In between pallets of toilet paper and mega-packs of frozen lasagna, Costco has quietly become one of North America’s hottest gold dealers.
In a world where you can buy five gallons of ketchup, a year’s supply of toothpaste, and a kayak next to your rotisserie chicken, it was only a matter of time before the erstwhile retailer started selling gold bars.
Buy in bulk, save a buck and maybe hedge against economic collapse while you’re at it.
Now, it seems, they’ve become too popular for their own good.
That’s because the big-box retailer — beloved by doomsday preppers and value-obsessed suburbanites alike — is tightening the reins on its gilded goods.
What began as a low-key launch in 2023 has turned into a full-blown gold rush, with shoppers snapping up bullion faster than you can say “free sample.”
Originally, Costco’s website allowed customers to purchase two one-ounce bars per transaction.
Now? Just one lonely bar per click.
And jumbo 100-gram bars — once available in fives — are also capped at one. The site now clarifies that “per day” means exactly 24 hours, likely in response to crafty shoppers trying to skirt the rules (and complaining on Reddit when their orders were cancelled).
In Canada, the site allows buyers to purchase two bars, but only one transaction per week, defined as 168 hours.
Despite the restrictions, the gold bars, from respected mints like PAMP Suisse and South Africa’s Rand Refinery — even the Royal Canadian Mint — continue to vanish within hours of restocking.
Last year, Costco became one of the first private retailers to sell the first official gold coin with emblazoned with an effigy of King Charles III.
It’s not hard to see why Costco is proving so popular, even among respected financial houses and legitimate dealers. That’s because it sells its gold with a razor-thin markup of 0.8% to 2.4% over spot price — practically wholesale.
As of this week, one-ounce bars are listed online at $4,579.99 up from $3,500 just last year. Shoppers who bought in early could now be sitting on a solid $1,000 per bar in profits — assuming they didn’t bury them in a backyard bunker.
Entire websites are springing up dedicated to playing the Costco gold ‘arbitrage’. Here’s how it works:
Costco sells gold bars at a static daily price, which does not change throughout the day. In contrast, the spot price of gold fluctuates throughout the trading day, sometimes rising or falling by as much as 5% or more in a matter of hours.
When the spot gold price rises after Costco sets its price for the day, buyers can secure gold at Costco for a lower price and flip it the same day for a higher market rate at local gold shops or online marketplaces.
Thus far in 2025, gold prices are up about $600 per ounce, and was trading a $4,501.45 in New York on Thursday, up about $63.
But don’t feel bad for Costco. Wells Fargo estimates that Costco has been hauling in up to USD$200 million a month in gold revenue.
Some online influencers are also fanning the flames. TikTok and YouTube are full of videos of Costco gold unboxings, profit breakdowns, and even hacks for spotting restocks.
So, is this the new frontier of modern retail — pairing frozen shrimp with financial hedges?
At Costco, where your shopping cart can include a flat-screen TV, a coffin, and a literal bar of gold, the answer seems to be: Absolutely. Yes.