Costco fans were given the opportunity to purchase a new item in late 2023 – 1 oz. gold bars. If you bought Costco gold, you may wonder what to do with it. Holding on to it is the best strategy for investing in gold. Buying gold is a well-known means of hedging against inflation and is a safe-haven asset. Wise management can provide the desired security and wealth preservation over concerns that led to its purchase.
You Bought Costco Gold Bars: Should You Hold or Sell?
If you bought gold from Costco, having a plan and understanding the world of precious metals is essential. The price of gold, or spot price, has experienced a 45% increase year over year. Thus far through Q1 2025, the spot price has hit a high of $2,914 and low of $2,624.
Meant for wealth preservation, economic headwinds may guide your decision-making.
Reasons To Hold Your Costco Gold
The best way to harness gold’s wealth-preserving power is to hold it for the long term. Here are some reasons why that is the case.
Reasons To Sell Your Costco Gold
Gold is a liquid asset and, therefore, easy to sell when cash is needed. Here are some reasons people consider selling Costco gold.
- Retirement funding: Liquidate during retirement when other stocks are underperforming.
- Changing financial goals: As personal financial objectives evolve, you may decide to sell some of your gold.
- Market timing: Spot prices fluctuate for gold. Selling is an option to avoid this, but predicting market trends can be challenging. The best strategy for gold bullion investing is a long-term hold.
- Personal life events: More significant expenditures like medical expenses, weddings, or debt repayment require funds that selling gold may provide, but the best play is to hold the precious metal.
The current value of the precious metal makes selling gold attractive. However, it’s not generally a good idea to sell commodities as a reactionary or fearful response to the market. Instead, consider selling with a strategic plan in mind that takes into account your personal situation. A long-term hold is a beneficial way to avoid price fluctuation and take advantage of higher gains.
How To Properly Store Costco Gold Bars
If you bought Costco gold, you possess the physical bar. It’s vital to store the gold bar safely. If you own your home, that provides self-storage opportunities.
It’s best to keep your assets confidential and avoid making it known that you are holding on to Costco gold bars. Purchasing a trustworthy safe is wise. Put it in an inconspicuous space and limit who you divulge its location to for increased security.
If you rent or don’t want the gold in your house, opt for a safe deposit box or a custodian depository. These add cost, but perform due diligence before selecting either.
Finally, if you have multiple bars, it’s recommended to avoid storing them all together. Combining an in-home safe with a safe deposit box provides extra protection.
How To Sell Costco Gold and Other Precious Metals
Selling any investment requires analysis, and this is especially true for an asset as valuable as gold bars. Don’t accept the first offer you receive; rather, research multiple vendors. Finding a reputable dealer is vital as the gold market is unregulated.
You can sell locally but expect to receive less at brick-and-mortar stores as they have higher costs. Selling to a reputable, nationwide bullion dealer like CMI Gold & Silver is a safe way to sell your gold. When shipping, it’s wise to take precautions, including:
Beware of red flags. Avoid vendors that make you uneasy.
Where To Sell Your Costco Gold Bars
If you’re trying to determine how to sell gold bought from Costco, the store doesn’t buy it back. Online retailers, local dealers, and pawnshops are all options. The latter two won’t offer top dollar and may lead you to scam artists.
Search for a reputable dealer. Select one that clearly communicates its selling process and has good reviews, who will lock prices same-day and require same-day shipping.
If you bought Costco gold and want to liquidate it, call one of CMI Gold & Silver’s non-commissioned brokers today to learn how easy it is to sell your gold. Continue to peruse our website for all the information you need to invest like the pros.