec 2019
SearchingDeals2Feb 18, 2024 06:18 PM
74 Posts
Quote from ariez84 :
never understood gold as an investment; so many other assets that gives a much better return. Other than the "i can actually touch it" part.
And that's appealing to many smart people
3
Feb 18, 2024 06:18 PM
122 Posts
Joined Nov 2007
kev24kFeb 18, 2024 06:18 PM
122 Posts
Here is the opinion no one asked for; gold is useless unless you need it to produce something. Nobody will accept it as payment. It will sit in your drawer or safe for "in case the world collapses I'll have gold." No, you won't. It will be stolen from you after the roving groups of armed sociopaths murder you and your family. No, guns and ammo won't help. You will be outgunned and outnumbered.

Instead, opt for a tank of nitrogen gas. You will go to sleep painlessly and that is all. It's the only and ultimate prepper item.
2
Feb 18, 2024 06:20 PM
59 Posts
Joined Aug 2018
ariez84Feb 18, 2024 06:20 PM
59 Posts
Quote from SearchingDeals2 :
And that's appealing to many smart people
I would use the term 'paranoid' but sure.
2

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Feb 18, 2024 06:30 PM
27 Posts
Joined Jan 2017
chulain519Feb 18, 2024 06:30 PM
27 Posts
Two contrary perspectives:
1. We are 25 years away from a full societal breakdown predicted in the MIT study in the 1960's and recently verified as being fully on track with data from last 50 years. In this case all fiat currencies will collapse and gold will become super valuable as tradeable asset.
2. Someone will manage to mine the asteroid worth $10,000 quadrillion USD and all precious metals prices will instantly collapse!
BTW the main reason gold is not worth much more is rampant government manipulation, especially by the US.
1
Feb 18, 2024 06:36 PM
20 Posts
Joined Sep 2022
WittyOctopus6741Feb 18, 2024 06:36 PM
20 Posts
Quote from Pga :
Gold has never followed inflation. This chart easily proves that:
https://www.macrotrends.net/1333/...year-chart

Please stop spreading alternative facts.
looks like if I bought gold in 2000 then I would be doing pretty well? Is inflation up 3.5x since 2000?
Pro
Feb 18, 2024 06:38 PM
5,364 Posts
Joined Apr 2006
echostorm
Pro
Feb 18, 2024 06:38 PM
5,364 Posts
Lol, sales tax kills this deal -- just invest in gold on the markets, at least you don't get taxed to purchase it, only on your capital gains
1
Feb 18, 2024 06:38 PM
1,417 Posts
Joined Apr 2020
indelibleFeb 18, 2024 06:38 PM
1,417 Posts
Quote from Hotwheel :
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.
Hysa isn't regular savings? That's the only savings account I have
Feb 18, 2024 06:39 PM
300 Posts
Joined Aug 2011
Cintel7Feb 18, 2024 06:39 PM
300 Posts
Gold is not a hedge on your USD, might be for other currencies. Buy something else for investment. It looks nice and you can barter with others when SHTF happens. Personally, when SHTF happens, others metals will have higher values, such as the ones in your ammos. Now if you have both gold and ammos, then you are all set.
2
Pro
Feb 18, 2024 06:39 PM
5,364 Posts
Joined Apr 2006
echostorm
Pro
Feb 18, 2024 06:39 PM
5,364 Posts
Quote from chulain519 :
Two contrary perspectives:
1. We are 25 years away from a full societal breakdown predicted in the MIT study in the 1960's and recently verified as being fully on track with data from last 50 years. In this case all fiat currencies will collapse and gold will become super valuable as tradeable asset.
2. Someone will manage to mine the asteroid worth $10,000 quadrillion USD and all precious metals prices will instantly collapse!
BTW the main reason gold is not worth much more is rampant government manipulation, especially by the US.
Agree on the asteroid caveat - precious and rare earth metals are just that, rare for earth, could be common somewhere else and then pop! the metal and mineral market collapses instantly
1
Pro
Feb 18, 2024 06:44 PM
788 Posts
Joined Oct 2020
jcnix
Pro
Feb 18, 2024 06:44 PM
788 Posts
Quote from Pga :
That narrative fails the critical thinking test at one obvious juncture: so the global powerhouse, aka USA, collapses but the countries that depend on it will keep on trucking and will have demand for gold and silver like nothing has happened?
Well said, but I think the fear was that the US loses powerhouse status and someone like Russia, China, or India takes the top spot. The rest of the world is likely to go where the money is.

The easiest current world example would be Argentina. Gold is up 20,000% or something in the last 4 years.

https://goldbroker.com/charts/gol...ical-chart

I have consultants there and even though we pay them in dollars, the government intercepts the funds and converts it to Arg pesos at whatever rate it feels like. I'm sure they all wish they had bought precious metals 5+ years ago.

Again, a LOT of things would have to go wrong before the US would descend to that level, but that's the type of fear that drives people to PM.
2

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Feb 18, 2024 06:46 PM
17 Posts
Joined Jul 2017
mfilippo10Feb 18, 2024 06:46 PM
17 Posts
Quote from MrCodeDude :
Seems like a decent MS opportunity. How/where do you then sell the 1oz gold bars?
Local gold shops. They usually buy for spot to $10 under spot. My shop is literally on the way to work and it's a 5 minute transaction to get the check

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