Costco Offers Customers a Golden Opportunity Skip to content

Costco Offers Customers a Golden Opportunity

By Larissa Kyzer

Photo: Screenshot, Costco circular.

Iceland had its own mini gold rush on Wednesday after Costco advertised gold bars for sale, RÚV reports. The wholesale retailer sold its entire treasure trove, worth four million krónur [$28,785; €24,289], in a single day.

Advertised in an email sent to customers on Tuesday night, tucked in amongst deals on rain slickers, Sirloin steaks, power tools, and brownie bites, six gold bars were available on a first-come, first-serve basis; two of each in the weights of 20, 50, and 100 grams [.7; 1.8; 3.5 oz]. Demand for the pirate’s booty was certainly higher, however: a Costco employee said that nearly every call they received the next day was an inquiry about the lavish loot. Luckily, more gold bars are expected to be available in the near future.

The gold bars weighing 20 grams were priced at ISK 224,000 [$1,611; €1,360]; the 50-gram bars were sold for ISK 550,000 [$3,957; €3,339], the 100-gram bars for ISK 1.12 million [$8,058; €6,800].

Per these prices, Costco was offering its golden plunder for ISK 11,000 a gram [$79; €67]. The global market price for gold fluctuates constantly, but at time of writing, the market price was ISK 8,630 a gram [$62; €52].

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