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expired Posted by chemman14 • Jun 4, 2024
expired Posted by chemman14 • Jun 4, 2024

Costco Members: 2024 1 oz Canada Maple Leaf Silver Coin, 25-count $799.99

$800

Costco Wholesale
27 Comments 9,348 Views
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Deal Details
Features:
99.99% Pure Silver
Item is Non-Refundable
Limit of 1 Transaction Per Membership, with a Maximum of 5 Units
Item is Not Eligible for Price Adjustments


Product Details
Item may be available in your local warehouse for a lower, non-delivered price.


Coin Highlights:
1 troy ounce of 99.99% pure silver
Bullion DNA™ Anti-Counterfeiting Technology, exclusive to the Royal Canadian Mint
Brilliant uncirculated finish
Packaged in a specially labeled tube holding 25 Coins per tube
Terms & Conditions
Item is non-refundable
Item is not eligible for price adjustments

https://www.costco.com/.product.1814000.html
Product Info
Community Notes
About the Poster
Deal Details
Product Info
Community Notes
About the Poster
Features:
99.99% Pure Silver
Item is Non-Refundable
Limit of 1 Transaction Per Membership, with a Maximum of 5 Units
Item is Not Eligible for Price Adjustments


Product Details
Item may be available in your local warehouse for a lower, non-delivered price.


Coin Highlights:
1 troy ounce of 99.99% pure silver
Bullion DNA™ Anti-Counterfeiting Technology, exclusive to the Royal Canadian Mint
Brilliant uncirculated finish
Packaged in a specially labeled tube holding 25 Coins per tube
Terms & Conditions
Item is non-refundable
Item is not eligible for price adjustments

https://www.costco.com/.product.1814000.html

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27 Comments

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Pro
Jun 5, 2024
2,272 Posts
Joined Nov 2010
Jun 5, 2024
MasterRigger
Pro
Jun 5, 2024
2,272 Posts
Quote from thegoob143 :
I'll ask again, what are people doing with these?

Hypothetically silver goes up, where do you sell it? Pawn shop won't give value, any other ideas??
There is a old saying. The Border Guards do not accept paper money.
Jun 5, 2024
261 Posts
Joined Oct 2014
Jun 5, 2024
Master_of_None
Jun 5, 2024
261 Posts
I will wait for silver to drop back under $20 an ounce. The highest ever recorded was ~$40 an ounce. Not knowing who will be next prez in November makes this a bad buy at $32 per ounce. That is unless something catastrophic happens and we only trade in precious metals.
2
Jun 5, 2024
6,229 Posts
Joined Mar 2005
Jun 5, 2024
PedroR
Jun 5, 2024
6,229 Posts
Triggered my Maple Syrup alert
1
1
Jun 5, 2024
10,296 Posts
Joined Sep 2014
Jun 5, 2024
ash78
Jun 5, 2024
10,296 Posts
Quote from EagerDeer423 :
If you can find a way to buy precious metals at spot, please let us know. There is almost always a markup so the sellers have a way to make money. The only exception I've seen was a promotion on JM Bullion to make your first purchase with them at spot. Similarly, when you go to a gas station, you don't buy gasoline at the barrel price. There is a markup.
All fair points, but gasoline has actual utility. That said, even investing in most funds will cost you some management fee.

I've just stayed away from metals because the transaction costs on both ends.

Another thought is that the numismatic/ collector value of of a stamped coin should almost always be higher than the raw material.
Jun 5, 2024
19 Posts
Joined Nov 2018
Jun 5, 2024
EagerDeer423
Jun 5, 2024
19 Posts
Quote from ash78 :
All fair points, but gasoline has actual utility. That said, even investing in most funds will cost you some management fee.

I've just stayed away from metals because the transaction costs on both ends.

Another thought is that the numismatic/ collector value of of a stamped coin should almost always be higher than the raw material.
I definitely get that sentiment and frankly I didn't bite on this offer. Money market and CD rates are so high now, I'd rather use that money to earn compounding interest. Btw, silver is used in solar panels and some space tech, so it does have some utility imo
Jun 6, 2024
10,296 Posts
Joined Sep 2014
Jun 6, 2024
ash78
Jun 6, 2024
10,296 Posts
Quote from EagerDeer423 :
I definitely get that sentiment and frankly I didn't bite on this offer. Money market and CD rates are so high now, I'd rather use that money to earn compounding interest. Btw, silver is used in solar panels and some space tech, so it does have some utility imo
Yep, 100% with the industrial uses (why I've leaned toward silver over gold) but just from a consumer POV, you're not going to be getting phone calls from First Solar begging to pay you spot prices for your Costco silver Wink
Jun 6, 2024
17 Posts
Joined Dec 2019
Jun 6, 2024
TheSilverLine
Jun 6, 2024
17 Posts
Quote from DoctorAwesome :
Dumb question - why do the Maple Leaf coins seemingly cost more than the Eagles (or other non-Maple Leaf) coins?
It seems that way, but there are 25 Silver Maples in the tube, but there are only 20 Silver Eagles in the tube.

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Jun 6, 2024
200 Posts
Joined Nov 2019
Jun 6, 2024
StankNasty411
Jun 6, 2024
200 Posts
Quote from SamW5482 :
Can someone enlighten me? How is this a deal? Current silver value for ounce is 29.87 so multiply by 25 which gives us $746.75....while this post value is $799..considering 2 % cash back it's going to be $783 which is still greater than todays market price
Because spot gold/silver is the cost of 100 oz gold bars, not 1 ounce gold coins. It's far more expensive to turn a gold bar into a gold coin. And again, the "spot" gold price reflect what 1 oz of gold is worth, but it's derived from a 100 oz gold bar contract, so it's also a volume thing. 100 1 oz gold bars will be more expensive than one 100 oz gold bar. And 1 oz gold coin is more expensive than 1 oz gold bar. Coins are more desirable and cost more to make than a basic bar.
Jun 6, 2024
200 Posts
Joined Nov 2019
Jun 6, 2024
StankNasty411
Jun 6, 2024
200 Posts
Quote from thegoob143 :
I'll ask again, what are people doing with these?

Hypothetically silver goes up, where do you sell it? Pawn shop won't give value, any other ideas??
You might as well ask who buys used clothes, or used kitchenware, etc.? You have entire online marketplaces where people buy/sell/trade everything. You could literally post it online and it'd be purchased above spot. Perhaps even above what you paid even if the market stayed the same.
1
Jun 6, 2024
747 Posts
Joined Nov 2020
Jun 6, 2024
DoctorAwesome
Jun 6, 2024
747 Posts
Quote from TheSilverLine :
It seems that way, but there are 25 Silver Maples in the tube, but there are only 20 Silver Eagles in the tube.
ahh - thanks - I didnt even catch that!
Original Poster
Jun 7, 2024
1,501 Posts
Joined Dec 2018
Jun 7, 2024
chemman14
Original Poster
Jun 7, 2024
1,501 Posts
Quote from EagerDeer423 :
I definitely get that sentiment and frankly I didn't bite on this offer. Money market and CD rates are so high now, I'd rather use that money to earn compounding interest. Btw, silver is used in solar panels and some space tech, so it does have some utility imo
The real hack is buying these from Costco with a 0% Apr credit card. Then taking that cash and buying a T bill for the apr period. Then you have two appreciating assets.
1
Jun 14, 2024
7,849 Posts
Joined Oct 2004
Jun 14, 2024
VarmintCong
Jun 14, 2024
7,849 Posts
Quote from Master_of_None :
I will wait for silver to drop back under $20 an ounce. The highest ever recorded was ~$40 an ounce. Not knowing who will be next prez in November makes this a bad buy at $32 per ounce. That is unless something catastrophic happens and we only trade in precious metals.
The high was $50, but adjusted for inflation that's like $150 today. Which means silver has to go up 5X to match it's all time high.

But hey, if you think it's going back to $20, short silver and make some bucks.
1

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