Costco Limits Gold Bar Buys
Issaquah warehouse retailer began selling the bars two years ago
If you’re thinking of adding gold to your financial portfolio during a time of economic uncertainty, don’t plan on making a big buy at Costco. The popular Issaquah-based warehouse retailer just put a limit on gold bar purchases.
Costco began selling gold bars in 2023. It’s estimated that the company sells more than $100 million worth of gold bars every month. The limit is now one bar per transaction, with a maximum of two purchases over 24 hours. The company’s website says there a “Limit of 1 Transaction Per Membership, with a Maximum of 2 Units Per 24 Hours.”
Gold prices are skyrocketing. They’re up 32% the past year.
Only members have access to the bars. On its website, Costco lists a one-ounce, 24-karat Gold Argor Heraeus Kinebar bar for $3,000. The bar is 999.9% pure gold. Various news outlets have reported that up to 77% of locations across 46 states have sold out of the bars within a week.