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Should you buy gold from a big retailer? Pros and cons experts say to know
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Gold became an increasingly popular investment in 2024 as its price climbed upward while repeatedly hitting record highs. As a result, many new investors began buying gold bars and coins, hoping to turn a quick profit even though gold is normally a long-term investment used as a hedge against inflation.
The price of gold dipped sharply in November, though, driven in large part by a strong U.S. dollar and concerns about inflation ramping up. For those interested in buying gold online or in person, though, this dip may not be bad news. Instead, it presents a buying opportunity — but where should investors go to buy gold?
Costco and some other big retailers now sell gold bars, silver coins or other precious metals. The big question, though, is whether you should buy from these big box stores or whether you should limit your precious metal purchases to specialists like the best gold IRA companies. To help you decide, we’ve consulted with some experts to find out the pros and cons of buying gold from a big retailer.
Get started on your gold investing journey today.
Pros of buying gold from a big retailer
Buying gold from Costco and other big-name retailers has some definite advantages, including convenience and affordability.
“These are reputable companies,” Luciano Duque, founder of C3 Funds, says. “Even though selling gold is not their core business, buying from them would not carry any type of counterfeit risk. I mean, I would rather buy gold bars from them than from a shady local pawn shop.”
Not only are these big retailers reputable, but most people know and understand how to shop from them, which makes buying gold a simpler prospect.
“Buying gold is relatively easy with many big retailers,” says Rob Burnette, CEO of Outlook Financial Center.
While you can’t typically walk into the stores and purchase gold bars, it’s just a matter of a few clicks on a website you’re already familiar with.
While Costco requires a membership to buy gold, that’s not necessarily a bad thing since warehouse club members already know they can trust the products they purchase from Costco. In fact, brand reputation is another big advantage of buying gold from a big-name company.
“As with any investment, there can be risks associated with the purchase of gold,” says Andrew Wood, RICP, a retirement planning advisor with Daniel A. White & Associates. “Big retailers can help you feel more secure. I wouldn’t go to just anyone on the street.”
Wood says that when you buy gold, you need to “do your due diligence, find a reputable dealer, look at their history and background, and understand the fee and cost structure.”
If you’re buying from Costco, however, this limits the amount of vetting you need to do.
The cost and fee structure may also be another reason to buy your gold from a big retailer.
“They may have better pricing than smaller, more local options and their fees may be lower due to having a larger volume of transactions,” Burnette says.
Michael Martin, vice president of market strategy at TradingBlock, agrees.
“Costco typically sells gold at around a 2% premium over the spot price, offering a reasonable markup. Also, Costco states on its website that shipping and handling are free, which is a big advantage since many gold dealers charge high delivery fees,” Martin says.
Costco and other stores also deliver physical gold, which some investors prefer.
“Buying physical gold from retailers like Costco and Walmart can provide investors with peace of mind by giving them something tangible to hold. In a worst-case economic scenario, actually possessing the gold might offer a security that paper claims can’t match,” Martin says.
Find out how to add gold to your portfolio now.
Cons of buying gold from a big retailer
Although there are benefits, there are also some disadvantages to getting gold from a big box store. Most of this downside comes after you’ve made your purchase.
“The real question is how you sell the gold,” Burnette says. “Will the large retailers buy the gold from you? What are the fees and commissions involved? You are at the mercy of the companies that will buy gold since the local supermarket isn’t going to accept gold for your groceries.”
Alex Ebkarian, COO and co-founder of precious metals dealer Allegiance Gold, also raises this concern.
“The biggest problem with Costco and Walmart is that they don’t offer a buyback policy so people are stuck with their gold and no immediate place to go to sell it back. Reputable dealers have a buyback policy if circumstances arise where buyers need to sell,” Ebkarian says.
These buyback programs offer more liquidity and eliminate the challenge that comes with owning physical gold and being unsure of how or where to sell it.
You also can’t just assume the cost is competitive. Although Burnette says the markup and fees are often affordable, he also stresses the importance of finding out the total cost up-front. And Duque also warns that “sometimes premiums could be higher than those of a traditional gold dealer.”
Gold companies may have to compete more on price since they can’t rely on just being a household name to lure investors in. Plus, since gold and other precious metals are all they sell, they’ll likely have a wider selection of investment offerings than the big-name retailers will.
The bottom line
Ultimately, gold companies can be the better choice for many — especially for serious gold investors. However, the important thing is to do your due diligence, consider the pros and cons of all options, and do your research to ensure you’re buying from a reputable dealer at an affordable cost.
CBS News
How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
CBS News
How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
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The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
CBS News
How to watch the New England Patriots vs. Miami Dolphins NFL game today: Livestream options, more
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The New England Patriots will face off against the Miami Dolphins in a game today at the Hard Rock Stadium in Miami. The Patriots have had an uneven season so far, coming into the game with a record of 3-8, including a 28-22 loss to the Los Angeles Rams on November 17. The Dolphins, however, haven’t fared much better this season as they enter the game with a record of 4-6, although they are coming off two wins in a row, the latest against the Las Vegas Raiders last weekend.
Keep reading to find out how and when to watch the New England Patriots vs. Miami Dolphins game today, even without cable.
CBS, Paramount+ and CBS Essentials are all subsidiaries of Paramount Global.
How and when to watch the New England Patriots vs. Miami Dolphins game today
The New England Patriots vs. Miami Dolphins game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (10:00 a.m. PT). The football game will be shown on CBS and streamed on Paramount+ and the platforms noted below.
How and when to watch the New England Patriots vs. Miami Dolphins game without cable
While CBS is available with many basic cable packages, you’ll have other viewing options, too for the Patriots-Dolphins game. Just understand that the below streaming options will require the use of an internet provider:
Paramount+: Watch CBS-aired NFL games without cable
With Paramount+ you’ll have multiple viewing options to choose from. You can catch NFL games on the Paramount+ Essential tier for just $7.99 each month or you can watch college football with a Paramount+ with Showtime subscription for $12.99 monthly. In addition to live streams of NFL games airing on CBS, you’ll get to watch additional live sporting events including NCAA college football, PGA Tour golf, soccer and more.
Get started with Paramount+ here today.
Amazon Prime Video: Add Paramount+ to your existing subscription
Already have an Amazon Prime Video account? Simply add Paramount+ to your current subscription to watch all the CBS-aired NFL games in addition to Paramount+ originals. The same prices from above apply, depending on which tier you choose. Not sure which is best for you? Don’t worry. Both options come with a free seven-day trial that can help you decide.
Watch the Patriots-Dolphins game on Amazon Prime Video.
Fubo: Watch the Patriots-Dolphins game for free
Looking for an inexpensive way to watch football? Fubo could be the best way to do so. The live TV streamer is currently offering a seven-day free trial and $30 off of your first month’s subscription. Once subscribed, you’ll gain access to all of their live sporting events immediately. And there will be a lot to choose from. Not only does Fubo come with access to NFL games airing on your local CBS channel, it also includes Fox Sunday NFC games, “Sunday Night Football” on NBC, “Monday Night Football” on ABC and ESPN and all of the games that air on the NFL Network. So don’t wait.
Get started with Fubo online now.
How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
How to watch the New England Patriots vs. Miami Dolphins NFL game today: Livestream options, more
How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more