Costco's Newest Item a Major Hit with Members: Platinum Bars for More than $1,000

The items come with a markup of around $94, according to Yahoo Finance, and are available exclusively to Costco members.Photo byGrant BeiruteonUnsplash

Costco has expanded its offerings in the precious metals market by adding platinum to its product lineup, following the successful introduction of gold and silver bars and coins. The retail giant is now selling a 1-ounce platinum bar and a 1-ounce Canada Maple Leaf platinum coin, both priced at $1,089.99 on its website.

The platinum bars are Swiss-made and composed of 999.5 pure platinum. Similar to the popular gold bars, which saw over $100 million in sales in one quarter, the platinum products are expected to sell out quickly. They are available online only, and Costco maintains a strict no-return, no-refund policy.

As of Wednesday, the platinum bar was already listed as "product not available," showing the high demand for these items. Enthusiasts have even formed online communities on Reddit to track restocks and get ahead of other collectors when Costco replenishes its inventory.