Costco Platinum Bars: How $1,089 Price Tag Compares To Gold
Written by
J. Arky
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Amen Oyiboke
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You can find a lot of great deals at Costco on everyday items, including bars of platinum. That’s right, along with getting your groceries, picking up some new items for your wardrobe, and getting a $5 rotisserie chicken, add precious metals to your Costco shopping list.
In 2023, the retail juggernaut debuted gold bars that sold out almost instantly, leading Costco to introduce 1-ounce platinum bars for a price of $1,089 made of 999.5 pure platinum. These bars are imported from Switzerland, receiving the Good Delivery accreditation from the London Bullion Market Association (LBMA), an international trade association for the precious metals industry.
Will this affect the price of gold and should you head to Costco for your next investment in their platinum bars? GOBankingRates puts this question to some experts.
“Costco selling platinum does not impact gold as an investment,” said Jose Gomez, a partner at the national e-commerce business Summit Metals. “Gold buyers typically do not purchase platinum, however, silver buyers buy platinum.”
Brandon Thor, CEO of Thor Metals Group, viewed Costco’s platinum roll out as a sign of growing mainstream interest in diversifying investment portfolios with precious metals beyond just gold, particularly during economic uncertainties.
“Costco’s decision to sell platinum bars is a fascinating signal of the growing mainstream interest in precious metals as tangible investments,” Thor explained. “While gold has long been the go-to for investors seeking a haven, the availability of platinum in a retail setting like Costco suggests diversification is gaining traction, even among everyday consumers. This move highlights the growing awareness of alternative metals and their potential value, especially as economic uncertainties persist.”
“Costco’s foray into platinum isn’t a direct threat to gold — it’s a complementary trend,” continued Thor. “Gold continues to be a cornerstone of investment portfolios due to its historical stability, liquidity, and global demand. Heightened interest in metals like platinum often underscores the broader appeal of precious metals during times of inflation or economic uncertainty. It reinforces the narrative that tangible assets are a valuable hedge against volatility.”
Gold will likely remain a critical investment, particularly as central banks adjust monetary policies, according to Thor. “For investors, Costco’s platinum bars may spark curiosity about expanding their portfolios, but gold’s unique role as a financial anchor ensures its enduring relevance. This trend is less about competition and more about the growing appeal of precious metals.”
“Based on our customers who tend to be gold buyers, they buy gold as a storage of wealth, not a form of money speculation, whereas platinum fluctuates too much to be considered a storage of wealth,” said Gomez, adding that for this reason, it is more akin to silver price rise speculation.
So if you are a Costco member and looking to get a solid investment made of precious metals, you might want to pick up some platinum bars on your next shopping trip. Just make sure you buy with the awareness that you won’t be striking gold.
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