Costco Is Selling up to $200 Million in Gold Bars Each Month

Despite robust, online-driven sales, ‘pricing at that level and shipping costs suggests it’s a very low-profit business at best,’ a Wells Fargo analyst wrote.

A Costco wholesale location in Ottawa on July 11, 2022. The Canadian Press/Sean Kilpatrick

Costco has taken in significant revenue since it started selling gold bars online last year, said a Wells Fargo analyst in a note issued on April 9.

The retailer last year started selling one-ounce gold bars for about $2,000 depending on the price of gold. The firm is also selling silver for approximately $675 for a tube of 25 coins.