Costco Gold Bars Sell Out in Hours as Investors Seek Precious Metals

Investors and Costco members alike are flocking to the retail giant’s website to purchase one-ounce gold bars, causing the coveted items to sell out within hours of being listed online. Costco’s Chief Financial Officer, Richard Galanti, made the revelation during the company’s fourth-quarter earnings call, shedding light on the surging popularity of the investment opportunity.

The gold bars are offered exclusively to Costco members through the company’s website, and each member is limited to purchasing up to two bars per transaction. According to Galanti, these gleaming investments are “typically gone within a few hours” of becoming available.

Costco provides its members with a choice between two renowned suppliers for their gold bars: the South African-made Rand Refinery and the Swiss-made PAMP Suisse Lady Fortuna Veriscan. When in stock, the 24-karat gold bars from Rand Refinery are priced at $1,949.99, while the Swiss alternative, PAMP Suisse, comes in at $1,979.99.

Both options have received stellar reviews from Costco members, boasting an average rating of 4.9 stars on Costco.com. Satisfied purchasers have lauded the quality and design of these precious bars. One reviewer of PAMP Suisse remarked, “Purchased a gold bar recently and couldn’t be happier with my investment. The bar arrived promptly with impressively quick shipping. Upon inspection, it was immediately evident that the bar was in impeccable condition.”

Reviewers have also praised the Veriscan technology employed by PAMP Suisse, which allows for easy verification of the bar’s authenticity, a valuable feature in a market often plagued by counterfeit items.

While the open market value of a one-ounce gold bar currently stands at $1,825, according to Markets Insider, Costco ensures its gold bars are individually controlled, registered, and securely packaged with an official Assay Certificate and a digital certificate accessible through a QR Code. Each bar also comes protected with a thin removable film.

The buzz surrounding Costco’s non-refundable gold bars has spilled over onto social media platforms like TikTok, where users have shared their excitement about the sought-after item. Multiple Reddit threads have been created by wholesale members discussing their experiences and strategies for securing these limited-edition bars.

As of now, the hot-ticket item is out of stock on Costco.com, leaving eager investors and members awaiting the next opportunity to purchase their share of precious metal. Meanwhile, other online retailers continue to offer gold bars in various sizes and at different price points, catering to a growing demand for precious metals among investors and collectors alike.