Costco now selling platinum bars and coins on website

Following the smash success of adding gold and silver bars and coins to its list of products, Costco has added a new precious metal to its stores: platinum.

The wholesale retailer is selling a 1-ounce platinum bar, as well as a 1-ounce Canada Maple Leaf platinum coin on its website, both listed at $1,089.99. The products carry a markup of about $94, according to Yahoo Finance.

The bars are Swiss-made and made up of 999.5 pure platinum, Costco said.

Like the gold bars that proved to be a huge commodity for Costco, selling over $100 million worth in one quarter alone, the platinum products are available exclusively online to members only, cannot be returned or refunded, and are likely to sell out extremely fast.

On Wednesday, the listing for the platinum bar returned a “product not available” message.

People on Reddit have created their own online community to track the availability of precious metals at Costco in hopes of getting the drop on other collectors when the retailer restocks.

The current price of platinum is about $1,024.30 per ounce on APMEX.

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