They’re available for the bargain price of … well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold most recently was going for $1,876.56 an ounce as of Wednesday afternoon.
One of Costco’s newest merchandise items has been selling out within a matter of hours, CFO Richard Galanti said on an earnings call Tuesday. “I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars,” Galanti told investors during the retailer’s fourth-quarter earnings call. “Yes, but when we load them on the site, they’re typically gone within a few hours and we limit two per member.”
The items are, as Galanti noted, limited to two per customer, and it's easy to see why given the fervent search for them online. In one dedicated Reddit threat, frustrated gold seekers shared their dismay at how quickly the gold bars are being snatched up. 'Saw it for the first-time last night while in bed and missed it by the time I woke up in the morning,' one person said. By the sounds of it, they missed out by quite a bit.