ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Costco quickly selling out of gold bars listed on wholesaler's website: 'Impeccable quality'

Costco members take to social media and costco.com to review the 24-karat, one-ounce, sold-out bars of gold. The bars come in two varieties with varying prices.

Costco is reportedly selling out of a shiny item each time the item is listed for purchase online.

The wholesaler offers gold bars on its website, from which members of Costco can purchase the investment.

"I've gotten a couple of calls that people have seen online that we've been selling one-ounce gold bars," Richard Galanti, chief financial officer of Costco, shared with investors during the retailer's fourth-quarter earnings call.

COSTCO FANS LOVE THIS 'HIDEOUS' CLOTHING ITEM THAT'S SELLING OUT QUICKLY: 'I NEED THIS IN MY LIFE'

Galanti said the bars are "typically gone within a few hours" and the purchase limit is "two per member."

FOX Business reached out to Costco for comment.

Members have two options to choose from when making their purchase: South African-made Rand Refinery and the Swiss-made PAMP Suisse Lady Fortuna Veriscan, according to Yahoo! Finance.

When in stock, the 24-karat bar of gold from Rand Refinery is available for purchase for $1,949.99, while the Swiss supplier, PAMP Suisse, costs $1,979.99.

COSTCO SOFA GOES VIRAL, CAUSING DEBATE ON TIKTOK: 'WAY TOO EXPENSIVE'

Both gold bars have received positive reviews from Costco members; both bars have averaged 4.9 stars, according to Costco.com.

"Purchased a gold bar recently and couldn't be happier with my investment. The bar arrived promptly with impressively quick shipping. Upon inspection, it was immediately evident that the bar was in impeccable condition," one reviewer of PAMP Suisse wrote.

"Additionally, I truly appreciated that it came securely packaged in a sealed container, ensuring its purity and safety," the reviewer went on. 

"All in all, a fantastic purchase and I'd highly recommend it to others seeking quality gold bars."

Reviewers have noted the intricate design on the small bar and praised it for its quality.

COSTCO NOW SELLING VIRAL BLACKSTONE GRIDDLE, SHOPPERS WEIGH IN: 'NOT WORTH THE HASSLE'

"Let me start by saying, this is an outstanding deal and the product itself is of impeccable quality," another reviewer wrote.

"What sets this product apart is the Veriscan technology … The ability to scan and verify the product's legitimacy is a feature I greatly appreciate, considering the prevalence of counterfeit items in the market," the same person wrote.

The cost of a one-ounce bar of gold on the open market is worth $1,825, according to Markets Insider.

"Each bar is individually controlled, registered and secured within protective CertiPAMP™ packaging with an official Assay Certificate and a digital certificate accessed with a QR Code. Each assay card is covered with a thin removable protective film," Costco noted online.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Costco's non-refundable item has created some buzz online from users on TikTok. 

Multiple Reddit threads have also been created, with wholesale members sharing thoughts about the bars.

The hot-ticket item is currently out of stock on Costco.com. 

Other online retailers appear to sell gold bars in various sizes and at different price points.

For more Lifestyle articles, visit www.foxbusiness.com/lifestyle.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.