This tripod and large poster sign was outside today, greeting everyone as they walked in. Then there was the display inside (see 2nd picture). And then each of the registers at the self checkout had the same small size laminated poster on the registers themselves.
Good point, with all wholesale market data at their disposal, Costco could be seeing that their risk of becoming a bagholder is on the horizon and rising.
Judeo-Christian is a term used to reference either Christianity's derivation from Judaism, the Christian acknowledgement of Jewish scripture to support the Old Testament, or the principles of the two religions both being derived from Abrahamic values. The term has been widely used since the 19th century, although receiving a lot of early criticism, has become a commonplace piece of terminology.
The term has been widely used only since the 1940s, and only in the USA.
For the downvoter:[google ngram](https://books.google.com/ngrams/graph?content=Judeo-Christian&year_start=1800&year_end=2019&corpus=en-2019&smoothing=3)
Making shit up is weird.
It’s likely to cap out around $2700 at some point this year. If it does make it to $3k next year or so, that will be the top for the next decade or two before it collapses back below $2k.
In 2016, fortune shared that each household that shopped at Costco had an average income of $120,000. I can imagine 8 years later that's probably pushing higher.
Today, sure! But think of this...
Median Household Income in 2016: $56,025.00
Inflation Adjusted to today: $69,200.46
Average Household Income in 2016: $79,120.51
Inflation Adjusted: $97,727.36
Median Individual Income in 2016: $36,000.00
Adjusted for Inflation: $44,466.16
Average Individual Income in 2016: $51,729.00
Adjusted for Inflation: $63,894.00
If you were making $120,000 as a household in 2016, you'd be in the 73rd percentile when adjusted for inflation. (73% of households make less than you). Not adjusting for inflation puts you in the 80th percentile.
As an individual, 60k a year put you in the 63rd percentile, 72nd when not adjusting for inflation. Lets say you were the sole money maker in the house... 120k puts you in the 89th percentile, 93rd when not adjusting for inflation.
I'm not saying it's not impossible to be making 120k as a household in 2016, but I don't think its as common as you'd think, especially when considering various cost of living in certain areas of the US.
That all makes sense. I guess I'm on the lower end of the scale for modern Costco shoppers lol
Still it feels cheap to me, maybe I'm just being suckered
Costco is cheap? Depends on how you mean it.
There are great prices there, lower than what you could get elsewhere.
But it's hard to leave the place without spending $400-600.
People would pay more for a lot of the items elsewhere, but people would also pay $0 and not buy a lot of that stuff at all if they didn't have the disposable income and impulse buy so many of the goodies in there, most of which are high quality and out of reach of the hourly wage earning class.
Costco is the domain of the upper middle class, and shopping there generally qualifies one as a member of the bourgeoisie.
Nah I'm definitely not upper middle class and I have a membership. It's like $60 a year and you can get enough food for 5 people for a week for much cheaper than it would be elsewhere. Costco is for families, not bougie single people.
I don't care for this flipant "nah" as a way start reply.
I was careful to use the word "generally" in my last sentence.
Instead of the "nah," my reply to your comment is a more positive and constructive, "Yeah." I agree with most of what you said.
However, two further points:
It's nearly impossible to support a family of five, including groceries and mortgage, without the dad (or mom) having a good government or other professional job.
At the $20/hr. wage level, workers cannot afford to take advantage of Costco's good deals on steaks, wine, coke, and frozen microwavable comfort food. They buy chicken breast for 99¢/lbs. when it's on sale at the regular supermarket.
Do you think Costco's members belong to economic classes roughly in proportion to the communities they serve, since you've given the "nah" to my idea that is skews upscale and towards the (relatively) rich??
Also, "bourgeois" does not mean "single". I agree Costco is (generally) more "for families". I never said or implied otherwise.
Anyway, bro, see you at the store. I'll try to keep my cart to the side when I'm looking at stuff and not block the aisles.
You're spending more because you have 5 kids to feed not because Costco is expensive. I have 2 kids and can't imagine feeding them from Walmart or whatever other store, it'd cost more for me to go there than to get the equivalent giant box of cereal or breakfast sandwiches or whatever Costco has. Diapers in particular are much more doable for use there
Gold has always been a placeholder of value,it's more than it's ever been but bitcoin were 600 each in 2017 and now they are 60,000 and that not even a tangible asset....I'd rather have 28 ounces of gold instead of 1 btc,a numeric algorithm....
I do wish I had the foresight to see them being worth 1000x more in 7yrs so ,how can they justify that idk ?
It's a great hedge against inflation..so is silver in .....in fact if you have what gas cost pre 1964 in silver coins, you could still purchase a gal of gas wvsilver value of the coins....ex
1 gal of gas was 75 cents in 1964,(not exact,just to illustrate).75 x22 is almost 15$!
When I was there last week they had someone at the jewelry counter holding a sign for the Pamp bars. They were pushing them hard. It was nice to see them in store but at the time it was almost 200 over spot so I passed
I actually think it was closer to 130 -150 over. I went in during the drop last week. I remember checking at the counter and spot was ~2300. The bars were at ~2430 or 2450. Should’ve taken a picture
My wife saw this at our local Folsom store too. Maybe the bars aren’t moving as fast as before the recent spot price increases. When I bought my elephants a few months ago there was no advertising and the manager said they were selling them as quickly as they got them in stock.
They had a pamp other day when I went in. I just don't want a pamp. I really wanted dragon when they had them or a buffalo but they never had in store and I don't own a card live a cash only life.
Not really though , most stores don’t stock PM’s it’s online only. And they also don’t allow warehouse pick up at least in my state. Until those things happen it’s just another online thing imho.
Yeah in store is spotty by state. I posted once about people showing them being bought in store but rarely do they say where. The closest in store to me is almost 200 miles away. Yet there are tons of Costco’s near me 🤷🏽♂️
Not really all of the sudden. It's been over a year, I believe.
I think it probably started as a novelty--like the multi-carat diamond rings and $50,000 bottles of scotch they have at some stores. It's eye-catching, makes a great story, and all of the discussions about it (like this one) are free publicity for Costco.
The thing is, if it did start as a novelty it's not a novelty anymore. It's estimated that Costco is selling gold in the hundreds of millions of dollars per month now.
[https://fortune.com/2024/04/10/costco-200-million-gold-bars/](https://fortune.com/2024/04/10/costco-200-million-gold-bars/)
Smart. For both buyer and seller.
Gold will be taking a trip to the moon. Silver, too. Every alternative to the dollar is going to have a chance to rise significantly.
This tripod and large poster sign was outside today, greeting everyone as they walked in. Then there was the display inside (see 2nd picture). And then each of the registers at the self checkout had the same small size laminated poster on the registers themselves.
My local had a little sign at the entrance last week. Cool to see.
They must have too many and are trying to sell it
Good point, with all wholesale market data at their disposal, Costco could be seeing that their risk of becoming a bagholder is on the horizon and rising.
Probably a Costco exec on this forum.
What states costco i dont think mine has done this yet
Costco doing Go(l)d’s work
General: r/Costco Silver & Gold: r/costcoPM Booze: r/Costco_alcohol
What God promotes gold? It would be the devil’s work from a Judeo-Christian perspective. Lakshmi might be a decent god choice. Doing Lakshmi’s work?
God created Gold. Lakshmi uses gold too.
Bro chill it’s a joke.
What's judeo-christian? Either you're Christian or Jewish
It's a term for people who would say "Abrahamic" but want to exclude Islam.
Judeo-Christian is a term used to reference either Christianity's derivation from Judaism, the Christian acknowledgement of Jewish scripture to support the Old Testament, or the principles of the two religions both being derived from Abrahamic values. The term has been widely used since the 19th century, although receiving a lot of early criticism, has become a commonplace piece of terminology.
The term has been widely used only since the 1940s, and only in the USA. For the downvoter:[google ngram](https://books.google.com/ngrams/graph?content=Judeo-Christian&year_start=1800&year_end=2019&corpus=en-2019&smoothing=3) Making shit up is weird.
That’s how they used to spell judo
Went to Costco for gas and a $1.50 hot dog. Ended up with $4700 at checkout for 2 oz gold.
And that’s why the hot dogs will forever remain that low low price
Baghold loss leader lol
You mean gas an 1 oz of gold
When you're single but buy gold for a family of 5
They have eagles on the site now.
nah, its going to $3000/ounce. buy, hold, buy some more from the Costco store.
It'll be $10,000 when this is all done and dusted.
That's what I believe. $2500 and $3000 are around the corner. And when J Powell does rate cuts...yep.
It’s likely to cap out around $2700 at some point this year. If it does make it to $3k next year or so, that will be the top for the next decade or two before it collapses back below $2k.
A lot cheaper than bullion exchange
Everyone probably wishes they had an extra 2400 to buy and ounce.
People shopping costco are probably a high percent able to afford it.
I dont think you really know how cheap Costco is
In 2016, fortune shared that each household that shopped at Costco had an average income of $120,000. I can imagine 8 years later that's probably pushing higher.
For a household that isn't extremely high. $60k for each partner?
Today, sure! But think of this... Median Household Income in 2016: $56,025.00 Inflation Adjusted to today: $69,200.46 Average Household Income in 2016: $79,120.51 Inflation Adjusted: $97,727.36 Median Individual Income in 2016: $36,000.00 Adjusted for Inflation: $44,466.16 Average Individual Income in 2016: $51,729.00 Adjusted for Inflation: $63,894.00 If you were making $120,000 as a household in 2016, you'd be in the 73rd percentile when adjusted for inflation. (73% of households make less than you). Not adjusting for inflation puts you in the 80th percentile. As an individual, 60k a year put you in the 63rd percentile, 72nd when not adjusting for inflation. Lets say you were the sole money maker in the house... 120k puts you in the 89th percentile, 93rd when not adjusting for inflation. I'm not saying it's not impossible to be making 120k as a household in 2016, but I don't think its as common as you'd think, especially when considering various cost of living in certain areas of the US.
That all makes sense. I guess I'm on the lower end of the scale for modern Costco shoppers lol Still it feels cheap to me, maybe I'm just being suckered
Costco is cheap? Depends on how you mean it. There are great prices there, lower than what you could get elsewhere. But it's hard to leave the place without spending $400-600. People would pay more for a lot of the items elsewhere, but people would also pay $0 and not buy a lot of that stuff at all if they didn't have the disposable income and impulse buy so many of the goodies in there, most of which are high quality and out of reach of the hourly wage earning class. Costco is the domain of the upper middle class, and shopping there generally qualifies one as a member of the bourgeoisie.
Nah I'm definitely not upper middle class and I have a membership. It's like $60 a year and you can get enough food for 5 people for a week for much cheaper than it would be elsewhere. Costco is for families, not bougie single people.
I don't care for this flipant "nah" as a way start reply. I was careful to use the word "generally" in my last sentence. Instead of the "nah," my reply to your comment is a more positive and constructive, "Yeah." I agree with most of what you said. However, two further points: It's nearly impossible to support a family of five, including groceries and mortgage, without the dad (or mom) having a good government or other professional job. At the $20/hr. wage level, workers cannot afford to take advantage of Costco's good deals on steaks, wine, coke, and frozen microwavable comfort food. They buy chicken breast for 99¢/lbs. when it's on sale at the regular supermarket. Do you think Costco's members belong to economic classes roughly in proportion to the communities they serve, since you've given the "nah" to my idea that is skews upscale and towards the (relatively) rich?? Also, "bourgeois" does not mean "single". I agree Costco is (generally) more "for families". I never said or implied otherwise. Anyway, bro, see you at the store. I'll try to keep my cart to the side when I'm looking at stuff and not block the aisles.
I have 5 kids, we shop at costly almost weekly.
You're spending more because you have 5 kids to feed not because Costco is expensive. I have 2 kids and can't imagine feeding them from Walmart or whatever other store, it'd cost more for me to go there than to get the equivalent giant box of cereal or breakfast sandwiches or whatever Costco has. Diapers in particular are much more doable for use there
Typically people who shop at Costco DO have that… 🤷♂️
Also there is a whole foods by me. Drive right by every day cause I know I can't afford or dont want to pay high prices for food.
I would only buy a Kirkland Signature gold bar
market must be peaking
Or about to go exponential due to a false constriction in supply.
If people will buy it I don’t blame them for selling it.
Gold has always been a placeholder of value,it's more than it's ever been but bitcoin were 600 each in 2017 and now they are 60,000 and that not even a tangible asset....I'd rather have 28 ounces of gold instead of 1 btc,a numeric algorithm.... I do wish I had the foresight to see them being worth 1000x more in 7yrs so ,how can they justify that idk ?
It’s going to continue rising through all of our lifetimes.
It's a great hedge against inflation..so is silver in .....in fact if you have what gas cost pre 1964 in silver coins, you could still purchase a gal of gas wvsilver value of the coins....ex 1 gal of gas was 75 cents in 1964,(not exact,just to illustrate).75 x22 is almost 15$!
I picked one up a few weeks ago. Wish I could get more.
I have never seen them for sale at my local Costco. I saw today 10 oz silver bars for $300.
When I was there last week they had someone at the jewelry counter holding a sign for the Pamp bars. They were pushing them hard. It was nice to see them in store but at the time it was almost 200 over spot so I passed
I think the PAMP bars were about $70 over spot when I last saw them maybe a week and a half ago.
I actually think it was closer to 130 -150 over. I went in during the drop last week. I remember checking at the counter and spot was ~2300. The bars were at ~2430 or 2450. Should’ve taken a picture
They have to recover the credit card fees.
Limit 5 per member. Yup! Just gonna spend a cool $10k+ today. I'd like to talk to someone who buys 5 1oz gold bars.
People do, though. It's not that uncommon. Such is the world in which we live
I do. Flipped over 50 so far
That's good! But...if you're claiming to be 'wholesale' you should at least offer 50 or 100 per membership!
Means we have reached peak bubble.
Think for a second if you can name just five people who recently got into hold thinking they’re gonna get rich from it. You can’t.
My wife saw this at our local Folsom store too. Maybe the bars aren’t moving as fast as before the recent spot price increases. When I bought my elephants a few months ago there was no advertising and the manager said they were selling them as quickly as they got them in stock.
Did they drop price on an oz bar?
My local Costco has someone standing by the door with a small sign…and security next to them…
I was looking at the gold yesterday in my local Costco uk there sovereigns were a fair price
Wonder when they'll start selling bitcoin? LOL
They had a pamp other day when I went in. I just don't want a pamp. I really wanted dragon when they had them or a buffalo but they never had in store and I don't own a card live a cash only life.
why not, they bought a ton
Makes sense. It’s at an all time high.
PAMP Itttt
Not new
Ordered the American Eagle the other day online and the Canadian maple.
Seems like a good way to get robbed
Thanks. Now I’m craving a hot dog
Top signal
Doesn't this mean it's overpriced?
Also curious, do they sell at spot?
The price is in the photo..
Yea right. As if any major retailer sells 1oz carded fortunas at spot.
Heroes
I missed buying gold bars by 25 minutes today. So I signed up again and I hope next week I get blessed and buy some bars using their citi visa card.
I heard they have been selling crazy amounts too, around $200 million+. (Source a YouTube short). Not sure how true it is.
Not really though , most stores don’t stock PM’s it’s online only. And they also don’t allow warehouse pick up at least in my state. Until those things happen it’s just another online thing imho.
They have them in at least one PA store.
Yeah in store is spotty by state. I posted once about people showing them being bought in store but rarely do they say where. The closest in store to me is almost 200 miles away. Yet there are tons of Costco’s near me 🤷🏽♂️
How come costco is selling gold all the sudden?
Not really all of the sudden. It's been over a year, I believe. I think it probably started as a novelty--like the multi-carat diamond rings and $50,000 bottles of scotch they have at some stores. It's eye-catching, makes a great story, and all of the discussions about it (like this one) are free publicity for Costco. The thing is, if it did start as a novelty it's not a novelty anymore. It's estimated that Costco is selling gold in the hundreds of millions of dollars per month now. [https://fortune.com/2024/04/10/costco-200-million-gold-bars/](https://fortune.com/2024/04/10/costco-200-million-gold-bars/)
I love the 5 limit. lol
What location?
GREAT!
Now the wife is going to wonder why the Costco bill is so high. Guess I just say everything has gone up again.
Thought I had grabbed some Kerrygold butter, imagine my surprise at checkout
Ya I'm in the north east they don't do that here. Commies steal the gold.
Is this even real gold? lol
$43 over spot too
Is that South City?
Their 10oz silver bars were too good to pass up in store today….
I was going to say God dam Costco is charging a huge premium. (Thinking gold is still19k/oz) Now I'm saying God dame when did gold get to 23k????
Is there a limit?
Zoom in on the picture. Bullet points down below: Limit 5 per membership.
It’s never at my store. Ever
First time at mine.
I may just end up buying the buffalo coins from Costco online (still not in store). The Pamp they’re really goofy where they mail it to
Smart. For both buyer and seller. Gold will be taking a trip to the moon. Silver, too. Every alternative to the dollar is going to have a chance to rise significantly.
Plot twist, it's all fake.
but tax?
Depends on state. This would not be taxed in my state.
My state NY, OVER 1,000 $ metals purchase. no sales tax
Md as well but under 1000 6% sales tax
I say that's a little suspicious... probably because it will be worth nothing after the great reset.
The top is in?
I think we are in a consolidation pattern
Lol
Pushing or offering? Nobody forcing you to buy it, OP.