Costco is renowned for its wide range of precious metals, with a focus on gold bars from Swiss and South African refineries. However, the wholesale club offers much more than just gold bars. To make it easier for collectors to keep track of Costco’s gold and silver offerings, a group of enthusiasts created a subreddit where they share links to online listings and offer tips about local warehouses with available supply.
Items range in price from a few hundred dollars for a tube of silver coins to over $7,500 for 100-gram bars of 24-karat gold, appealing to investors of all levels of experience. While Costco typically sells gold bars at a low markup from the market spot price, coins from the US Mint and Canadian Mint command a slightly higher premium due to their popularity among collectors.
For example, one-ounce gold American Eagle and American Buffalo coins were available for $2,399 each, compared to the gold spot price of $2,300. Silver coins such as a 20-pack of one-ounce silver US Eagle coins for $689 and a set of 25 one-ounce silver coins from the Canadian Mint for $809 were also available, reflecting the silver spot price of $29 per ounce.
Although Costco does not profit significantly from its gold business, selling hundreds of millions of dollars in gold through its website demonstrates strong e-commerce revenue growth. Additionally, the exclusivity of these items helps retain existing members and attract new sign-ups, making it a win-win situation for both the company and its customers.
