'Typically Gone Within a Few Hours': This $1,900 Costco Product Is Flying Off ShelvesCostco only offers the exclusive product online to members.
Key Takeaways
- Costco is selling gold bars that cost around $1,950 to $1,980.
- The wholesaler provides insured air shipping but doesn't accept returns.
Costco is known for its wide variety of deals and exclusive products, from bulk items to goods only available at the wholesale retailer. However, it's not just groceries and home goods.
The store sells one-ounce gold bars fromRand Refineryin South Africa andPAMP Suissefrom Switzerland for around $1,950 to $1,980. Both products have 4.9-star customer ratings on Costco's website.
Available only through Costco's website and exclusive to members, the gold bars come with insured, signed-for air shipping through UPS. However, according to the listings, they can't be returned or refunded.
Costco
Despite the hefty price tag, the gold is flying off the shelves, Costco's CFO Richard Galantisaidduring the company's quarterly earnings call on Tuesday. Galanti revealed that these bars are in high demand and rarely stay in stock for long.
"I've gotten a couple of calls that people have seen online that we've been selling one-ounce gold bars," he said. "Yes, but when we load them on the site, they're typically gone within a few hours, and we limit two per member."
According to the personal finance platformGoBankingRates, the current estimated price of a one-ounce gold bar is $1,823.34.
Costco
