Costco has gained attention for selling gold bars from Swiss and South African refineries, as well as other gold and silver products ranging in price from a few hundred dollars to over $7,500. The company’s precious metals offering is diverse, but finding details can be challenging due to quick sell-outs and the complexity of the website. Members must log in to see prices for in-stock, members-only items, while collectors track products on a subreddit for tips and links.
Despite Costco selling gold bars at low markups from spot prices, coins from the US Mint and Canadian Mint have slightly higher premiums due to collector popularity. For example, gold American Eagle and American Buffalo coins were priced higher than the gold spot price, and silver US Eagle and Canadian Mint coins also had premiums. While Costco doesn’t profit much from gold sales, the company sees benefits in strong e-commerce revenue growth and attracting new members through exclusive items.
Costco’s gold business allows the company to showcase e-commerce revenue growth and keep members satisfied with exclusive items. Costco’s gold and silver products appeal to both experienced and novice investors due to their range of price points. Collectors tracking Costco’s precious metals offerings can find detailed information on a subreddit while benefiting from tips and links shared by other collectors.
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