Costco reportedly selling new precious metal: platinum
The warehouse retailer sells other bullion, too
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Costco has reportedly jumped into selling a new precious metal.
The warehouse retailer’s website has a 1-ounce PAMP Suisse Lady Fortuna Veriscan platinum bar listed as a product, Fortune reported Wednesday.
It reportedly marks the latest precious metal that Costco has offered after gold bars and silver coins.
A Costco store in Bayonne, New Jersey, on Dec. 9, 2023. (Angus Mordant/Bloomberg via Getty Images / Getty Images)
FOX Business reached out to Costco for comment about the platinum bars.
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The product listing said the platinum bars have a one-transaction, five-unit limit for Costco members.
Customers cannot return the bars once they purchase them, with delivery not available for the states of Nevada and Louisiana, Fortune reported.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 971.88 | +10.33 | +1.07% |
Costco is charging $1,089.99 for each platinum bar, according to the outlet.
The retailer’s website showed reviews of the precious metal product dating back two months.
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Costco members have rushed to get their hands on the retailer’s gold and silver bars in the past.
In September of last year, then-CFO Richard Galanti told analysts and investors that the retailer’s gold bars were "typically gone within a few hours" after getting put on Costco’s website.
The Costco logo displayed on a laptop screen and a small shopping cart are seen in this photo taken in Krakow, Poland, on Feb. 22. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
The retailer has also credited the gold and silver bullion with helping give its online sales a boost in recent quarters.
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Costco has said its e-commerce "provides a broader selection of merchandise that complements our warehouses." Generally, it has a roughly 4,000-item in-store selection.
The retailer had 136.8 million Costco cardholders who were members of its network of 891 locations around the world at the end of its fourth quarter.