Costco Reportedly Sells $200 Million in Gold Bars Monthly

Costco sells all kinds of things. Along with massive packs of toilet paper and chicken cutlets, you can also buy gold bars. As Lester reports, that’s led to a modern day gold rush. There’s a gold rush at Costco, along with jumbo packs of paper towels and giant piles of pants. The superstore actually sells one ounce gold ingots like this one. Now Wells Fargo is reporting that Costco is selling as much as $200 million worth of gold bars every month. Selling the gold bars last August. Right now this store in New Jersey is completely sold out, but if you can get your hands on one, they go for about $2300 A bar. Demand is so high, there’s actually a limit of five per customer. I got this one ounce gold bar from Costco. Yes, that’s right, Costco even sells gold bars. Personal finance advisor Humphrey Yang went to Costco thinking he would only buy a $2.00 snack. I ended up buying a gold bar for 2359. So. Kind of funny, but is gold a good investment? Gold is historically a hedge against inflation. Americans are very worried at home, which is probably one of the reasons they’re at Costco to begin with.