Costco Introduces Platinum Bars to Precious Metal Lineup
DOOMSDAY preppers can expect to rush to Costco as the store has revealed a new product joining the chain’s lineup of precious metals. The wholesale retailer is now selling bars of platinum after their 1-ounce gold bars sold out in a few hours when they first went on sale last year.
Platinum Bars – The New Investment Craze
Following the success of the gold bars and silver coins, 1-ounce platinum bars are now available on Costco’s online website. Described as 999.5 platinum, the bars cost a whopping $1,089.99 each. The bar is currently only sold online, with delivery unavailable in certain US locations.
The increase in sales of precious metals at Costco can be attributed to a surge in doomsday prepping, where individuals stock up on valuable assets in preparation for cataclysmic events such as economic crises or social breakdowns. These assets are sought after for their potential to be used for bartering in a post-apocalyptic world.
Insight into Precious Metal Sales
The roll-out of the precious metals has been a hit with Costco shoppers since the store first had trouble keeping the beloved gold bars on the shelves. The retailer started selling silver coins after gold bar sales topped a $100 million profit in the first fiscal quarter, indicating a growing interest in precious metals among consumers.
Wells Fargo estimated in April that Costco sold up to $200 million per month in precious metals, showcasing the increasing demand for these alternative investments.
Jonathan Rose, the CEO of Genesis Gold Group, highlighted that even millionaires and elites were hoarding gold as a hedge against economic uncertainty, showcasing a broader trend of diversification into precious metals. Rose mentioned that gold bars, like the ones sold at Costco, could serve as valuable assets for future bartering purposes.
Diversification in Prepping Strategies
Preppers are opting for small denomination gold and silver coins, which are considered more tradable and barterable assets in times of crisis. Costco’s introduction of platinum bars adds another layer to the diversification strategy employed by those preparing for doomsday scenarios. The appeal of precious metals lies not just in their financial value but their utility in a world where traditional currency may lose its credibility.
Costco’s Range of Doomsday Prep Products
In addition to precious metals, Costco has been making headlines with products tailored for doomsday preppers. The retailer offers doomsday meal prep kits that can last for several years, catering to individuals concerned about sustaining themselves in times of crisis. With a variety of products geared towards survival, Costco is positioning itself as a one-stop-shop for those looking to prepare for worst-case scenarios.
Overall, Costco’s foray into selling precious metals like platinum bars is a response to the growing trend of doomsday prepping and the increasing interest in alternative investments among consumers.
