Charles Esther
As global uncertainty pushes gold prices higher, retail giant Costco has unexpectedly emerged as a go-to source for precious metal investors.
With prices briefly topping $3,500 per ounce on Tuesday, demand for gold bars and coins sold at Costco is rising fast — and it’s reshaping how average Americans enter the world of gold investing.
Gold Prices Hit Record Highs
The price of gold recently surged past $3,500 per ounce, fueled by economic instability and concerns over the US dollar’s depreciation.
Historically, gold serves as a “safe haven” asset in times of political or financial uncertainty — and 2025 appears to be no exception.
With inflation fears, rising global tensions, and market volatility, many investors are flocking to gold for stability.
Costco: The Unexpected Gold Dealer
Costco is well-known for bulk groceries and warehouse deals — not precious metals.
Yet, the retailer has quietly become a powerhouse in the gold-buying market, selling millions of dollars’ worth of bars and coins both online and in select warehouses.
Thanks to low markups and competitive pricing, Costco has made gold more accessible than ever.
One collector who spent over $30,000 on gold through Costco this year told Business Insider that it was “the gateway drug” into the world of gold investing.
He had never owned gold before, but the convenience and pricing of Costco’s offering made it hard to resist.
Low Markups and Cashback Rewards Drive Sales
Costco’s appeal lies not only in its pricing but also in its rewards structure.
On Tuesday, a 100-gram and a 1-ounce gold bar were listed so close to the spot market price that Executive Members using a Costco Citi credit card could earn 1%–2% in cashback — essentially making money on the conversion.
While executive rewards are capped at $1,250 per year, the card’s cashback has no such limit.
This financial incentive, combined with low markups, has led some buyers to spend tens of thousands on gold — even flipping it for profit.
One gold flipper claimed to have purchased over $100,000 worth of gold through Costco.
The Risks and Realities of Gold Flipping
However, flipping gold isn’t always easy.
Costco doesn’t accept returns or offer price adjustments on gold purchases.
Plus, buyers often face challenges reselling bars quickly or at a profit.
Most seasoned collectors advise establishing a relationship with a local gold dealer for potential liquidity needs.
For most Costco gold buyers, though, the goal isn’t quick cash — it’s long-term security.
High Demand Despite Price Fluctuations
Despite the price volatility, Costco gold continues to fly off shelves.
A warehouse manager told Business Insider that their store receives around 10 to 20 gold bars per shipment, usually selling out in just a few days.
Online orders move even faster, sometimes clearing inventory in just hours.
The demand has remained steady, regardless of price swings.
As one manager put it, “The people who want it, buy it.”
Reddit Communities Track Pricing Trends
Costco’s lack of real-time price updates compared to traditional bullion brokers has sparked active discussions in Reddit’s Costco gold community.
Users track pricing lags and share tips on when to buy.
“When gold spikes, Costco’s lag can mean getting bars below spot price — especially with cashback,” one user noted.
But when prices fall, that same lag can make purchases temporarily less attractive.
Conclusion
Costco’s gold program is more than just a trend — it’s a sign that traditional investing is evolving.
With economic uncertainty fueling a rush into precious metals, retailers like Costco are bridging the gap between everyday consumers and financial assets once reserved for serious investors.
Whether it’s for security, speculation, or simply curiosity, gold has never been more accessible — and Costco is right at the center of it.
