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Gold bars: "Usually sold out after a few hours"


Siphiwe Sibeko / REUTERS

If you want to buy or sell gold, you usually turn to specialized dealers or your bank. In the U.S., interested parties can now go another way – and contact the supermarket chain Costco. This has recently been offering fine gold bars.

Costco CFO Richard Galanti announced this a few days ago rather casually. According to US media, he said on a conference call that he had received "a few calls" from people who had seen the offer of one-ounce gold bars online. The offer is limited because of the great success. "When we put them on the website, they're usually gone within a few hours." That is why it is not possible to buy more than two pieces. Subsequently, Galanti reportedly changed the subject.

In fact, Costco offers gold bars in its webshop – and even in two varieties. Just as if it were the usual offer of the market like knife blocks or hoodies, which are on sale these days. However, the company does not immediately reveal the price of the gold and whether it is currently in stock – a paid membership is necessary for this information: As with the German wholesaler Metro, for example, a purchase at Costco is only possible with such a customer card.

There seems to be at least one Costco member on the editorial board of the New York Post. According to the newspaper, both bars were last available for just under $2000. This is not far from the price at which a troy ounce is currently available on the markets – except that there are often additional fees charged by precious metal traders.

Whether the gold bars will also be delivered to customers outside the country, Costco does not reveal on the page of the offer. However, there is general information in the webshop that membership is also possible for people outside the USA – but they would need a US delivery address.