A savvy Costco shopper showed his TikTok following how he made a tidy profit off of a gold bar he purchased at the bulk retailer.
Humphrey Yang makes personal finance and investing videos for his 3.4 million TikTok followers. In a recent video that went viral to the tune of 6.5 million views, Yang reveals how much he made in profit when he sold the gold bar be purchased from Costco in the spring of last year.
Yang reveals that he purchased the PAMP Suisse gold bar from Costco in April 2024 for $2,359. In March, he took the bar to a Bay Area establishment called Witter Time, which purchases gold and silver and sold it for $2,955.
That price includes a shop fee of about $130. As he completes the transaction, the clerk estimates the shop is currently seeing a 6-1 seller to buyer ratio. The shop purchases between five and 10 of these bars every day.
At the end of the day, Yang is happy with his profit of $596. Some users in his comments, however, said Yang made a bad investment decision. In their minds, he should’ve waited for the price to go up even further.
“Selling now is silly,” one viewer wrote. Another joked, “$595 of profits in the last 11 months. He now has [enough] for a carton of eggs.”
According to this Investopedia article from April 28, Yang’s audience might be right. Not long after he posted the video, the price of gold peaked at $3,500 per ounce. And it might go up even higher. Maybe that’s why a wise man once (or several times) said this turn of phrase.
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