Following on from the huge success of its initiative to sell gold bullion investment products which launched in the second quarter of 2023, Costco has added platinum bullion bars and coins to its range of precious metals investment products. As a membership warehouse club, dedicated to bringing its members the best possible prices on quality brand-name merchandise, Costco is the third largest retailer globally with US$234.2 billion retail sales in 2023.
Costco is now stocking the 999.5 pure platinum 1 oz ‘Fortuna’ platinum bar minted by renowned Swiss precious metals refiner PAMP. Costco members in the US can purchase a maximum of five bars per member from its online store. Accredited by the Swiss Federal Bureau, each bar is individually registered and sealed within protective CertiPAMP™ packaging with an integrated and official Assay Certificate that guarantees fine precious metal content and weight, protected by a removable film.
In addition, the iconic 2024 1 oz platinum bullion Canadian Maple Leaf coin, struck in 999.5 fine platinum by the Royal Canadian Mint, is also available for members to purchase. Limits apply, with one transaction per member permitted and the total number of coins capped at five per member.
Accessible platinum investment
Platinum bullion products, including bars and coins, are already widely available to investors in the US through a network of precious metals retailers. Here, they can be held as part of an individual retirement account (IRA) and included in a 401(k) retirement account.
1 oz Platinum Fortuna bullion bar, obverse. Picture credit: PAMP
Commenting on the inclusion of platinum in Costco’s portfolio of physical precious metals investment products, Trevor Raymond, Chief Executive Officer of the World Platinum Investment Council, said:
‘We are delighted that Costco is making platinum investment even more accessible for investors in the US and bringing the ability to own platinum as an asset for retirement planning purposes to a wider audience. The timing could not be better, as the investment case for platinum is especially compelling. Platinum is a precious metal that is currently undervalued when compared to gold despite having strong demand and a shortage of supply.’
