‘Typically Gone Within a Few Hours’: This $1,900 Costco Product Is Flying Off Shelves

Costco is known for its wide variety of deals and exclusive products, from bulk items to goods only available at the wholesale retailer. However, it’s not just groceries and home goods.

The store sells one-ounce gold bars from Rand Refinery in South Africa and PAMP Suisse from Switzerland for around $1,950 to $1,980. Both products have 4.9-star customer ratings on Costco’s website.

Available only through Costco’s website and exclusive to members, the gold bars come with insured, signed-for air shipping through UPS. However, according to the listings, they can’t be returned or refunded.

^Costco

Despite the hefty price tag, the gold is flying off the shelves, Costco’s CFO Richard Galanti said during the company’s quarterly earnings call on Tuesday. Galanti revealed that these bars are in high demand and rarely stay in stock for long.

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

According to the personal finance platform GoBankingRates, the current estimated price of a one-ounce gold bar is $1,823.34.

^Costco

https://www.entrepreneur.com/business-news/exclusive-1900-costco-item-is-flying-off-shelves/462836