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Costco customers scrambling to buy $1,949 gold bars as store confirms they’re real

Home> News> US News

Published 08:34 28 Sep 2023 GMT+1

Costco customers scrambling to buy $1,949 gold bars as store confirms they’re real

The gold bars have been flying off the shelves, but customers are limited to how many they can buy

Emily Brown

Emily Brown

Costco customers have been left fighting to get their hands on gold bars being sold by the company after shoppers spotted the deal online.

If you think of Costco, you probably think of free samples, clubcards and massive portions. Now, however, the wholesaler is throwing something a bit more extravagant into the mix.

The store has started selling two different kinds of 24-karat gold bars, both weighing 1 ounce and available at just short of $2,000.

It seems like quite a random thing to stock at a store usually thought of for its toilet paper deals and huge pizzas, but after receiving some questions about the item, CFO Richard Galanti confirmed they're the real deal.

Speaking to investors at the company's fourth-quarter earnings call on Tuesday (26 September), the Insider reports he said: "I've gotten a couple of calls that people have seen online that we've been selling one-ounce gold bars.

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"Yes, but when we load them on the site, they're typically gone within a few hours."

Customers are limited to buying just two of the bars to give everyone a fair shot, but that hasn't stopped the bars from flying off the shelves.

Some of those who have been lucky enough to get their hands on the shiny objects have taken to social media to share their thoughts, with TikToker @midlifecrisisgirl admitting the bars are 'heavier than [she] thought'.

Two types of gold bars are available from Costco.
Costco

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The cheaper of the two bars comes from South Africa's Rand Refinery and is available for $1,949.99. The second comes from Swiss supplier PAMP Suisse, and sets customers back $1,979.99.

Purchase of the bars includes shipping via UPS which is insured and signed-for, though customers have to hope they'll be happy with the products because they can't be returned or refunded.

Luckily they seem to be going down well with buyers, with both products receiving an average 4.9 star rating.

"Happy with my purchase. I would have purchased a couple more, if Costco permitted," one customer wrote on the site, while another added: "Beautiful Piece of Gold. Brand New! Got What Expected."

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Other Costco fans are still trying to get their hands on the gold, with many turning to the internet for advice on the best ways to find and buy them.

"Saw it for the first-time last night while in bed and missed it by the time I woke up in the morning," one frustrated customer wrote.

According to Gold.co.uk, the bars are up for sale at slightly higher than the current market price for the precious metal, which sits at $1,876.12 per ounce at the time of writing (28 September).

Featured Image Credit: TikTok / @midlifecrisisgirl / MANDEL NGAN/AFP via Getty Images

Topics: US News, Shopping, Money, TikTok

Emily Brown
Emily Brown

Emily Brown is UNILAD Editorial Lead at LADbible Group. She first began delivering news when she was just 11 years old - with a paper route - before graduating with a BA Hons in English Language in the Media from Lancaster University. Emily joined UNILAD in 2018 to cover breaking news, trending stories and longer form features. She went on to become Community Desk Lead, commissioning and writing human interest stories from across the globe, before moving to the role of Editorial Lead. Emily now works alongside the UNILAD Editor to ensure the page delivers accurate, interesting and high quality content.

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