Platinum bars sold at Costco: Price, and purchase limit

Between September and November 2023, Costco sold more than $100 million in gold bars to excited customers, and now they’re placing their bets on another precious metal. The shop where everything is sold in bulk has added platinum bars to its lineup for buyers. However, there are strict rules in place and people cannot just hop in their Toyota Aygo and whizz down to pick up enough precious metal to build a palace.

Previously, gold bars were priced at $2,000 each and the company quickly made around $100 million for the 24-karat pieces. As well as this, the store also sold silver coins, which were a huge hit with customers.

The 1-ounce platinum bars are available online only to members who can purchase just one per membership. Costo describes them as 1 oz 999.5 Pure Platinum bar with a proof-like finish, saying also that they are Swiss-made by a LBMA Good Delivery Refiner and “each bar is individually controlled, registered, and secured within protective CertiPAMP™ packaging with an official Assay Certificate”.

How much do Costco’s platinum bars cost?

At the time of writing, the Costco platinum bars are listed for $1,089.99, with the price only available to view for members. There is a limit of one purchase per Costco member, with a five-bar maximum per transaction.

The shop website also points out that delivery is not available to Puerto Rico, Nevada or Louisiana.

CBS points out that platinum, which is used in jewelry as well as for industrial items such as catalytic converters, has seen its price “increased by about 16%, compared with a 42% gain for gold”. The outlet adds that Platinum’s current spot price is $1,004 an ounce, according to FactSet, meaning that Costco’s price is about 8% higher than the market value at the time of writing.

It seems that the platinum bars are already a fan favourite, with reviews flooding in for the metal: “This is a fantastic way to collect platinum”, wrote one buyer, ”The price was a lot higher than spot which was strange when compared to their gold offerings. It would be great if they offered platinum coins - either Maple Leafs or American Eagles.”

“Platinum is a great investment, at some point it was more expensive than gold and you just never know maybe one day it takes over again, can’t go wrong with Pamp”, wrote another.