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Costco adds platinum bullion bars, coins to its online precious metals investment offering

7th October 2024

By: Darren Parker

Creamer Media Senior Contributing Editor Online

     

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The world’s third largest retailer Costco has added platinum bullion bars and coins to its range of precious metals investment products.

This follows the company’s initiative to sell gold bullion investment products, which launched in the second quarter of 2023.

Costco, which offers a membership warehouse club, is now stocking the 999.5 pure platinum 1 oz ‘Fortuna’ platinum bar minted by Swiss precious metals refiner Pamp.

Costco members in the US can buy a maximum of five bars each 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 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 buy.

However, limits apply, with one transaction per member permitted and the total number of coins capped at five each.

Platinum bullion products, including bars and coins, are already widely available to investors in the US through a network of precious metals retailers.

In the US, these can be held as part of an individual retirement account and included in a 401(k) retirement account.

“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,” World Platinum Investment Council CEO Trevor Raymond said on October 4.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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