At the store where everything is sold in bulk, more precious metals are being sold as Costco adds platinum to its lineup. The 1-ounce platinum bars are now available online to members. This expansion into precious metals comes after the success of selling out silver coins and gold bars previously. Costco reported selling over $100 million in gold bars between September and November 2023, with the 24-karat gold bars priced at around $2,000.
Platinum Bars from Costco: What You Need to Know
The new platinum bars offered by Costco are described as 999.5 pure platinum made in Switzerland. The refiner has obtained the Good Delivery accreditation from the London Bullion Market Association, an internationally recognized trade association in the precious metals industry. This accreditation adds a level of trust and quality assurance to the platinum bars being sold by Costco.
How much are Costco’s platinum bars?
Costco’s platinum bars are retailing for $1,089.99 and are available for purchase exclusively online. However, delivery to Nevada, Louisiana, and Puerto Rico is not available. The estimated delivery time for the bars is between three to five days after the order is placed. It’s important to note that there is no option for returns or refunds for platinum bar orders.
Insight: The addition of platinum bars to Costco’s product lineup indicates a growing interest in investing in precious metals. Platinum is known for its rarity and various industrial applications, making it a valuable asset for investors looking to diversify their portfolios.
How many Costco platinum bars can I buy?
Costco has set a limit of one purchase per member, with a maximum of five bars per transaction. This restriction ensures that more members have the opportunity to acquire the platinum bars and prevents bulk buying that could lead to shortages for other interested buyers.
Costco Increases Membership Prices
In addition to offering platinum bars, Costco recently implemented a membership price increase, the first since 2017. Gold Star membership fees in the United States and Canada rose from $60 to $65 annually. Executive memberships also saw an increase from $120 to $130, with the maximum yearly reward increasing from $1,000 to $1,250.
The introduction of platinum bars at Costco presents members with a new investment opportunity in precious metals. With the store’s track record of success in selling silver coins and gold bars, the addition of platinum bars further diversifies Costco’s product offerings and caters to members looking to expand their investment portfolios.
