Posted on 09/27/2023 8:09:41 PM PDT by algore
Fanatical Costco customers have been sent scrambling in recent weeks after a surprising product became a best seller - gold bars.
The brand is known for its out-of-the box range of bargain items, from titanic tubs of Nutella to caviar and saunas.
Now, in a surprising turn, a range of gold bars available online has seen customers clambering to get their hands on one of the nuggets - with two options weighing just 1 oz and costing in the region of $1,950.
The gold rush came as Costco pleased investors with promising quarterly returns this week.
On the earnings call Tuesday CFO Richard Galanti confessed: 'I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars.'
'Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member,' he added.
While the bars appear to be only online in America, TikTok creators have revealed that Costco locations in Korea have the items on shelves - with images showing some going for up to $79,000.
The race to land one of Costco's gold bars has been bolstered by the raw materials' intrinsic value in the economy, seen by many as a long-term investment that can survive economic dips.
Amid a dwindling economy, banks have upped their supplies of gold as they hedge their bets against inflation.
Costco has seemingly seized this moment, rolling out two 24-karat varieties of gold bars from Rand Refinery, for $1,949, and PAMP Suisse, for $1,979.
Both bars are reportedly valued slightly more than gold futures, which on Wednesday sat at $1,890.70 per oz.
(Excerpt) Read more at dailymail.co.uk ...
Even worse they do not have Combo Pizzas anymore.
Gold bars are not nuggets.
Oh, I knew I forgot to buy something this week......🤦♂️
> While the bars appear to be only online in America… <
Well, that doesn’t seem right. How will the peaceful shoplifters and looters get their fair share?
I guess they’ll have to wait around for the UPS trucks. But that’s really hit or miss. You could get a couple gold bars. Or you could get some old lady’s knitting yarn order.
Well ... you never know when you might need to take care of some lobbying business with Bob Menendez. Best to stock up. Never hurts to have a stash handy.
Do they come in a commemorative box with Bob Menendez’s picture on it?
The DXY (US Dollar index) has been going up lately, which has resulted in the price of PMs dropping.
As I write this the price of gold is $1874.40 and silver is $22.46.
Now that’s funny!
“Unfortunately I have never seen gold bars, or even silver eagles at my local Costco.”
Go visit a local coin shop. You’ll see plenty.
Gold mining rural Nevada salutes you, Costco! Keep up the good work!
Even worse, I went today to get Mexican Cokes and they didn’t have any. :/
They do have a $4000 Scotch behind a bad wafer lock case. Mrs. Slim glares at me when I mention this.
How are they verified to be solid gold?
That’s a great shirt!
No listing for the gold bars for my Zip Code (California)...probably sales tax “issues”...California has NO sales tax on gold/silver “bullion” over $1,500.00 in value purchased in one transaction. Too hard for the Costco computers to figure out I guess.
They do have a nice $75K necklace available online tho:
I thought Costco was famous for its rotisserie chicken, not gold bars?
How much for a 24 pack of Mexi-Coke at Costco these days?
It’s crazy high lately at Smart & Final, like $34 or something like that. I used to buy it at Costco but no longer a member due to a dispute over a TV return.
And the other vendor?
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