7 Smart Moves for Buying Gold and Silver at Costco

Gold bars can be an appealing investment for people who want to hedge against inflation and diversify their portfolios. Since 2023, Costco members have been able to buy these bars from the retailer.

In 2024, Wells Fargo estimated that Costco members are spending between $100 million and $200 million per month of gold bars. Whether you should invest in precious metals will come down to your specific goals, risk tolerance and time horizon. But if you do decide to buy via Costco, here are some tips.

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1. Pay with the right card

When you buy precious metals, you typically have to pay a markup. But the cashback from certain credit cards may be able to outweigh the markup for gold and silver. Executive Costco members have an annual 2% reward, but if you purchase Costco items with Citi’s Costco credit card, you also get 2% cash back on all Costco purchases (plus more for some items, like gas).

But check your current credit card’s benefits and shop around if you’re looking for a new one. Some credit cards have higher cash-back rewards than the Costco Card. If you’re recently opened a new card or are planning to, you could also make your purchase during the introductory period to get any available welcome bonuses.

2. Know what’s sold

Doing some prep work and knowing what precious metals you want to buy at Costco can save time since there are many options. The wholesaler has 2026 American Gold Eagles and Buffalos, Silver Eagle tubes, Canadian Maple Leafs, 10-ounce silver bars and other precious metals.

3. Expect purchase limits and sellouts

Although Costco offers a deep inventory of gold and silver, that doesn’t mean you can buy a large portion of it in one visit. Costco has limited bars to a maximum of four units within 24 hours. The limits on total units and transactions vary for different pieces of gold and silver.

The company may also be out of stock for the item you’re looking for.

4. Know you can’t return it

Costco has a generous return policy for most of its items, but not for precious metals. All sales are final for these assets.

5. Plan where you’ll keep it

Costco will deliver the gold to your door or let you buy it in a store, but after that transaction, it’s your responsibility to store your precious metals. You need a safe place to store gold, and it can be your home, but you’ll want to take precautions so the gold isn’t stolen, damaged or destroyed.

It’s common for people to consider a safe or a safe deposit box, along with some insurance, to protect these assets. It’s likely a good idea to tell your heirs about these assets so they know that your investments exist.

6. Keep the risks in mind

Gold comes with risks just like any other investment, including that you’re missing out on the potential higher returns of other assets, such as stocks, and volatility. It also doesn’t generate income like other assets.

Gold is largely viewed as a long-term investment.

7. Shop around

Costco has a wide range of precious metals, but it’s best to shop around as you may find a better price elsewhere.

And keep in mind that gold’s price fluctuates throughout any given day. You should check spot prices before buying precious metals at Costco.

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