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Costco is selling platinum bars following the success of gold and silver

Posted on by Kennedy
Costco is selling platinum bars following the success of gold and silver

The company sold over $100 million worth of gold bars in a three-month period between September and November 2023. You can bet that platinum will do just as well, although not everyone can order them.

The store, which sells everything in bulk, is selling more precious metals as Costco expands its inventory to include platinum.

The 1-ounce platinum bars are now available online for members. This is not the first time the store has sold precious metals. They sold silver coins and gold bars that sold out like hotcakes.

The company sold over $100 million worth of gold bars in a three-month period between September and November 2023. The 1-ounce, 24-karat gold bars were priced at about $2,000.

The company describes the new platinum bars as 999.5 pure platinum, made in Switzerland. The refiner has also received Good Delivery accreditation from the London Bullion Market Association, an international trade association with ties to the precious metals industry, the company said.

Here's what you need to know about Costco's newest precious metal and how you can get your hands on it. That is, if you live in the right states.

How much are Costco platinum bars?

The platinum bar offered by Costco retails for $1,089.99. The bar is only sold online and is available for purchase. However, delivery is not available in Nevada, Louisiana and Puerto Rico.

According to Costco, the bar will arrive three to five days after ordering and there is no option to return or refund the platinum bar order.

How many Costco platinum bars can I buy?

There is a limit of one purchase per Costco member, with a maximum of five bars per transaction.

Costco recently increased membership prices

Last month, an increase in membership prices took effect at the store, the first increase since 2017. Annual membership fees rose from $60 to $65 for Gold Star memberships in the U.S. and Canada.

On the other hand, Executive memberships at Costco increased from $120 to $130, with the maximum annual reward share of 2% of the Executive membership increasing from $1,000 to $1,250.

Contributor: Saleen Martin

Fernando Cervantes Jr. is a featured news reporter for USA TODAY. Reach him at [email protected] and follow him on X @fern_cerv_.

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