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Costco is selling gold bars: How much do they cost and how can you buy them?

The supermarket chain has started selling gold bars, proving to be a big draw for buyers looking for a ‘gold-standard’ more secure than the floating dollar.

La medida que tomará Costco para evitar que compartas membresía
Xinhua News AgencyGetty Images

You can pretty much get anything in bulk from costco and if you want to make yourself look like a US senator (allegedly) then pick up some gold bars there.

According to reddit they cost the low, low price of $1,900 for an ounce of the stuff.

“I’ve gotten a couple of calls that people have seen online that we’ve been selling 1 ounce gold bars,” said from Costco Chief Financial Officer Richard Galan. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.”

They can only be bought online, which costs at least $60 a year.

Why is gold useful to have?

Gold has maintained its value over centuries. Unlike paper currencies, which can lose value due to inflation or economic instability, gold has maintained its value over time. It can serve as a way to preserve wealth outside of bank control.

During times of economic or geopolitical turmoil, investors often turn to gold as a safe haven asset. It is considered a form of financial insurance because its value tends to rise when other investments are underperforming or when there is uncertainty in the markets. What better time to pick it up now in an era of higher-than-wanted inflation and very high interest rates.