Jing Pan

Tue, Jun 3, 2025, 12:45 PM6 min read

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For bargain hunters, Costco has long been a go-to destination. The warehouse giant famously still sells its hot dog and soda combo for $1.50 — the same price it launched with back in the mid-1980s. But not every Costco item has held its price as stubbornly as the hot dog combo.

Case in point: gold bars.

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In late 2023, Costco began selling 1-ounce gold bars. At the time, shoppers could choose between two types: the PAMP Suisse Lady Fortuna Veriscan bar and the Rand Refinery bar, priced at $1,979.99 and $1,949.99, respectively, according to Business Insider. Despite the hefty price tag, both quickly became hot sellers.

“When we load them on the site, they're typically gone within a few hours,” then-CFO Richard Galanti said during a September 2023 earnings call. “And we limit two per member.”

Fast forward to today, and not much has changed — except the price.

As of June 2, 2025, the Rand Refinery 1-ounce bar is listed at $3,369.99, while the PAMP Suisse version is priced at $3,389.99. That marks a 73% and 71% increase, respectively, in less than two years.

But the jump in price is in line with the broader gold market, which has surged roughly 72% over the same period. What’s more surprising is the continued demand.

Both the Rand Refinery and the PAMP Suisse gold bars are out of stock on Costco’s website at the time of writing, and the company has tightened purchase limits. Customers are now restricted to “one transaction per membership, with a maximum of two units per 24 hours.”

Gold has long been viewed as a way to preserve purchasing power. Unlike fiat currencies, it can’t be printed at will by central banks.

It’s also considered a classic safe haven. Gold isn’t tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

That’s exactly what appears to be happening now. Markets are getting whipsawed by tariff uncertainty, rising deficits and global tensions — and gold has emerged as a rare bright spot.