Costco Now Selling Platinum Bars
October 16, 24
(IDEX Online) - Costco is now selling 1oz platinum bars online to its members, priced at $1,089.99.
The move, by the world's third-largest retailer, follows its introduction of 1oz gold bars last August. They're available in-store as well as online, and were priced, as of last week, at $2,689.99.
As demand for precious metals continues to rise, Costco is positioning itself as a trusted point of purchase for customers would otherwise be unlikely to invest.
Gold prices have surged by 29 per cent since the start of 2024. Platinum has been more volatile and is currently up 7.6 per cent. It was trading at $979.42 yesterday (15 October).
Costco's online listing describes its 1 oz Platinum Bar PAMP Suisse Lady Fortuna Veriscan (New in Assay), as 999.5 pure platinum. It is non-refundable and subject to a limit of five bars per paying Costco member.
The company sold more than $100m of gold bars in the first quarter of 2023 and went on to add $675 silver coins.
Pics courtesy Costco.