Not Costco… Goldco!

Costco has become an American institution. As the third-largest retailer in the country (and the world), Costco’s business model has helped lead to its continued growth.

It seems like there’s nothing you can’t get at Costco, from prime steaks to toilet paper to eyeglasses, and of course the famed $1.50 hot dogs. But now there’s something new that Costco is selling: gold and silver.

Yes, now you can drive right over to Costco and pick up a 12-pack of tomato sauce, a 6-pack of pasta, and a couple ounces of gold. Well, almost.

According to Bloomberg, 77% of surveyed Costco stores had sold out of gold bars. But even though many stores are sold out, demand doesn’t seem to be diminishing.

Here’s why.

Key Takeaways

• Gold has gained nearly 30% this year, and has set all-time highs
• Gold IRAs offer you the ability to move pre-existing tax-advantaged retirement savings into gold
• If you expect to sell the gold you buy, you’ll want to think about how to sell it, potential tax liabilities, etc.

Gold and Silver Growing in Popularity

Gold and silver have always been seen as stores of value, safe haven assets, and hedges against inflation, but their popularity has been growing in recent years. Gold has recently set all-time highs, and silver is showing strong price growth too.

That has helped drive the popularity of gold and silver, particularly in the face of a potential recession. With the gold price having gained nearly 30% so far this year, and the silver price having gained over 30%, many Americans are looking to gold and silver to help grow and safeguard their wealth in the face of economic uncertainty.

Inflation is still not under control, with core CPI still at 3.3% year on year. And Costco shoppers could be among those who have been most sensitive to the impacts of this continuing inflation.

Maybe that’s one reason Costco’s gold and silver coins and bars have been flying off the shelves. According to Wells Fargo analysts, Costco has been selling $100-200 million dollars of gold and silver each month, instantly making it one of the largest precious metals companies in the country.

But just because you can buy gold and silver at Costco doesn’t mean that you don’t have other options. Because there are other ways of buying gold and silver that can offer you significant advantages.

Gold IRA vs. Costco Gold

What many people forget about when they buy gold is that at some point they may want or need to sell that gold. After all, when the price of gold goes up over time, you might want to cash out at some point to help pay for other things.

But where will you sell that gold? And have you thought about the taxes you’ll have to pay on your gains?

When you buy physical gold coins and bars you can hold them in your hand, but you bear all the risk of storage, safekeeping, and management. And while you may like the idea of being able to hold your gold in your hand, having to keep track of value, protect against theft, and other administrative aspects of gold ownership can be a real drag.

Compare that to another popular way of buying gold, a gold IRA. Gold IRAs offer three important advantages that make them popular with many people.

1. Potential for asset protection and growth in value.

   From October 2007 to March 2009, gold gained more than 25% while markets fell more than 50%. And in the aftermath of the financial crisis, 2008 to 2011, gold nearly tripled in price to reach all-time highs.

2. Tax advantages.

   Gold IRAs offer all the same tax advantages as any other IRA, including tax-free wealth appreciation. And when you distribute assets from your gold IRA, you pay normal income taxes, not the collectible tax rate that you would pay on sales of Costco gold or other gold held outside an IRA.

3. Proper management of gold assets.

   Gold IRAs are managed by experienced IRA custodians and the gold they own is stored at a bullion depository. So no more worrying about someone breaking into your house to steal your gold.

When it comes time to sell the gold in your gold IRA, you can choose from among a number of potential gold buyers, and you won’t have to resort to knocking on the doors of your local coin dealers and pawn shops. Goldco offers a Highest Buyback Guarantee if you decide you want to sell your gold back to Goldco at a later time.¹

Now, just because a gold IRA offers numerous advantages doesn’t mean that direct purchases of gold are a bad thing. And some gold buyers do a little of both, holding some physical gold in their personal possession just in case, and safeguarding their tax-advantaged savings with a gold IRA.

Gold IRAs are commonly funded with tax-free transfers or rollovers from existing 401(k), IRA, TSP, or similar retirement accounts, allowing you to move your existing retirement assets into gold tax-free, benefit from a rising gold price, and flexibly sell and/or reinvest your gold IRA assets in the future if you choose to do so.

H2: Learn More About Gold IRAs Today

With over a decade of experience, over $2.5 billion in precious metals placements, and over 6,000 5-star reviews from our satisfied customers, Goldco has become one of the most respected gold companies in the country.

We offer both gold IRA sales as well as direct cash purchases of gold, making us a one-stop shop for all your gold buying needs. At Goldco, we believe that everyone deserves the ability to benefit from owning precious metals like gold.

If you’re worried about the impact of inflation, or you’re fearful that recession could be on the horizon, and you’re looking for ways to preserve your financial well-being, maybe it’s time to start thinking about buying gold. But before you buy gold at Costco, talk to the precious metals specialists at Goldco today to learn more about all of your gold buying options.

This article was originally published in May 2024 and was updated in October 2024.

1 Please contact your Goldco account representative for details of the Goldco Highest Buyback Guarantee.