For many Americans, Costco is the go-to store for bulk purchases of food and household items. However, the retail warehouse has a variety of offerings, including electronics, appliances, and even insurance. Now, they've added gold bars to the mix.
Small and ornately decorated, the 1-ounce gold PAMP Suisse Lady Fortuna Veriscan bars can only be purchased by Costco members via the website and cannot be found in person at a Costco store. “I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars,” Costco Chief Financial Officer Richard Galanti said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.” Each of these bars is minted, individually packaged, registered, and comes with an official Assay Certificate and a digital certification which can be accessed by a QR code. They are non-refundable.
The current price of the Swiss-made gold bars can only be seen by members themselves, but some have confirmed that the price hovers around the $1,900 mark for now. Every time the bars are restocked, it is not long until they run out. Costco has been offering increasing amounts of survivalist foods and kits, so some speculate that these gold bars are serving those customers concerned with extra preparedness. “They’ve done their market research. I think it’s a very clever way to get their name in the news and have some great publicity,” Jonathan Rose, co-founder of Genesis Gold Group, says. “There is definitely a crossover of people living off the land, being self-sufficient, believing in your own currency. That’s the appeal to gold as a safe haven as people lose faith in the U.S. dollar.” At a time when inflation is a concern for many, these gold bars are proven to be another hit product for Costco.
If you're a Costco member, you can purchase your own 1 oz. Gold Bar PAMP Suisse Lady Fortuna Veriscan via Costco's website (as they become available).
Costco members can now purchase gold bars via the online store.
The 1-oz. gold bars are PAMP Suisse Lady Fortuna Veriscan bars.
They are selling for about $1,900 to Costco members and can only be purchased online.
It's no surprise that these bars are selling out quickly.
h/t: [Robb Report]