Costco
Come for the hot dogs, leave with precious metals: Costco just introduced 1-ounce platinum bars following the massive success of its gold bars. With platinum prices up about 15% in the past year, smart shoppers are snagging these bars as they shop online, showing that Costco is becoming a hub for savvy investors. Here's everything you need to know about the company's latest addition.
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In 2023, the discount retailer introduced a line of precious metals, including gold bars and silver coins. The 1-ounce, 24-karat gold bars, priced at about $2,000, sold like hotcakes and flew off the virtual shelves mere hours after listing. In a three-month period — between September and November 2023 — Costco sold $100 million worth of gold bars.
Following its success with gold, Costco recently introduced1-ounce platinum barsfor $1,089.99. These bars are 999.5 pure platinum, Swiss-made, and certified by the London Bullion Market Association (LBMA).
Costco members can find the shiny new investment exclusively online. Note that delivery is not available in Nevada, Louisiana, and Puerto Rico.
Costco is limiting customers to one purchase per transaction, with a maximum of five bars. So if you want to stock up, you’ll need to be strategic.
While platinum hasn’t surged as dramatically as gold, it’s still a valuable investment. Prices have increased about 15% over the past year, but gold has outpaced it with a 44% rise. Platinum is currently valued at around $973 per ounce.
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