From the news recommendations I get in my Android phone, it looks like Costco has now started selling silver as well, after the successful debut with gold bars some time ago:
What does that mean?
Bullish? Emptying unwanted inventory? Publicity stunt?
I have no idea, but who knows maybe it catches on and more people start stacking silver to pump my bags. Silver does need a bit more love
As for the silver they sell, they are Canadian maples...with king Charles on the back 🤢 🤮
Sold in 25 tubes, the 1-ounce Canada Maple Leaf Silver Coins are priced at $679.99.
The coins from the Royal Canadian Mint have a image King Charles III on one side and a maple leaf on the other. source
FYI, these coins have a face value of 5 $ and they look like this:
One thing is for sure... If this experiment goes as well as the one they did with goldbars Costco is in in for some nice profits
"You’ve probably read about the fact that we’re selling 1-ounce gold bars. We sold over $100 million of gold during the quarter." source
And with stackitis being an addictive hobby, they sure are in for some reccuring customers.
Imo, Costco is for sure getting some nice exposure from this stunt. Other than the mainstream news, after a bit of googling I found out it has been shared quite a lot on reddit and other social media.
Well played !
Ideally, the demand will keep going and more and more everyday peeps will exchange their paper money for something more tangible. Wishful thinking much?
Oh well..
Fun Numismatics Posts
Enjoyed the post? Here is some more fun silver/numismatics themed content I have written in the past I think you will enjoy:
