Written by the TreasureGuide for the exclusive use of the Treasure Beaches Report.
Costco is making gold off its own gold.
The retail chain is making $100 million to $200 million a month by selling gold bars according to a Wells Fargo equity research note. Last October, the company began selling 1-ounce bars made of nearly pure 24-karat gold priced at about $2,000.
"We view the addition of gold/silver as a smart move for Costco, as it only reinforces its value position," the report said. "That being said, pricing at that level and shipping costs suggests it's a very low-profit business at best."
Equity analysts said the wholesaler priced its gold appropriately by selling about 2% above spot prices to members before a 2% cash back reward for executive members and an extra 2% in cash back for those with a Citi card...
Here is the link.
Costco's gold bars rake in up to $200 million a month: Experts (usatoday.com)
The spot price for gold Thursday was $2405.80. Might be worth checking Costco. Might get a good deal, especially with all the discounts.
Inflation is driving up gold and other metals while the dollar shrinks. They make it look like the economy is good but it is play money.
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Not long ago I found one of these beads (the one on the right) and I said I thought I had another one that I found sometime in the past. I managed to find the other one. I was interested to see if the marks are the same. They are the same characters but slightly different. They seem to be hand painted. The older one I had has a bit more chain on it. It also has a earring post. So now I know what they are from, and from the style of the earring post, they are not really old. I'd say maybe vintage. I was hoping Kang-Hsi or something like that, but that does not appear to be the case. Still don't know what it says or even the language.
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| Two Hand-Painted Beads From Earrings. |
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Went out today for a little metal detecting in a junky spot that I've hunted before. With the high tides and previously removing some of the junk, I thought I might do a little better this time. Between all the junk I did pick out a few items. One was this earring that looked like it might be set with stones, but closer inspection revealed that what at first glance looked like stones were actually part of the earring, which I tested and found was not gold.
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| Junk Earring Find. |
Also picked out a key that gives a good indication of the age of things I was into.
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| Old Brass Key. |
And the following vintage, or maybe antique earring.
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| Old Style Earring Find. |
There was tons of junk. Those are the better things that I was able to pick out of the junk only with much patience and care.
I'll hope to find time to get back to the wreck beaches someday soon.
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Heard from Captain Jonah, who I mentioned yesterday when I posted his big gold coin find. He clarified that he agreed with how things classify, but he moved the boat a good distance from the site of the musket balls before hitting the gold coins.
Thanks Jonah.
The wind changed this morning. If you've been hunting an area that was cut out by yesterday's south wind and high tides, you'd want to hit it before the wind change filled it in again.
The high tide today isn't that big, but the low tide will be pretty good.
Here is today's surf chart.
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| Surf Chart From SurfGuru.com. |
Good hunting,
Treasureguide@comcast.net
