Blog How to Sell Costco Gold & Turn a Profit
Front entrance of a Costco Wholesale store

How to Sell Costco Gold & Turn a Profit

Precious metal sales have been surging among a new wave of gold investors – anyone with a Costco membership! The warehouse retailer started selling 24-karat gold bars last October, along with silver coins a few months later. Costco’s bullion products have been extremely popular, selling out within hours. According to a Wells Fargo estimate, Costco members are spending as much as $200 million monthly on gold and silver.

The Millennial Gold Rush

For centuries, people have been leveraging precious metals to protect their wealth during times of inflation and economic uncertainty. But we’re now seeing an influx of millennial investors – Costco gold buyers included – who have a more optimistic outlook on gold compared to older generations. According to financial services company State Street, the average millennial invests 17% of their portfolio in gold, with Gen X and baby boomers trailing behind at about 10%. And a 2023 Gallup poll found that consumers rated gold as a better investment than stocks and mutual funds for the first time in a decade.

Buying Costco Gold

Costco gold bars come in two different 1-ounce options. Buyers can choose from the Lady Fortuna gold bar made by Swiss-based refiner MKS PAMP, or Rand Refinery’s bar with a design featuring elephants on the back. The Lady Fortuna bars come with digital certificates, whereas the Rand Refinery bars have serial numbers.

For first-time gold buyers, Costco has the appeal of familiarity and ease. Rather than opening an account and buying gold shares, investors can simply order gold online or even go pick it up in select stores.

The 1-ounce Lady Fortuna 24-karat gold bar minted by PAMP Suisse, a Swiss precious metals refinery
The 1-ounce Lady Fortuna 24-karat gold bar minted by PAMP Suisse, a Swiss precious metals refinery, offered at select Costco stores.

Selling Costco Gold to Realize Gains

Shoppers around the country are eager to invest in precious metals and take advantage of gold’s recently soaring prices. Once a gold bar is purchased, when the price of gold climbs further, some investors will sell their gold in order to reap cash returns.

While buying gold bars has become more convenient than ever, selling gold bars or coins can be a little more tricky. Many purchasers of Costco gold bars have been wondering how to sell their recent purchases for a profit. Costco doesn’t buy back or accept returns on gold bars, and many gold-buying businesses offer much less than the market price of gold. Most cash-for-gold operations aim to buy gold cheaply and then sell it at a much higher price, making it challenging for sellers to fully profit from gold’s rise in value since the time of their purchase.

Where is the Best Place to Sell Costco Gold?

In order to maximize your returns when you’re ready to sell your Costco gold bar (or any gold product, for that matter), look no further than Garfield Refining. While we’re primarily known for buying jewelry gold and dental scrap, we also buy (and sell) gold and silver bullion as well!

Unlike many online gold-buying businesses who act as middlemen, Garfield offers both the convenience of an online buyer with the high payout percentage of a gold refinery. We’ll value your item based on the current market price of gold.

A 1-ounce Loxodonta Africa gold bar produced by the Rand Refinery in South Africa
Costco also offered the Loxodonta Africa gold bar is a 1-ounce bullion produced by the Rand Refinery in South Africa.

As an established precious metals refinery that has been specializing in gold for over a century, Garfield makes selling gold easy. We pride ourselves on transparency, a smooth and secure transaction process, and getting our clients the highest possible payouts. We prioritize long-term relationships with our clients, and we’re known for our exceptional customer service.

How to Sell Costco Gold

Garfield’s process is quick, easy and secure. When you’re ready to sell your gold, simply visit our website, fill out our form, and we’ll send you a free, insured shipping label. Once your shipment arrives at Garfield, we’ll send you a confirmation email to let you know that we’ve received it. And if you’re ever wondering about the status of your shipment, feel free give us a call. You can always speak to a real, live person from our Philadelphia-based refinery. Our customer service team is incredibly friendly and helpful!

Once your shipment is received, you’ll get paid within just a few business days. We offer several payment options including checks and direct deposit. Or, you could even choose to exchange your value for bullion coins or bars! Not only do we buy bullion, but we sell it as well.

Why Garfield Refining?

With 132 years in business and over 1 million satisfied customers, Garfield Refining has built an unparalleled reputation as one of the country’s premier precious metals refineries. We offer the highest possible payouts for your gold, silver and other precious metals, and we guarantee you’ll be happy with our seamless transaction process. Whether you’re looking to sell a Costco gold bar, bullion of any kind, gold jewelry, or even a dental crown, we’re here to help!

Ready to sell your gold bullion? Download a free shipping label today!