Costco has started selling platinum bars and coins for its members in what appears to be an expansion of its already robust precious-metals business.
Starting last year, the retailer began selling both gold bars and silver coins through its website.
How Much Are the Bars and Coins?
The Kirkland, Washington-based retail giant started selling one-ounce Canadian Platinum Maple Leaf coins for $1,089.99 this week via its website, according to an Epoch Times review. A membership with Costco is required to purchase the item.
Costco is also selling Swiss-made one-ounce platinum bars for $1,089.99 via its website, also requiring a Costco membership, which was rolled out on Costco’s website this week.
The bars, which are described as 999.5 pure platinum, are manufactured by PAMP and feature an image of Lady Fortuna, the Roman goddess of prosperity, according to the maker’s website. PAMP has earned a Good Delivery accreditation from the London Bullion Market Association, a trade group for the precious metals industry.
How Many Can You Buy?
For both the bars and coins, Costco said it is limiting members to one transaction with a maximum of five units.
Customers cannot return the bars or coins after they purchase them, and delivery isn’t available in Nevada and Louisiana, according to a review of the company’s website.
Other Metals
Costco started selling 1-ounce gold bars in the fall of 2023 and has been doing a brisk trade of up to $200 million monthly, according to Wells Fargo estimates in April. When they appeared on Costco’s website, the bars retailed at around $2,000 per ounce.
Like the platinum bars and coins, the gold bars require a membership. They’re also made by PAMP and are described as a “999.9 fine gold minted bar with a proof-like finish.”
The big-box chain also sells silver coins to its members. When they were rolled out in March, the company was offering a 2024 one-ounce American Eagle Silver Coin in a pack of 20 for members as well as a one-ounce Canadian Maple Leaf Silver Coin in a pack of 25 for about $680.
Precious Metals Surging
While the price of platinum has remained flat for most of 2024, it has increased by about $87 per ounce since Oct. 26, 2023, data show. Currently, it’s trading at about $991 per ounce as of Friday, Oct. 4.
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