Costco is putting a limit on a surprising high-demand item!
According to USA TODAY, there's now a limit on how many 24-karat gold bars Costco members can purchase. The publication reported that Costco stated that each member could purchase two 1 oz gold bars, made in South Africa, when warehouse club retail stores announced they would be selling the gold in 2023. USA TODAY reported that members used to be able to purchase "a Maximum of 5 Units Per Day," according to Costco's website in January 2025.
However, due to the gold bar's high demand, Costco's website now states that there's a "Limit of 1 Transaction Per Membership, with a Maximum of 2 Units Per 24 Hours" for the gold bars. In addition, the 1-ounce bars are not refundable.
According to the publication, the gold bars have been popular among Costco members since their introduction in 2023.
"When we load them on the site, they’re typically gone within a few hours, and we limit two per member,” said Richard Galanti, the chief financial officer for Costco, while speaking at Costco's September 2023 earnings call, per USA TODAY.
USA TODAY reported that the price of the Costco gold bars jumped from $2,000 to $3,279.99 over the last 19 months. The publication also reported that gold has had a significant increase in price since the end of 2023.
The former CEO of Costco, Craig Jelinek, who left his role in 2023, opened up about the company's business model in a December 2023 interview on Squawk on the Street. He explained the company ensures its employees have good benefits and a decent wage to prevent turnover.
"You're only as good as everyone around you. We don't want to turn over a lot of employees. People deserve to have good wages. And good benefits," said Jelinek during the interview.
In addition, he said that the company is "not a margin business."
"We just want to sell a lot of stuff. And that's what we do," said Jelinek.
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