Costco customer makes eye-popping $600 profit after re-selling a small item a year later: ‘Surprisingly easy'
A finance influencer who bought a small gold ingot at the big box retailer sold the nugget nearly a year later for an eye-popping $600 in profit, according to a TikTok video with 6.5 million views.
The TikTokker, named Humphrey Yang, had reportedly purchased the one-ounce PAMP Suisse gold bar (yes they sell those there) for $2,359 from Costco in April 2024, per the clip.
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3 Humphrey Yang struck gold at Costco.
Instagram/humphreytalks
He then went and sold it this past March at the bullion dealer Witter Coin in San Francisco for a pretty penny.
3 'I made a profit of $596 over the past 11 months or so,' gushed Yang while describing his earnings (pictured).
Instagram/humphreytalks
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3 Costco outlet in Manassas, Virginia.
Refrina – stock.adobe.com
'Right now, we're paying $2,955.42 [per ounce],' an employee told Yang, who agreed to the deal.
The influencer found the offer more than reasonable given that the spot price — the price at which an asset is valued in the current market based on real-time supply and demand — was around $3,020 and dealers generally purchase at slightly below market value.
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The employee then handed the cash to Yang, who exclaimed 'I made a profit of $596 over the past 11 months or so.' The exact figure was $595.43.
He described the process as 'surprisingly easy.'
While the life hacker may have seemed like he had the Midas Touch, some TikTok viewers claimed that the Costco prospector might've pulled the trigger prematurely.
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'Gold price is probably gonna end up at 8k or something. Don't sell yet,' urged one armchair financial advisor.
Another wrote: 'Wrong time to sell..'
Since Yang hawked his ingot, the price of gold has soared to a staggering $3,300 per ounce with Goldman Sachs upping its year-end forecast for gold from $3,300 to $3,700, Yahoo Finance reported.
The precious metal's skyrocketing valuation came as spooked investors deployed this golden parachute over fears that President Trump's tariffs could spur an economic downturn.
In February, the president's tariff plans even prompted some of the largest banks in the US and Britain to fly gold bars from London to New York City on commercial flights as a hedge against inflation.
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