Costco is reportedly selling out of a shiny item each time the item is listed for purchase online.
The wholesaler offers gold bars on its website, from which members of Costco can purchase the investment.
“I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars,” Richard Galanti, chief financial officer of Costco, shared with investors during the retailer’s fourth-quarter earnings call.
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Galanti said the bars are “typically gone within a few hours” and the purchase limit is “two per member.”
FOX Business reached out to Costco for comment.
Members have two options to choose from when making their purchase: South African-made Rand Refinery and the Swiss-made PAMP Suisse Lady Fortuna Veriscan, according to Yahoo! Finance.
When in stock, the 24-karat bar of gold from Rand Refinery is available for purchase for $1,949.99, while the Swiss supplier, PAMP Suisse, costs $1,979.99.
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Both gold bars have received positive reviews from Costco members; both bars have averaged 4.9 stars, according to Costco.com.
“Purchased a gold bar recently and couldn’t be happier with my investment. The bar arrived promptly with impressively quick shipping. Upon inspection, it was immediately evident that the bar was in impeccable condition,” one reviewer of PAMP Suisse wrote.
“Additionally, I truly appreciated that it came securely packaged in a sealed container, ensuring its purity and safety,” the reviewer went on.
“All in all, a fantastic purchase and I’d highly recommend it to others seeking quality gold bars.”
Reviewers have noted the intricate design on the small bar and praised it for its quality.
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“Let me start by saying, this is an outstanding deal and the product itself is of impeccable quality,” another reviewer wrote.
“What sets this product apart is the Veriscan technology … The ability to scan and verify the product’s legitimacy is a feature I greatly appreciate, considering the prevalence of counterfeit items in the market,” the same person wrote.
The cost of a one-ounce bar of gold on the open market is worth $1,825, according to Markets Insider.
“Each bar is individually controlled, registered and secured within protective CertiPAMP™ packaging with an official Assay Certificate and a digital certificate accessed with a QR Code. Each assay card is covered with a thin removable protective film,” Costco noted online.
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Costco’s non-refundable item has created some buzz online from users on TikTok.
Multiple Reddit threads have also been created, with wholesale members sharing thoughts about the bars.
The hot-ticket item is currently out of stock on Costco.com.
Other online retailers appear to sell gold bars in various sizes and at different price points.
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