Investing

Not Costco… Goldco!

Costco-style warehouse store

Costco has become an American institution. The third-largest retailer in the country and one of the world’s largest corporations, 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 24-pack of #10 cans of tomato sauce, a 6-pack of spaghetti noodles, and a couple ounces of gold. Well, almost.

The gold and silver Costco is selling is available online only, and quantities are strictly limited, unlike just about everything else Costco sells. Still, these gold and silver coins and bars are selling like hotcakes.

Here’s why.

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 15% so far this year, and the silver price having gained nearly 20%, many Americans are looking to gold and silver to help grow and protect their wealth in the face of economic uncertainty.

Inflation has been rising once again, as the Federal Reserve has found it difficult to put the final nail in the coffin of inflation that first zoomed out of control a few years ago. And Costco shoppers are probably among those who have been most sensitive to the impacts of these continued price increases.

That’s probably one reason Costco’s gold and silver coins and bars have been flying off the shelves. In fact, Costco has been selling by some estimates over $200 million dollars of precious metals 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 should. 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’re going to want to sell that gold. After all, when the price of gold goes up over time, you’ll want to cash out in the future to use that money 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, the administrative aspects of gold ownership can be less than enviable.

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

  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 your gold, the gold in a gold IRA can find a ready market of gold buyers, and you won’t be reliant on knocking on the doors of your local coin dealers and pawn shops. And if you buy gold from Goldco, we’ll buy your gold back at any time.

Now, just because a gold IRA offers numerous advantages doesn’t mean that direct purchases of gold are a bad thing. And many gold buyers do a little of both, holding some physical gold in their personal possession just in case, and protecting 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 protect your existing assets with gold, benefit from a rising gold price, and flexibly sell and reinvest your gold IRA assets in the future if you choose to do so.

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 IRA companies in the country.

We offer both gold IRA services 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 rising inflation and looming recession that are facing this country, and are looking for ways to protect your financial well-being, maybe it’s time to start thinking about buying gold. But before you buy gold at Costco, talk to the experts at Goldco today to learn more about all of your gold buying options.

 

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