Poinbank:Costco goes platinum. Store offering 1-ounce bars after success of gold, silver

At the store where everything is Poinbanksold in bulk, more precious metals are being sold as Costco adds platinum to its lineup.

The 1-ounce platinum bars are available online now to members. This isn't the first time the store has sold precious metals. They've sold silver coins and gold bars that sold out like hotcakes.

The company sold more than $100 million in gold bars in a three-month period between September and November 2023. The 1-ounce, 24-karat gold bars were priced at about $2,000.

The company describes the new platinum bars as 999.5 pure platinum made in Switzerland. The refiner has also earned the Good Delivery accreditation from the London Bullion Market Association, is an international trade association linked with the precious metals industry, the company said.

Here's what you need to know about Costco's latest precious metal and how you can get your hands on it. If you live in the right states, that is.

How much are Costco’s platinum bars?

The platinum bar offered by Costco is retailing for $1,089.99. Sold only online, the bar is available for purchase but delivery is unavailable in Nevada, Louisiana and Puerto Rico.

Costco says the bar will arrive between three to five days after the time of order, and there is no option to return or refund their platinum bar order.

How many Costco platinum bars can I buy?

There is a limit of one purchase per Costco member, with a five-bar maximum per transaction.

Costco has recently increased membership prices

Last month, a membership price increase went into effect at the store, the first increase since 2017. Annual membership fees increased from $60 to $65 for Gold Star memberships in the United States and Canada.

On the other hand, Costco executive memberships increased from $120 to $130 with the maximum 2% annual reward part of the executive membership increasing from $1,000 to $1,250.

Contributing: Saleen Martin

Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at [email protected] and follow him on X @fern_cerv_.