I would consider Costco to be a fairly mainstream Retailer / Wholesaler that is pretty recognizable in the US and even here in Australia. So I was surprised to see an Article on Zerohedge today reporting about Costco selling Gold Bars. Apparently they started doing this in September and they’ve sold over $100 million worth during their first Quarter with stock pretty much flying off the shelves. This seems significant...
Normally if I was buying Gold or Silver it’d be from a fairly specialized Bullion or Coin Shop and over here in Australia we don’t have a lot of those near me. Is this move from Costco signalling to us that demand for Gold and Silver could be becoming more mainstream? Should we expect other mainstream Retailers to follow suit in the coming years?
Personally, I think the answer is YES. Over here we’ve seen Retailers (like Supermarkets) selling Vouchers and Charge Cards that have functioned as Cash for many people. As the old Fiat Currency System continues to crumble people will be looking for alternatives and there is none better than Precious Metals so why wouldn't the Mainstream Retailers stock up?
I’m interested to know what my brothers and sisters in SGS might think, especially our North Americans where Costco has a massive presence. Is Costco selling Gold Bars something you knew about? Do you think it’s important and would you consider buying Gold from Costco yourself?
