Costco is becoming a go-to destination for the discerning precious metals buyer (not to mention). Yukon Cornelius).
The retailer whose 24-karat gold bars were a hit with shoppers (and gave the company’s e-commerce division a big boost), has now taken place Added silver coins to his offers.
Buyers/investors can purchase a pack of 25 1-ounce silver coins for $625 on the company’s website. And they go fast.
The coins are 2024 Canada Maple Leaf silver coins, which are 99.99% pure silver. On one side you have a picture of King Charles III. and on the other a maple leaf and have a face value of $5 (Canadian – equivalent to $3.72 in US dollars).
Like the gold bars, the coins are only available on the company’s website – and the introduction of precious metals to its online offering has been a boon for e-commerce. CFO Richard Galanti said this in a conference call on Thursday Increase in online sales in the last quarter was “led by sales of gold and more recently silver.”
The price of gold is rising All-time highs Recently, however, silver has largely held its value over the past few years – and is well off its high of $49.51 an ounce. Still, the coins’ affordability and fears of the bull market reversing as interest rates remain high are driving interest (along with the novelty of the offering).
If product reviews are to be believed, Costco shoppers are a little more fond of gold. Silver customers have complained about the shipping of the coins, saying the cases were not sealed, causing the coins to fall out and in some cases become scratched.
There’s not much they can do at this point. Costco says the coins cannot be returned or refunded and customers are limited to five instances per membership – and they only have one opportunity to purchase them.