Costco Sells Gold – But You’ve Gotta Be Quick!
Costco’s known for its great prices, fantastic (and cheap) hot dogs, and wholesale deals. But recently, the company has made headlines for introducing a whole new type of product to its stores: gold bullion. That’s right – you can now buy gold directly from Costco.
As of this year, Costco sells gold! There are a few important restrictions that you should know before you hop in the car to check out the most unlikely gold dealer on the planet. Costco isn’t the only major grocer to start selling gold, either. In 2018, Sears joined their partner Costco in selling gold and silver on their websites.
Want the low-down on how to load your Costco cart with gold bars? We’ve got you covered!
Does Costco Sell Gold?
The news is out: Costco sells gold, indeed. The company started selling gold bars on their website in early October, and the concept has some customers baffled. When you think of the biggest precious metals dealers on the planet, Costco certainly doesn’t come to mind.
They aren’t alone in trying to expand into the precious metals market. Distributors like Amazon, Walmart, and Sears have also started selling gold online. We’ve yet to see these companies offer in-person gold bar purchases, but it wouldn’t be all that crazy.
For decades, Costco has won a reputation as one of the cheapest wholesale distributors in the United States. Their bulk deals on food and homecare items have frequently gone viral. Because Costco is a members-only club that requires a yearly membership fee, they’re able to offer their customers impressive discounts on the bulk items they need.
How to Buy Gold From Costco
Gold is the latest addition to the company’s expansive inventory. Like all of their items, Costo gold bars are only available to members. Even more importantly, you won’t be able to load up your cart with gold bars by visiting the local Costco store. Costco sells gold now, but it’s quite a bit harder to get your hands on than you might expect.
Member’s Only Gold Bars
While Costco sells gold starting in October 2023, there are a few important restrictions that you should know. First, the gold bars are only available to members. As of now, the Costco membership fee runs about $120 per year. For gold stackers, this might eat into profit – even if it means you’ll get to build your gold stack using a classic American grocery staple.
This might not stop some gold stackers. Since Costco sells gold now, buying it online might be easier than ever before. All you’d have to do is buy a membership, add gold bars to your cart, and wait for them to ship!
Sounds easy, right? But there’s one big catch.
Act Fast – Costco Gold Sells Out Quickly!
Costco sells gold bars, but some members complain that they sell out way too quickly. According to the company’s Chief Financial Officer (CFO), Costco gold bars typically get gobbled up from the site within just a few hours.
This is true, even though the company has already limited purchases to two gold bars per member! Although Costco is known for their bulk deals on grocery items, they might not provide customers with quite the deal they might be expecting.
If you already have a membership and you’re quick enough, Costco sells gold that might find a place in your gold safe or vault.
Costco Gold Bars
For now, the wholesale grocery Costco sells gold bars and offers a limited selection. They aren’t currently selling any gold coins, silver rounds, or other precious metals products. To experts familiar with the industry, it’s likely that Costco is just dipping their toes to get a feel for the market.
If customer interest continues to be high, they’ll probably expand their inventory to include a wider variety of gold, silver, and platinum products. That’s that Walmart did, at least. The company now includes a massive inventory of different precious metals coins, bars, and rounds.
Let’s take a closer look at the two gold bars Costco currently offers.
Pamp Suisse Lady Fortuna
The Pamp Suisse Lady Fortuna is a stunning hit among gold investors – and we don’t have any trouble understanding why. Distributed by Swiss Mint PAMP, the bar features an intricate obverse depicting Lady Fortuna, the female personification of fortune. She holds a cornucopia, which overflows with gold coins.
They keep things simple on the reverse. A stylized version of the PAMP logo sits at the top of the bar, while the bar’s material, purity, weight, and individual serial number rests below their logo.
The Lady Fortuna bar is one of our favorites. It’s minted using .9999 fine gold and features a level of craftsmanship and attention to detail you just don’t see on many other gold bars. Although Costco sells gold bars now, the PAMP Suisse Lady Fortuna bar is one of the only two products they currently offer – and it is members only.
Rand Refinery
South Africa’s Rand Refinery sells some of the best hidden gems in bullion. Their most popular gold bar includes an obverse repeating image of father and son elephants, paying homage to the country’s natural ecosystem and famous animals.
Like PAMP, the Rand Refinery puts their own spin on the classic, simplistic gold bar reverse. At the top, you’ll see their logo and the name of the mint. But instead of just listing the weight, fineness, and material of their gold bar, the mint chose to get a bit creative. All of this info is formatted to look like the periodic table entry for the element of gold, AU.
We love the creativity here. While the Rand Refinery might not have the stellar reputation and history of excellence we see from the South African Mint, their commitment to producing beautiful gold bars continues to build the distributor’s prestige.
Costco sells gold bars from the Rand Refinery. Like we mentioned earlier, they currently only sell two gold bars. Hopefully, the explosive demand for gold from Costco will inspire executives to offer a wider selection in the future.
Is Costco Gold Cheap?
Unfortunately, you won’t find the same massive bulk discounts when you buy gold from Costco that they offer on most of their other products. Generally, they list their gold bars at around the same going rate you’ll find at any other retailer.
Since Costco sells gold, it’s easy to imagine that they’ll give their members incredible deals on the bullion products they love. But don’t expect to buy gold for spot price by buying a yearlong Costco membership from the grocery chain.
We don’t think Costco’s gold bars are unusually expensive, but you’re probably going to find much better deals on gold by working with a smaller online gold dealer. If you’re going to buy gold from Costco as a non-member, remember to factor your membership fee into the total cost of your bar.
Because memberships to Costco cost about $120 each year, you’ll likely really pay about $120 more for the privilege of buying gold from Costco than you would at another online retailer.
Costco Gold Rules and Limitations
Like we explained earlier, Costco sells gold only to existing and new members. However, Costco gold also comes with a couple of additional limitations.
First, purchases are limited to two gold bars per member. Even if you’re quick enough to secure a gold bar before they sell out, you’re limited on the amount of gold you can buy from Costco’s website.
Even more troubling to seasoned investors is the fact that Costco has a no-return policy on their gold products. While they may make exceptions for gold bars that arrive damaged or are stolen in transit, most online gold dealers offer exchanges or returns if you aren’t satisfied with your gold product.
Finally, Costco does not sell gold bars at their physical locations. Instead, you’ll need to make your purchase online. This shouldn’t be too much of a hassle; most grocers that sell gold limit purchases to their website. However, purchasing gold online comes with its own set of headaches and challenges. Instead of putting some gold in your cart and checking out immediately, you’ll need to wait for your Costco gold bars to be shipped.
These are the main limitations we found for the Costco gold project. Costco sells gold to its members now, but they might not be a great alternative to traditional bullion dealers.
Alternatives to Costco Gold Bars
Don’t have a Costco membership? Maybe you’re looking to buy Costco gold bars without investing in a new membership that you probably won’t use for much else.
Although Costco sells gold, some of the limitations we mentioned above might make it harder for committed gold stackers to build their portfolio without breaking the bank on unnecessary fees.
The great news is that Hero Bullion sells both of Costco’s gold bars. Costco sells gold now, but Hero Bullion has been satisfying customers with quality precious metal products for years. We’re happy to help you find the right gold bar for your growing collection, and our prices are always competitive. Costco sells gold bars, but we’re confident you’ll find what you’re looking for right here at Hero Bullion.
Even if you don’t choose to buy from Hero Bullion, our investing guides and resources can help you build your gold collection with confidence.
Final Thoughts: Costco Sells Gold Bars to Members Now
You heard it here – Costco sells gold now! The company entered the precious metals market early last month, following in the footsteps of other wholesale retailers like Walmart and Sears. Although we’re all very excited to check out Costco’s gold bullion bars, some of their limitations make it hard to see them as a genuine competitor to classic bullion dealers.
If you’re set on buying some of the gold bars that Costco sells, consider checking out our inventory. We offer competitive pricing, secure shipping, and all the added tools you need to stack with confidence.
And guess what else? There are no membership fees here!
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About The Author
Michael Roets
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.