Costco has ignited a frenzy among its customers as the company started offering 24-karat gold bars, each weighing 1 ounce, for just short of $2,000. This unexpected addition to their inventory has raised eyebrows, considering Costco is traditionally associated with free samples, club cards, and massive portions.
The gold bars, offered in two varieties – one sourced from South Africa's Rand Refinery at $1,949.99 and the other from Swiss supplier PAMP Suisse at $1,979.99, have attracted a lot of attention after shoppers spotted the deal online. Despite the store's reputation for toilet paper deals and giant pizzas, CFO Richard Galanti confirmed they're the real deal during an investors' call on September 26th.
According to the Insider, He said: I've gotten a couple of calls that people have seen online that we've been selling one-ounce gold bars.
"Yes, but when we load them on the site, they're typically gone within a few hours."
To ensure fairness, customers are limited to buying only two bars, but that hasn't stopped the bars from flying off the shelves
Some lucky people who managed to acquire these precious items have shared their thoughts on social media. TikToker @midlifecrisisgirl, for instance, admitted that the gold bars are heavier than thought.
Costco offers shipping via UPS, which includes insurance and requires a signature upon delivery. However, buyers should be certain about their purchase because there are no returns or refunds.
Fortunately, these gold bars have received positive reviews, boasting an average 4.9-star rating.
One person said: I sell them for 10.00 less than they do. You can still get Rand Refinery, but also Valcambi. Maple leaves are only a few dollars more. Definitely a good savings account.
A second said: I live in Prescott Arizona. I think I will just start planning for gold.
A third commented: What can an ounce of gold do when bartered in chaotic times? Stock up on the best gold... Ammunition!
Another said: yeah Costco is EXACTLY where I would be buying my gold...
One satisfied customer wrote on the website, "Happy with my purchase. I would have bought a couple more if Costco allowed." Another commented, "Beautiful Piece of Gold. Brand New! Got What Expected."
For those still trying to get their hands on these coveted gold bars, many are turning to the internet for advice on the best strategies to secure a purchase. According to Gold.co.uk, the bars are priced slightly above the current market rate for gold, which stands at $1,876.12 per ounce as of September 28th.
