The company is selling two options online for just under $2,000: a 1-ounce gold bar from Rand Refinery and a 1-ounce gold bar from PAMP Suisse, but they’re only available to Costco members and have been on sale since Popular, the company was forced to limit the quantities customers could buy.
Costco membership starts at $60 per year.
The appeal of gold
according to Costco’s websitePAMP Suisse gold bars are made from 24-karat gold, with the retail giant touting the Swiss-made product as having a “refined finish.”
costco
“Each chocolate bar is individually controlled, registered and secured within CertiPAMP™ protective packaging and comes with an official test certificate and a digital certificate accessible via a QR code. Each test card is covered with a Thin removable protective film,” the company said.
Only two gold bars can be purchased with a single membership and are non-refundable.
Spot gold, often used by investors as a hedge against geopolitical and economic turmoil, was trading around $1,875 an ounce on Thursday morning; the precious metal has experienced volatility so far this year.
With the addition of chocolate bars to its lineup, Costco appears to have inadvertently sparked a gold rush, with customers clearing their shelves of chocolate bars and complaining online about how difficult it is for them to find them.
During an earnings call on Tuesday, Costco Chief Financial Officer Richard Galanti said the bars were sold out within hours of becoming available, prompting people to limit where they could buy them number of customers.
“I’ve gotten a few calls from people who saw online that we’ve been selling 1-ounce gold bars,” he said. “Yes, but when we load them onto the site they usually disappear within a few hours, and we limit them to two per member.”
A Costco spokesperson could not immediately be reached when contacted. wealth.
Social media complaints
In recent months, potential buyers have been taking to Reddit to complain that they can’t get their hands on one of Costco’s coveted gold bars.
“Saw it for the first time in bed last night but missed it when I woke up in the morning and started the checkout process,” one Reddit user commented a forum About the bar. “If you really doze off, you lose.”
In a recent TikTok video, a woman told the story of how she “hoarded” Costco gold bars.
@midlife crisis girl #CapCut Here is an unboxing of a solid gold bar I bought at Costco. #costcofinds #costcojewelry #unboxing ♬ Original Sound – Angel in Midlife Crisis
“I was researching Costco to see if they had new gold (jewelry)…so I typed gold into the website and it showed gold bars,” she said, holding up two Rand Refinery pieces she “impulsively” bought for nearly $4,000. bullion.
Some Costco stores in Asia also sell gold bars, according to some social media users.
A TikToker took to the video-sharing platform to show off chocolate bars on display at a Costco store in South Korea, which appear to be selling for upwards of $2,100. wealth The content of the video could not be independently verified.
@skim cheese Gold bars and Gucci at Costco in Seoul 🤑🤑 #costco #Seoul #South Korea #Gucci #luxurious #koreaskincare ♬ License to dance – BTS
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