Costco Says it Sold More Than $100 Million in Gold Bars

SEATTLE (Scrap Monster):Costco says more than $100 million in gold bars were sold from September through the end of November.

Costco Chief Financial Officer Richard Galanti told analysts during the company’s earnings Thursday that the company sold more than $100 million of gold bars in its fiscal first quarter, according to CNBC. The first fiscal quarter ended on Nov. 26.

Galanti said in September that the 1-ounce gold bars sell out in hours on Costco’s website, CNBC reported.

During the fall, the bars cost between $1,950 and $1,980, according to CBS News.

On Friday, they were selling for $2,069.99 an ounce, according to CNN. There is also a limit on the gold bars -- two per Costco membership.

Costco’s website said that the gold bars come “in a sealed black assay card” and are “individually stamped with a unique serial number,” according to CNN. They are also non-refundable.

The bars are currently out of stock, CBS News reported.

Courtesy: www.kiro7.com