Costco reportedly selling new precious metal: platinum
The warehouse retailer sells other bullion, too
Costco gold buyer Blaine Silverman explains why he jumped on the craze and why investors should consider buying the precious metal.
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. | 919.51 | +12.44 | +1.37% |
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.