After finding runaway success with gold, Costco adds an even more precious metal to its offerings
Costco is going platinum.
The wholesale retailer — which has gotten a massive boost from peddling gold bars — announced Wednesday it will sell 1-ounce platinum bars on its website for $1,089.99 each.
The company will also sell a 1-ounce Canada maple leaf𝔉 platinum coin for🦋 the same price.
The bars and coins are available online only and cannot be♚ del🌼ivered to Louisiana, Nevada or Puerto Rico, the company said.
They are not eligible for returns or refunds.
Buyers must be have a Costco membership – which costs between $65 to $130 a year.
The value of platinum has increased more than 15% over the past 12 months, closing at $1,01♛9.60 an ounce Wednesday.
Costco’s precious metal business has proven to be 𓄧surprisingly lucrative for the Issaquah, Wash.-based company since it began offering 1-ounce gold bars in August 2023.
In April, Wells Fargo analysts estimated that Costco has sold up to $200 million worth of the 24-karat gold bars a month.
“I’ve gotten a couple of calls that people 🧸have seen online that we’ve been selling 1-ounce gold bars,” then-CFO Richard Galanti said on the company’s earnings call last September. “When we load them on the site, they’re typically gone within a few hours, and we limit two per member.”
The value of gold has soared more than 45% over the past year and💞 has spiked nearly 80% in the last five years, .
It closed at $2,679.90 on Wednesday.
