In recent years, Costco has been making waves in the precious metals industry with its exclusive range of gold and silver products. With options ranging from a few hundred dollars to over $7,500, the items are highly sought after by collectors and investors alike.
One of the things that sets Costco apart is the fact that its gold bars are sourced from Swiss and South African refineries, ensuring their high quality. These 100-gram bars of 24-karat gold sell out quickly and can only be purchased by members who have logged in to see prices for in-stock, members-only items.
Despite the fact that Costco’s gold business may not bring in much profit, it is an important part of the company’s e-commerce strategy. The exclusive items also help keep existing members happy and attract new sign-ups. However, due to its popularity with collectors, it can be difficult to find information about Costco’s precious metals offering. That’s why many collectors have turned to a subreddit where they share online links and tips about local warehouses with supply.
For example, one-ounce gold American Eagle and American Buffalo coins were available for $2,399 each on the subreddit, while the gold spot price was $2,300. A 20-pack of one-ounce silver US Eagle coins was priced at $689 on the subreddit, while a set of 25 one-ounce silver coins from the Canadian Mint was priced at $809 on the subreddit, compared to a silver spot price of $29 per ounce.
Overall, Costco’s gold business may not bring in much profit but it helps keep existing members happy and attract new sign ups