Much to the joy of eager customers, wholesale retailer Costco began selling two different 31.1-g (1 troy-oz), 24-karat gold bars earlier this year—one from Swiss precious metal supplier PAMP Suisse and another by South African mining company Rand Refinery. A hot-ticket item from the start, the products are often out of stock on Costco’s marketplace.
According to chief financial officer Richard Galanti, the company sold more than C$130 million (US$100 million) in gold bars over a period of four months (September to November 2023). Only available for online purchase, the bars are delivered via UPS. Costco members are limited to purchasing only two bars.
Each gold bar from Rand Refinery is imprinted with a distinct serial number and packaged with a securely sealed black assay card. The PAMP Suisse gold bars are also accompanied by a tamper-evident assay card and access to PAMP Suisse’s Veriscan technology.
Although the Rand Refinery gold bar is not currently visible on their website, Costco Canada lists a 31.1-g (1 troy-oz), 24-karat Royal Canadian Mint gold bar amongst its products—though stock may not be available at the time of this article.
Pamp doesn’t make these bars in 28.3 grams. If this bar is a one ounce bar, it is a troy ounce bar, and troy ounces have 31.1 grams.
I just checked the Costco website, They are listed as troy oz, 31.1g. An error in the writing of the article. Costco is selling them for about $85 over the bid price of 1oz gold, wich is about $15 less than usual. There is a limit of two per member, which will save you $30 on $5660. Not that big of a deal, really .
Problem with this is they wont buy them back from .Your better to buy them at the bank or bullion dealer at least they guarantee they will buy back at full market price less a very small fee .