COSTCO shoppers can make an $870 profit by reselling an item that is trading at an all-time high and has climbed over a thousand dollars in value since last year.
If shoppers bought a gold bar last year, they would get roughly 30% more for it if they were to sell it now.
Gold is over 30% more valiebla enow than it was at this point last year[/caption]
Gold is now selling at roughly $3,549 per ounce, which is up a staggering 32% from this time last year’s value of about $2,679.
Gold is more valuable right now because the economy is uncertain, and it increases in value when interest rates fall, according to experts.
Jon Ulin, a certified financial planner based in Boca Raton, Florida, named a number of factors that are adding to increasing tensions.
He said: “With two wars ongoing, trade tensions, U.S. debt concerns and fears over [Federal Reserve] independence, gold’s traditional ‘fear hedge’ role remains strong.
“It’s beating bonds at providing portfolio safety.”
Given that gold seems like a safe bet on a return on your investment and then some, buying a bullion at Costco could be a worthwile purchase.
According to CNBC, if a shopper bought a gold bar from Costco in September 2024 and then sold it in 2025, they would be making a gain of roughly $870.
This is based on comparing last September’s spot price for gold to this year’s.
CONS OF SELLING
One of the downsides of selling a gold bar is the actual price a shopper would get for it.
Ulin urged shoppers that the spot price is really more of a benchmark for negotiation.
He claimed that the actual price a gld bar would sell for would be about 5% to 10% less from most dealers.
Those selling will also be required to pay tax on the profits made from the sale.
The IRS classifies gold bars as collectibles, and if you sell within a year of purchase any profit would be taxed as normal.
Collectibles are taxed at normal rates, and capped at 28%.
Who is hoarding gold and why?
Gold expert Jonathan Rose, the CEO of Genesis Gold Group told The U.S. Sun who is hoarding and the benefits of it
- Wealthy Individuals and Elites: Millionaires, tech executives like Mark Zuckerberg and Sam Altman, and pro athletes are among those hoarding gold for doomsday preparations.
- Concerns Over Economic Collapse: The surge in gold purchases is fueled by fears of the devaluation of the dollar and an overall economic downturn.
- Prepping for Various Scenarios: The current surge in gold purchases is attributed to concerns ranging from the 2024 presidential election to recent AT&T power outages, which some fear were cyber attacks.
- Role of Gold in Bartering: Gold is seen as a valuable asset for bartering in a doomsday scenario, where traditional currency may lose its value.
- Preference for Small Denomination Coins: Buyers are increasingly seeking small-denomination gold and silver coins, which are considered more tradable and easier to barter with.
- Gold as a Tradable Currency: In a doomsday situation, gold is perceived as a more reliable currency than paper money, capable of securing essential goods and services.
- Gold as a Symbol of Value: In times of crisis, gold holds significant value as a tangible asset, prompting individuals to stockpile it for potential future use.
State income taxes can also vary widely, so depedning on where the shopper lives, they could be paying even more.
For example, some states don’t distinguish between collectibles and other capital gains.
It’s also good to know where to sell the gold bars to maximize profits.
Selling on places like ebay or Facebook willlikely result in lower offers than if you went to an in-person buyer.
Selling at brick-and-mortar bullion ships might prove more fruitful, as store the Wall Street Journal spoke with in New York City would offer around 1% to 5% below the spot price.
These stores also offer in-person evelautions and immediate payment, which could go a long way to putting the shopper at ease.
Gold is now selling at roughly $3,549 per ounce, which is up a staggering 32% from this time last year’s value of about $2,679[/caption]
