You may have read about Costco’s very successful gold bar sales. The company also sells silver coins. And now, Costco has decided to sell platinum bars as well. Right now, they’re selling for about $1,089.99. Carsen Holaday reports in The U.S. Sun, writing:
DOOMSDAY preppers can expect to rush to Costco as the store has revealed a new product joining the chain’s lineup of precious metals.
The wholesale retailer is now selling bars of platinum after their 1-ounce gold bars sold out in a few hours when they first went on sale last year.
Following the success of the gold bars and silver coins, 1-ounce platinum bars are now available on Costco’s online website.
Described as 999.5 platinum, the bars cost a whopping $1,089.99 each.
So far, the bar is only sold online. Delivery is currently unavailable in multiple US locations including Louisiana and Nevada.
The roll-out of the precious metals has been a hit with Costco shoppers since the store first had trouble keeping the beloved gold bars on the shelves.
The retailer started selling silver coins after gold bar sales topped a $100 million profit in the first fiscal quarter.
Wells Fargo estimated in April that Costco sold up to $200 million per month in precious metals.
Precious metals might be extra popular as doomsday preppers are stocking up on the assets, according to CNBC.
The goods are thought to be valuable as they could be used for bartering in a post-apocalyptic world.
Action Line: Do you own gold, silver, or platinum? Having some at home may not be a bad idea. It can diversify your investment portfolio, too. When you want to talk about precious metals in your portfolio, email me at ejsmith@yoursurvivalguy.com. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.
P.S. Remember, not all precious metals are created equally. Their performance can vary. Take a look at the two charts below that compare the prices of silver and platinum to gold. When the values are rising, gold is doing better, and when the values are falling, silver or platinum are doing better.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- Investment Surprise #1: This One Is Free for You - November 8, 2024
- Are You Getting the Financial Advice You Deserve? - November 8, 2024
- Not All of America Will See Equal Opportunities - November 8, 2024
- Emptying the Post Election Trash: Winners and Losers - November 7, 2024
- Thanks for the Memories President Biden - November 7, 2024