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Costco’s gold bars are selling out. Here’s where else to buy them.
Warehouse giant Costco made headlines last year when it surprised the nation by adding 1-ounce gold bars to its online product lineup. While gold bars may seem like an unusual addition to Costco’s bulk item offerings, the initial demand was so high that the gold bars sold out quickly. And, while the warehouse quickly restocked its online inventory, it remained difficult for buyers to get their hands on Costco’s gold bars.
Fast forward to today, Costco continues to sell gold and recently added platinum bars to the mix. These days, Costco’s gold bars are now available online and in select warehouse locations, but it appears that the gold bars remain just as popular as ever. According to a new Bloomberg survey, about 77% of the Costco locations that stock bullion bars reported they were out of stock by the first week of October — despite these stores having received recent shipments.
If you’ve been hoping to buy gold bars from Costco but can’t seem to snag one due to the high demand, don’t worry. There are several other options available for Americans who are interested in purchasing physical gold.
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Where to buy gold bars now
Here are a few other options for buying physical gold if you’re left empty-handed by Costco’s gold drought:
Online precious metal dealers
Online precious metals dealers are one of the most convenient and reliable ways to buy gold bars. By utilizing these platforms to purchase your gold, you can find a wide selection of gold products in various sizes, and most have extensive customer reviews to help guide your purchasing decision.
By using a reputable online dealer, you’ll typically also get secure, insured shipping and the ability to track your purchase every step of the way. That can make this option ideal for investors who want the convenience of shopping from home.
For example, JM Bullion, one of the largest and most trusted online dealers, offers gold bars from a variety of mints, including Credit Suisse, PAMP Suisse and the Royal Canadian Mint. Their website provides detailed information on the size, weight and purity of each bar. APMEX is another online dealer known for its wide selection and competitive prices, and it offers a variety of gold bars in different sizes.
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Local gold dealers
For those who prefer to see the product in person before purchasing, local bullion dealers can be a great option to consider. Many cities across the U.S. have reputable bullion dealers who specialize in gold, silver and other precious metals, making this option accessible to a large pool of investors.
Buying from a local dealer also allows you to physically inspect the gold bars and ask questions face-to-face with a knowledgeable seller. Plus, purchasing in person means you can take your gold home immediately, avoiding shipping fees and the wait time that comes with online purchases. Some local dealers will also allow you to order online and pick up in-store, providing a blend of convenience and security.
Banks and credit unions
Some banks offer gold bars for sale directly to their customers and may facilitate gold purchases through partnerships with dealers. The advantage of buying gold through a bank is the trust and security that comes with dealing with a well-established institution.
Buying gold through a bank typically involves setting up a special account or making arrangements with a personal banker. As a result, the process can be more formal and may require larger minimum purchases compared to other options. For those who already have a strong relationship with their bank, though, this can be a convenient and secure way to invest in gold.
Banks typically offer high-quality, certified gold bars, often from well-known refineries. The main drawbacks are that the selection may be limited and prices might not be as competitive as other sources due to the additional layers of service and security provided by the bank.
The U.S. Mint
The U.S. Mint does not sell gold bars directly, but it does offer a variety of gold coins, including the popular American Gold Eagle, to investors. Gold coins can be a good alternative to gold bars for investors who want to buy government-backed gold in a recognized form. And while these gold coins have slightly higher premiums than bars due to their legal tender status, they are a highly liquid and easily recognizable investment.
The American Gold Eagle coin is available in four sizes, all of which are guaranteed for their weight and purity by the U.S. government: 1 ounce, 1/2 ounce, 1/4 ounce and 1/10 ounce. You can purchase U.S. Mint products through its official website.
The bottom line
While Costco’s gold bars are highly sought after and may be difficult to find in stores right now, there are many other reliable ways to purchase gold bars. Whether you prefer the convenience of online dealers, the face-to-face interaction of local bullion shops, or the security of buying from a bank, there are plenty of options available to suit your investment needs. The key is to approach each purchase with due diligence to ensure that you’re making the most well-informed investment decision possible.
CBS News
Capybaras are the “it” animal inspiration for toys, slippers and T-shirts this holiday season
The world’s largest rodent is having a big moment.
The capybara — a semi-aquatic South American relative of the guinea pig — is the latest in a long line of “it” animals to get star treatment during the holiday shopping season.
Shoppers can find capybara slippers, purses, robes and bath bombs. There are cuddly plush capybaras and stretchy or squishy ones. Tiny capybaras wander across bedding, T-shirts, phone cases, mugs, key chains, crochet patterns and almost any other type of traditional gift item. Last year, it was the axolotl that took pride of place on many products, and the endangered amphibian remains popular. Owls, hedgehogs, foxes and sloths also had recent turns in the spotlight.
Trendy animals and animal-like creatures aren’t a new retail phenomenon; think the talking Teddy Ruxpin toys of the 1980s or Furby and Beanie Babies a decade later. But industry experts say social media is amplifying which animals are hot — or not.
“It’s really the launch on TikTok, Instagram and other social media platforms that allow these characters or animals to blow up like crazy,” said Richard Derr, who has owned a Learning Express Toys franchise in Lake Zurich, Ill., for nearly 30 years and is also a regional manager for the specialty toy store chain.
Social media is also speeding up the cycle. Must-have animals may only last a season before something new captures customers’ imaginations.
“It’s really important to keep feeding that beast,” Juli Lennett, a vice president and toy industry advisor at market research firm Circana, said. “If you are an influencer, you’re not going to talk about last year’s stuff.”
Skyrocketing plush toy sales — fueled by a need for comfort during the pandemic — are also increasing the demand for new and interesting varieties, Lennett said. In the first nine months of this year, sales of plush animals were up 115% from the same period in 2019, she said. Overall toy sales rose 38% in that time.
Consumers are seeking out increasingly exotic species that they see in online videos, games and movies. Highland cows, red pandas and axolotls, a type of salamander native to Mexico, have all popped up in popular culture. According to Google Trends, searches for axolotls shot up in June 2021 after Minecraft added them to its game.
“Nobody knew what an axolotl was in 2020,” Derr said. “Now, everybody knows axolotls.”
Cassandra Clayton, a Vermont Teddy Bear Company product designer, said rising sales to adults are also fueling the demand for unique – and collectible – plush toys.
“Stuffed animals are really becoming an ageless item,” she said. “Especially with the boom of self-care in adults and turning towards comfort objects to help de-stress and relax in your life.”
Clayton expects demand for unusual stuffed animals to continue to grow. Among the oddest she has seen: a stuffed version of a water bear, a type of microorganism also known as a moss piglet or a tardigrade.
“It doesn’t necessarily inspire you to cuddle with them, but you’re really seeing the industry start turning towards those characters,” she said. “I think that’s the next trend.”
Figuring out the next “it” animal — or microorganism — is a challenge for toy makers.
“You never know exactly when they’re going to hit and how big they’re going to be,” said Sharon Price John, the president and CEO of Build-A-Bear Workshop, a chain of nearly 500 stores that offers an expanding menagerie of animals and characters for customers to customize, including capybaras and axolotls.
The St. Louis-based company watches social media and gets ideas from talking to store employees and patrons, John said. It usually takes Build-A-Bear up to a year to introduce a new stuffed toy, she said, but the company can move faster if it spots a trend. It sometimes tests a small batch online to make sure a trend is sticking, John said.
Annual trade shows in Asia, Germany and elsewhere are another place to spot new trends. Punirunes – digital, interactive pets that also come in plush varieties – are big in Japan right now and will likely take off in the U.S., toy store owner Derr said.
“Here, I can’t give them away. They’re too new. But give it a year or two,” he said.
Companies can kick off their own trends too. Build-A-Bear’s Spring Green Frog, introduced in 2020, was an immediate hit thanks to videos posted by customers. It remains popular, with nearly 2 million sold, John said.
John suspects people are drawn to friendly, slow-moving capybaras because watching videos of them are so relaxing. But shoppers who want one need to act fast. A Build-A-Bear holiday capybara with red and green sprinkles on its fur – dubbed a “cookiebara” – has already sold out, she said.
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Durbin reported from Detroit. Crawford reported from Lake Zurich, Ill.
CBS News
Government shutdown looking more likely after spending bill tanked
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CBS News
Trump shakes up spending talks with call on Congress to eliminate debt ceiling
In a move that has stunned Washington, President-elect Donald Trump is now urging Congress to eliminate the debt ceiling, dramatically shaking up talks among lawmakers, who are at an impasse over federal spending and government funding, which is scheduled to lapse this weekend.
While some on Capitol Hill have balked at Trump’s latest demand, the president-elect was unwavering on Thursday. He said he is determined to hold his position that lawmakers should both oppose any sweeping spending measure that includes “traps” from Democrats and abolish the debt limit before he takes office next year.
“Number one, the debt ceiling should be thrown out entirely,” Trump said in a phone interview. “Number two, a lot of the different things they thought they’d receive [in a recently proposed spending deal] are now going to be thrown out, 100%. And we’ll see what happens. We’ll see whether or not we have a closure during the Biden administration. But if it’s going to take place, it’s going to take place during Biden, not during Trump.”
Trump’s comments, which have sent negotiators in both parties back to the drawing board ahead of the expiration of government funding at 12:01 a.m. on Saturday, came a day after he called a bipartisan spending deal “ridiculous and extraordinarily expensive” and said that any legislation to extend the federal government’s funding should also include plans for “terminating or extending” the debt limit.
Still, Trump, who built a decades-long business career as a negotiator and dealmaker, appeared to leave room for House Speaker Mike Johnson and other top Republicans to find consensus on new options that he would find sufficient.
When asked how he would like to see this standoff end, Trump replied, “It’s going to end in a number of ways that would be very good.”
Trump said the discussions are ongoing and it is too soon for him to spell out more details on what the contours of a final agreement should be.
“We’ll see,” Trump said. “It’s too early.”
But Trump said he will continue to closely track how Democrats might seek to influence any revised deal and voiced displeasure at how the initial bipartisan deal had Democratic provisions.
“We caught them trying to lay traps. And I wasn’t going to stand for it,” he said. “There are not going to be any traps by the radical left, crazy Democrats.”
Tesla CEO Elon Musk, a billionaire who spent almost $300 million to back Trump and other Republican candidates in the November elections, also opposed the initial bipartisan spending deal, which he called “terrible.” When Johnson scrapped it, Musk wrote on X, “The voice of the people has triumphed!”
Trump’s focus on the debt ceiling, which caps the federal government’s borrowing authority, comes as he faces a showdown over the issue during the first year of his upcoming term. That prospect, several people close to Trump say, has drawn his attention because he wants to spend his time and political capital next year on other issues and would prefer Congress addresses it now.
While the current cap on federal borrowing is suspended until Jan. 1, 2025, the Treasury Department would be able to take steps to avoid default for a few months into next year. Nevertheless, the government could face an economically fraught default sometime early next year should the debt ceiling not be extended or addressed by Congress.
When asked Thursday about Trump’s call to address the debt limit, Rep. Hakeem Jeffries of New York, the House Democratic leader, said, “the debt-limit issue and discussion is premature at best.”