I just added a new calculator to the Calculators page. It is tentatively titled the Costco Gold Profit Calculator. I wrote this calculator in with Pure in my mind but can be used for other resellers.
This calculates the estimated profit given:
- The current cost of the gold bars at Costco.
- Your selling price.
- The reseller’s cut %.
- The total cashback % you get on the credit card used for the purchase.
- An optional 2% cashback if you have a Costco Executive Membership and haven’t reached the $62.5k annual cap.
- The number of bars you are reselling.
Pure’s Cut. For Pure, if you are new then you pay a 0.75% — this is Pure’s cut; after a short while the fee is then reduced down to 0.7%.
Costco Executive Membership. If you have a Costco Executive Membership then you get an extra 2% cashback on the gold, and you’d type a “2” in the calculator in that case — otherwise leave blank or type in 0. The 2% discount with the executive membership is capped annually at $62.5k in purchases.
How to resell gold? For more information on gold reselling with Pure, watch Chris Hutchin’s recent podcast where he interviews Trey Benedict — the CEO of Pure Technologies.
What I am doing now with Gold. I don’t currently resell gold but am highly interested in it. I created this calculator with the help of a friend who does actually purchase gold from Costco to resell to Pure. I created it so I can type in different figures to see the profit potential.
Link Generation. As with most of my calculators here on my blog, you can click generate a link at the bottom of the calculator page to have it generate a link to the calculator with all your figures pre-populating the calculator. It’s a great too for callaboration, such as with friends in Discord chat.
Example generated link: https://cashbackcow.io/costco-gold-profit-calcutor/?barcost=2679.99&sellprice=2653&rcutrate=0.7&ccrate=4&emrate=2&nbars=10