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Costco Is Adding Swiss-Made Platinum Bars to Its Lineup

October 4, 2024

Costco is expanding its precious metals offerings. Building on last year’s rollout of gold bars, which often sold out within hours, the retailer is now adding 1-ounce platinum bars to its lineup.

So, for that hard-to-buy-for person or as an investment, the big-box store is allowing member-only customers to purchase up to five 1-ounce bars, which will set them back $1,089.99 each. According to Costco’s website, these are the details of the precious metal investment:

999.5 pure platinum
Item is non-refundable
Limit of one transaction per membership, with a maximum of five bars
Item is not eligible for price adjustments

How Do Customers Purchase Platinum Bars?

Costco is now selling 1-ounce platinum bars. https://t.co/1RwlNv4OMO
— CBS News (@CBSNews) October 4, 2024

The platinum bars can only be purchased online. They arrive approximately three to five business days from the time the order is initially placed. Details of the purchase also reveal that standard shipping via UPS insured is included in the quoted price. A signature is required for delivery.

The Costco website says delivery is unavailable in Nevada, Louisiana, and Puerto Rico. It is also currently unavailable for delivery in several other locations throughout the U.S., including New York and Utah, as reported by CBS News.

In April 2024, ABC News reported that Costco was selling upwards of $200 million per month via the sale of its previous precious metal offering, 1-ounce bars of 24-karat gold from Rand Refinery, as well as 1-ounce 24-karat gold PAMP Suisse Lady Fortuna Veriscan bars.

“This is a currency that has been around for thousands of years. It is one thing that holds its value and increases its value over a duration of time,” Hitha Herzog, retail analyst and chief research officer at H Squared Research, told ABC News at the time.

The Costco fee to join the big-box store for non-executive memberships in the U.S. and Canada will be $65 from this point forward, up from $60. Executive membership fees are now $130, up from $120.