Shop Gold at Costco Online and at Business Center.

If you prefer an in-person shopping experience, you may also find gold available for purchase at specific locations, like the Costco Business Center in Salt Lake City, Utah. While there, you might encounter gold bars behind the counter and even a display in the jewelry section. Please note that it’s essential to be aware of purchase limits; typically, it’s capped at two per membership number. Some clever shoppers might choose to use multiple membership numbers to acquire more than two bars.

Do Costco still selling gold online?

Costco has become a sought-after destination for savvy precious metal shoppers, but thoses gold coins and ingots quickly selling out its gold and silver offerings. Shoppers keen on acquiring gold and silver from Costco closely monitor the subreddit r/CostcoPM for updates on availability. I try also to maintain alerted my lesctors by the way . The retailer, known for its popular 24-karat gold bars, has recently introduced 2024 Canada Maple Leaf silver coins, attracting both investors and collectors.

The scarcity of these precious metals on Costco’s shelves adds an element of strategy for buyers, with dedicated shoppersdo have monitoring the site for restocks and special banners on the homepage. The surge in interest underscores the retailer’s influence in the precious metals market, with shoppers actively engaging in the race to secure these coveted items.

The silver coins, priced at $625 for a pack of 25 one-ounce coins, feature an image of King Charles III and a maple leaf, with a face value of $5 Canadian. Available exclusively on Costco’s website, these coins have seen high demand, contributing to the company’s booming e-commerce sales. Chief Financial Officer Richard Galanti noted that the surge in online sales was driven by the popularity of gold and silver purchases.

While gold prices have reached all-time highs, silver’s stable value and affordability have attracted attention. Costco’s shoppers, however, seem to favor gold, as indicated by product ratings. Some silver customers have expressed concerns about shipping, reporting unsealed cases leading to coin damage. Costco’s policy limits each member to five cases, with a one-time purchase opportunity, and returns or refunds are not accepted.

The spot price is lower than that of 99.99% of online dealers and local coin shops (LCSs).
You can also get 2-5% cash back using a credit card.
There’s potential for an additional 2% cash back if you’re an executive member.
They offer 1-day express shipping with no shipping fees. I challenge you to find an online dealer, even on platforms like eBay, Amazon, or Walmart, that can match that speed.
Rest assured of the item’s authenticity.

But is it worth purchasing one?

Costco offers two variations: the PAMP Suisse Lady Fortuna Veriscan bar and one from South Africa’s Rand Refinery. Both are crafted from 24-karat gold and arrive with certificates of authenticity.

The Veriscan bars, as detailed on Costco’s site, undergo individual control, registration, and secure packaging via CertiPAMP. They include an official Assay Certificate and a digital certificate accessible through a QR Code. On the other hand, the Rand Refinery bars boast individual stamping with unique serial numbers and are packaged within sealed assay cards.

When it comes to selling them, seeking local buyers typically yields prices close to the spot price. Alternatively, online platforms like the US Gold Bureau exist, but shipping and insurance costs around $25.

For Costco Executive Members, there’s a 2% reward for such purchases, and credit card rewards can add another 2% cash back at least. Remember, certain states impose taxes on these transactions; you can verify specific tax rules by state here. Although Costco solely accepts Visa for in-store payments, online transactions support Visa, Mastercard, and Discover cards.

Many online gold retailers also impose higher fees for credit card transactions.

Therefore, this represents an advantageous offer for these gold bars. The additional cost associated with the purchase is commonly referred to as a premium, and Costco’s premium is quite reasonable, positioned towards the lower end of the spectrum. Enthusiasts often acquire Costco’s supply of these bars when the premium is slightly lower. When combining the 2% cashback from an Executive Membership with rewards from a credit card, it is possible to obtain gold at a price lower than the spot rate over the long term (usually within a year or less, upon receiving the 2% rebate check from Costco).

It should be noted that this particular deal is significantly more expensive than the 1oz option. Furthermore, it is one of the few items for which returns are not permitted.

However, this gold product comes with a caveat:

it cannot be returned, a departure from typical retail practices. To access this unusual supermarket commodity, one must hold a Costco membership, priced between $60 and $120 annually. Despite alternatives in specialized precious metal markets, Costco’s offer remains highly appealing, leading to swift depletion upon each new batch release. The exclusivity and competitive pricing have aligned Costco with other gold sellers, marking a shift in their pricing strategy to meet market standards, including a 2% executive membership rebate, which has garnered attention.

After exploring the American Costco deals, it’s time to investigate what the UK Costco has to offer.

There are just two options available: 50 and 100-gram ingots. Millman proposed that Costco’s capability to introduce new products to consumers, combined with economic uncertainty in the OK, might be the driving force behind the excitement.

Millman explained, “The demand can be attributed to the fact that for much of the year, people have been concerned about the stability of the banking system. There has been a lot of worry that monetary policy could lead the world into a recession.” He further added, “Whenever there is fear or anxiety in the financial market, investors tend to turn to gold as a safe haven.”

Coins enjoy a tax advantage by being exempt from Capital Gains Tax (CGT), but this tax exemption doesn’t extend to gold bars.

When it comes to certain gold and silver bullion, CGT is indeed applicable. According to the IRS, gold bars and coins that are not considered legal tender fall under the category of ‘collectibles’ for income tax purposes.

The tax treatment varies depending on the duration for which you hold the gold. If you decide to sell the gold within a year of acquiring it, any profits will be subject to taxation as ‘ordinary income.’ However, if you hold onto it for a year or more and then sell it, the gains will be classified as ‘long-term capital gains.’ As of the time of writing, the tax rate for long-term capital gains is set at 28%.

The value of gold has been acknowledged worldwide for millennia, and consequently, many individuals today view it as a secure investment capable of withstanding economic turbulence, including the collapse of the pound.

Acquire British gold coins free from Capital Gains Tax (CGT).

For most UK investors, it is strongly recommended to consider purchasing gold Sovereigns and Half Sovereigns for smaller units, while Gold Britannia coins are ideal for larger 1oz units. Both of these British gold coins enjoy exemption from Capital Gains Tax, providing investors with unparalleled flexibility.

For those affluent gold investors with substantial sums to allocate to gold, Sovereigns and the Gold Britannia coin represent the perfect choice. To emphasize the potential advantages of investing in British gold coins, it’s worth noting that if the gold price were to continue rising and an investor chose to retain their gold holdings, the tax savings could become even more substantial.

Costco currently offers 1-ounce bars of nearly pure 24-karat gold.

though the exact price isn’t available to non-members online. Estimates suggest that the product typically sells for approximately 2% above the spot price, which stood at about $2,357 per ounce as of Tuesday, April 11, 2024. This would place Costco’s price just over $2,400. In 2024, gold has seen a significant uptrend, with spot prices climbing over 13%. This surge is attributed to persistent inflation since 2022 and investor concerns regarding the deteriorating U.S. fiscal condition. The government is on track for a $2 trillion deficit this year, contributing to a total debt exceeding $34.6 trillion.

So, if you’re surprised that Costco offers gold, rest assured that they do, and you can potentially find it at a favorable price, such as the mentioned $1949, which is a competitive offer, with only a slight premium of around $25 over the spot price. Don’t overlook the additional 2% cashback that comes with using the Citi Costco card, making it a total of 4% back and potentially bringing the cost below the spot price. Additionally, if you own a Freedom card, you can potentially receive $75 back, thanks to their 5% cashback offer on certain categories during the quarter. Happy treasure hunting.

COSTCO gold bar item numbers

When logged into your account, these prices will briefly appear on the browser before displaying as “item not found.”

The item numbers remain consistent and the current prices:

COSTCO CANADA

1 oz Gold Coin Limited Edition 2023 Canadian Maple Leaf
1 oz 2023 Royal Canadian Mint Gold Bar (New In Assay)
10 g Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay)
1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay)

COSTCO USA

100 Gram Gold Bar PAMP Rosa (New in Assay) 100 gram Lady Fortuna: $6,349.99
50 Gram Gold Bar PAMP Suisse Lady Fortuna (New In Assay) 50 gram Lady Fortuna: $3,199.99
1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay) 1 oz PAMP Lady Fortuna: $1,989.99
1 oz Gold Bar PAMP Lunar Legends Azure Dragon (New in Assay)
1 oz Gold Bar Rand Refinery (New in Assay)

Uncertain if the “Out of Stock” status will transition to “Add to Cart.” If you can spare the time to patiently refresh the page, historically, similar listings eventually displayed the price and the “Add to Cart” button. However, even with the item in your cart, additional refreshes may be necessary before you can complete the purchase. This is because if the same item is also in John Doe’s cart and he proceeds to pay first, the inventory may return to “Out of Stock.” Good luck!

his reward can be even more valuable, depending on your utilization of UR points, especially if you have a CSR card. Please keep in mind that these golden opportunities at Costco tend to appear only when the product is in stock, which happens a few times each month.

You have the freedom to access any Costco location globally, whether it’s a regular store or a business center, regardless of your type of Costco membership. There are no geographical limitations. The exclusive Costco branches situated east of the Mississippi River are located in Chicago, Atlanta, New Jersey, and Florida.
If you were charged sales tax during your purchase and believe it was incorrect, you can request a refund by reaching out to taxrequest@costco.com. In the email subject line, kindly include “Tax Inquiry for Order #xxxxxxxxx.” Costco will review your request and refund the sales tax if it was indeed incorrectly charged.
Don’t overlook the benefits of using your Discover card, if you possess one. Currently, Discover offers a 5% cashback in their wholesale category, which includes purchases made at Costco. Additionally, if you are an Executive member, you can enjoy an extra 2% cashback on your Costco purchases.

Shop gold bars behind the counter.

When There Are No Costco Business Center Locations Nearby

It’s important to note that as of this writing, the United States only has 25 Costco Business Center locations in the following 13 states:

Phoenix, Arizona
Commerce, California
Hawthorne, California
Hayward, California
North Hollywood, California
Ontario, California
Sacramento, California
San Diego, California
San Jose, California
San Marcos, California
South San Francisco, California
Westminster, California
Denver, Colorado
Orlando, Florida
Morrow, Georgia
Honolulu, Hawaii
Chicago, Illinois
Minneapolis, Minnesota
Hackensack, New Jersey
Las Vegas, Nevada
Dallas, Texas
Stafford, Texas
Salt Lake City, Utah
Fife, Washington
Lynnwood, Washington

If not, available, you have to purchase it on line. Typically, the first two reference numbers become available once or twice a month, with their release often scheduled for Thursday or Friday mornings around 9-10 am. With a Costco membership, you can enjoy a 2% cashback, effectively lowering the price to the current market value or below. To stay ahead of the game, consider setting up an alert on slickdeals.com for “gold Costco” to be notified when they have gold in stock.

Which credit cards offer cashback rewards for buying gold on costco?

The following credit cards offer cashback rewards for buying at Costco:

Costco Anywhere Visa® Card by Citi: This card offers 2% cash back on all eligible purchases from Costco and Costco.com, and 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year (then 1%).
Chase Freedom Unlimited®: This card offers 3% cash back on restaurants and eligible travel purchases, and 1.5% cash back on all other purchases.
Wells Fargo Active Cash® Card: This card offers unlimited 2% cash rewards on purchases.
PenFed Power Cash Rewards Visa Signature® Card: This card offers 2% cash back on all purchases.

It’s important to review the specific terms and conditions of each card to ensure it aligns with your spending habits and financial goals. Additionally, it’s worth noting that only Visa credit cards are accepted at Costco warehouses and gas stations, while online shoppers can also use Mastercard and Discover cards

4% in total, specifically applicable to purchases made at Costco.

This benefit is divided into two separate checks:

The Executive check provides a 2% cashback on all purchases at Costco, excluding tobacco and gas. Notably, alcohol purchases are included in this cashback offer. This check will be sent by mail along with your renewal notice, arriving approximately two months before your specific renewal date. The issue date may vary from person to person based on their sign-up date.

The Citi Visa rewards certificates offer the following cashback benefits:

4% back on eligible gas and electric vehicle (EV) charging, up to $7,000, and 1% thereafter.
3% back on eligible restaurant and travel expenses.
2% back on Costco purchases, combining with the Executive benefit for a total of 4% cashback in-warehouse.
1% on all other purchases not falling into the higher cashback categories.

Additionally, this credit card provides several other benefits, including 120 days of accidental damage and theft protection for all purchases, both at Costco and elsewhere. There is no annual fee, and foreign transaction fees are not applicable.

Citi Visa rewards certificates are issued every February and can be redeemed in-warehouse or used for purchases anytime between the issue date and their expiration in December. If the cashback amount exceeds $300, it can also be directly deposited into your bank account. Even if not used before expiration, Costco honors these certificates afterward, but they must be applied towards purchases, involving some additional steps with a supervisor or manager. It is advisable to utilize them before expiration for a simpler process.

As mentioned by an employee, who previously worked at the Visa tables, these details provide a comprehensive overview of the cashback benefits and additional perks associated with the Citi Visa rewards program at Costco.

Walmart is a highly underrated gold bullion dealer . Costco Vs Walmart

When it comes to purchasing precious metals, I’ve been a regular at both Walmart and Costco. However, lately, my preference has tilted significantly towards Walmart, especially when comparing it to Costco. Let me break it down.

Firstly, let’s talk about the deals. Costco, with its Executive Membership and credit card perks, seems enticing at first glance. But when you crunch the numbers, Walmart’s offerings, particularly with their 5% cashback using the Walmart credit card, shine brighter. Take, for instance, the recent price of an American Gold Eagle on Walmart.com – $2,291. With a 5% cashback, you’re effectively looking at $2,176, nearly hitting the spot price. Costco’s pricing, even with a 4% back, consistently falls short of this mark, at least from what I’ve observed.

However, there’s a glaring issue with Walmart – their credit card’s abysmally low credit limits. It’s infuriating, especially for someone with a solid credit score like mine. I mean, how can they justify a mere $2,000 limit when other cards grant me at least $10,000? Nevertheless, I’ve managed to work around this limitation by splitting my purchases and resorting to other cards for larger transactions.

Now, onto the Costco hype. Frankly, I fail to grasp it entirely. Sure, they offer discounts and cashback, but there are several flaws in their system. Firstly, their pricing seems stagnant, unlike other dealers who adjust according to market fluctuations. Then there’s the waiting game for cashback, which, in my opinion, is just inconvenient. And let’s not forget the perennial issue of items being out of stock.

Contrast this with Walmart, where I’ve found not only competitive prices but also seamless transactions. Many major bullion dealers operate through Walmart.com, offering a diverse range of products. With the 5% cashback from the Walmart credit card, coupled with immediate points application, the savings are substantial. Take the same Gold Maple leaf example – with the Walmart credit card, I’d be paying $2,137.35 today, potentially even less than yesterday’s price due to market fluctuations.

So, why the hype around

When it comes to purchasing precious metals, I’ve been a regular at both Walmart and Costco. However, lately, my preference has tilted significantly towards Walmart, especially when comparing it to Costco. Let me break it down.

Firstly, let’s talk about the deals. Costco, with its Executive Membership and credit card perks, seems enticing at first glance. But when you crunch the numbers, Walmart’s offerings, particularly with their 5% cashback using the Walmart credit card, shine brighter. Take, for instance, the recent price of an American Gold Eagle on Walmart.com – $2,291. With a 5% cashback, you’re effectively looking at $2,176, nearly hitting the spot price. Costco’s pricing, even with a 4% back, consistently falls short of this mark, at least from what I’ve observed.

However, there’s a glaring issue with Walmart – their credit card’s abysmally low credit limits. It’s infuriating, especially for someone with a solid credit score like mine. I mean, how can they justify a mere $2,000 limit when other cards grant me at least $10,000? Nevertheless, I’ve managed to work around this limitation by splitting my purchases and resorting to other cards for larger transactions.

Now, onto the Costco hype.

Frankly, I fail to grasp it entirely. Sure, they offer discounts and cashback, but there are several flaws in their system. Firstly, their pricing seems stagnant, unlike other dealers who adjust according to market fluctuations. Then there’s the waiting game for cashback, which, in my opinion, is just inconvenient. And let’s not forget the perennial issue of items being out of stock.

Contrast this with Walmart, where I’ve found not only competitive prices but also seamless transactions. Many major bullion dealers operate through Walmart.com, offering a diverse range of products. With the 5% cashback from the Walmart credit card, coupled with immediate points application, the savings are substantial. Take the same Gold Maple leaf example – with the Walmart credit card, I’d be paying $2,137.35 today, potentially even less than yesterday’s price due to market fluctuations.

So, why the hype around Costco? Is it simply because it’s Costco? I can’t help but wonder. Personally, I’m sticking with Walmart, patiently awaiting an increase in credit limit to streamline my purchases further. With cards like the Altitude Reserve offering superior rewards without the hassle of low credit limits, the choice becomes even clearer.

Is it simply because it’s Costco? I can’t help but wonder. Personally, I’m sticking with Walmart, patiently awaiting an increase in credit limit to streamline my purchases further. With cards like the Altitude Reserve offering superior rewards without the hassle of low credit limits, the choice becomes even clearer.

Costco: $100m in gold bars sold in last quarter 2023.

Costco, the retail giant, has struck a surprising gold mine among its online customer base. In its fiscal first quarter, ending on Nov. 26, the company revealed a staggering sale of over $100 million in gold. Richard Galanti, Costco’s Chief Financial Officer, shared this revelation during the recent earnings call with analysts.

Gold Rush at Costco: The retail giant sold over $100 million in one-ounce gold bars, a hot commodity that vanishes from their website within hours of release.
Investor Interest: Amidst a 12% spike in spot gold prices, Costco’s sales reflect growing consumer interest in gold as a hedge against economic uncertainty and inflation.
Financial Impact: The surge in gold sales significantly boosted Costco’s earnings, marking a 17% increase in profits from the previous year.
Market Trends: Costco’s success aligns with market shifts, such as a weaker U.S. dollar and lower Treasury yields, further driving up the appeal of gold.
Exclusive Offerings: With limited availability and a maximum purchase limit of two bars per membership, Costco’s gold bars from renowned suppliers like Rand Refinery and PAMP Suisse attract both collectors and investors alike.

Summary: Costco’s venture into selling one-ounce gold bars has become a massive hit, with sales surpassing $100 million in a quarter. This surge aligns with a 12% rise in gold prices, reflecting growing consumer interest amid economic uncertainty and inflation concerns. The company’s robust earnings, up 17% from the previous year, underscore the significant financial impact of this unexpected gold rush. Limited availability, rapid sellouts, and exclusive offerings from renowned suppliers contribute to the allure of Costco’s gold bars, creating a buzz among both collectors and investors.

These gold bars, typically 1-ounce in size, swiftly vanish from Costco’s website mere hours after they’re made available, as Galanti mentioned back in September. Despite their price tag of $2,069.99 per ounce (higher than the latest spot price of $2,020.58), they remain in high demand. However, due to membership limitations, customers can only purchase a maximum of two bars, making it challenging to amass a significant holding of this precious metal.

While the overall satisfaction among buyers seems high, evident from the impressive 4.9-star rating and nearly 800 reviews on Costco’s website, some customers voiced grievances regarding steep state sales taxes.

The spike in spot gold prices, up approximately 12% this year, has caught the attention of financial institutions like JPMorgan, foreseeing a potential surge in 2024 to $2,300 per ounce. Yet, they also anticipate a temporary retreat to $1,900 before this upward trend, creating an opportunity for strategic investment positioning.

Recent shifts in the market, with the weakening of the U.S. dollar and Treasury yields, have boosted gold’s appeal, leading to a weekly gain. Costco’s consistent success with gold sales aligns with this trend, as they reported a massive $100 million in one-ounce gold bar sales, signaling a strong consumer interest amid ongoing inflation concerns.

Interestingly, the current unavailability of these bars contrasts with their fall pricing, which ranged between $1,950 and $1,980. The soaring spot price, crossing $2,000 per ounce, highlights the attractiveness of gold during uncertain economic periods, often seen as a hedge against inflation. This sentiment was further accentuated when spot gold prices hit a record high of over $2,100 an ounce amid looming recession fears.

The substantial gains from gold sales significantly contributed to Costco’s robust earnings last quarter, with profits reaching $1.59, marking a notable 17% increase from the same period the previous year, as indicated in the financial statements. Investor response was positive, driving Costco’s stock up by 3% to $653 on Friday following the earnings call. Galanti humorously noted the prevailing consumer trend during this holiday season: “They’re buying gold.”

Costco’s website displays one-ounce bars from South Africa’s Rand Refinery and Swiss supplier PAMP Suisse, limited to two per membership from each refiner. With 72 million paid memberships by the quarter’s end, these exclusivities add to the allure of the limited gold inventory.

Is Investing in Costco’s Gold Bars a Wise Choice for Seniors?

A notable trend has emerged, involving the allocation of resources into precious metals, particularly gold and silver. Numerous top-tier gold investment companies are available to assist individuals in embarking on this financial journey, and even retail giant Costco recently entered the fray. Costco made headlines by offering 1-ounce gold bars, which promptly sold out online due to overwhelming demand.

However, the question arises: should seniors consider purchasing Costco’s gold bars? And what alternatives are available to them if they cannot acquire these bars from the retailer? Fortunately, there exists a multitude of valuable alternatives for seniors to explore. Begin by a deeper understanding of these options.

Should Seniors Invest in Costco’s Gold Bars?

Costco’s current offering includes Pamp gold bars, . Whether seniors are seeking these bars in-person or through an online gold company, there are compelling reasons to consider acquiring this precious metal. Here are three key motivations:

Portfolio Diversification: Gold serves as an effective tool for diversifying investment portfolios, offering a protective buffer during periods of underperformance in other asset classes. While gold doesn’t generate income in the same way as other investments, its role is primarily defensive, preserving existing wealth. The proportion of gold in one’s portfolio should be tailored to individual circumstances, with many experts recommending a cap of 10% or less, depending on an individual’s risk tolerance and investment profile.
Hedge Against Inflation: Gold possesses a well-established reputation for safeguarding investments against inflation. Throughout history, gold has often retained its value and even exhibited price increases during periods of inflationary pressure in the broader economy. This quality is particularly advantageous in the current landscape, where stock market performance can be inconsistent, and retirement savings may be at risk. Nevertheless, it’s crucial to strike the right balance when investing in gold, as an excessive or insufficient allocation could potentially negate any gains.
Tangible Security: Unlike stocks and bonds, which are subject to rapid fluctuations and liquidity challenges, physical gold bars, whether acquired from Costco, Goldco, or another reputable gold company, offer tangible security benefits. These assets can be seen, touched, and easily sold if the need arises. This physicality provides investors with a level of reassurance that other investments may lack.

Costco’s entry into the gold bar market underscores what many astute investors have recognized in the current economic climate: gold represents a sound strategy for preserving wealth. Its ability to hedge against inflation, enhance portfolio diversification, and offer tangible security benefits makes it a compelling choice for seniors, as well as investors across various age groups. To embark on your gold investment journey, explore your options today. When considering where to purchase gold, it’s advisable to avoid pawn shops or coin dealers unless you have a trustworthy history with them. There are more cost-effective options available, such as starting your search exploring our guide where tu buy gold In USA, where you can find reputable vendors and utilize middlemen services for secure transactions. Additionally, you can gain insights and ask questions in communities like r/Gold. Remember, the adage holds true: if you can’t physically hold it, you don’t truly own it.