Have You Heard About the Gold Rush in New Jersey?
💰People Have Been Buying Up Gold Bars from Discount Warehouse Club
💰Price of Gold Fluctuates
💰The Gold Bars Reportedly Account for Between 100 and 200 Million Dollars a Month
There's a gold rush happening and people in New Jersey won't believe where they can get their gold bars.
No, I'm not talking about a certain senator who was allegedly collecting gold bars, himself.
People have been buying gold bars and lots of gold bars from Costco.
That place has everything.
Last year, Costco began offering one-ounce gold bars on its online site.
You might be wondering who would buy gold bars from a warehouse club.
Apparently, quite a few people have been buying the gold bars.
In fact, demand for the unusual item was so high, that the retailer quickly sold out.
Demand for the bars continues to be high and as quickly as Costco restocks the bars, customers are buying them in scores.
The biggest complaint from customers is the difficulty in purchasing the unique item.
Costco has seized on the opportunity to expand its offering to now include platinum bars.
You may be wondering how much people are paying for their gold bars at Costco.
The price of gold fluctuates regularly.
How Much Does Gold Cost?
The current price of a Troy ounce of gold is about $2700.
The weight of gold is measured by Troy ounces which is about somewhat heavier than a typical ounce.
Expert opinions vary on whether buying gold at Costco is a better deal than more traditional sources.
They suggest you do your research and compare the current price to other the prices at other dealers.
Why Are People Buying Gold from Costco?
The main benefit of buying through Costco seems to be convenience.
Why do people buy gold?
Gold holds its value pretty well
It's a tangible asset that can be used like any other currency
Gold is a relatively safe investment
The gold bars are available online and at very few select locations.
Of course, if they're sold out, how convenient can that really be?
Source: CBS News
The Insider's Guide to Costco Shopping: 15 Things You Should Know
Gallery Credit: Tara Holley
Shoppers React To Costco's Newest Policy Change
Gallery Credit: Chris Cardenas