Get All Access for $5/mo

Costco Is Now Selling $625 Packs of Silver Coins and $2,000 Gold Bars — and Shoppers Are Snapping Them Up The discount retailer recently started selling the silver coins for the first time.

By Grace Dean

Key Takeaways

  • Costco is now selling packs of one-ounce silver coins, priced at $625 for 25 coins.
  • Its CFO said that sales of the coins and Costco's 24-karat gold bars had led its e-commerce growth.
  • But some shoppers said in online reviews that their coins were scratched when they arrived.
Joe Raedle/Getty Images via Business Insider

This article originally appeared on Business Insider.

It's not just $2,000 gold bars you can buy from Costco — customers can now snap up $625 packs of silver coins, too, as the retailer expands its precious metals business.

The discount retailer recently started selling the coins for the first time, CFO Richard Galanti told CNN.

On Costco's website, you can snap up a 25-count pack of 2024 Canada Maple Leaf silver coins. Each coin weighs one troy ounce and is made of 99.99% pure silver, Costco says.

The coins, from the Royal Canadian Mint, have an image of King Charles III on one side and a maple leaf on the other. They have a face value of 5 Canadian dollars each.

The head and tail of the Royal Canadian Mint's $5CA silver coin

The coins have an image of King Charles III on one side and a maple leaf on the other. Costco via Business Insider

Galanti told analysts on Thursday that Costco's e-commerce sales growth in the quarter was "led by sales of gold and very recently silver." Comparable e-commerce sales in the quarter to February 18 were up 18.4% compared to the same period the prior year.

Galanti had previously said at Costco's earnings call in September that the 24-karat gold bars, priced at about $2,000 each, had been selling out in just a "few hours." He later revealed that customers had spent $100 million on the bars in the quarter to November 26.

Gold prices hit an all-time high this week.

Some shoppers say their coins from Costco were scratched when they arrived

The Royal Canadian Mint says that the silver coins feature "enhanced" security features, including anti-counterfeiting technology, and protection to reduce the likelihood of them developing white discoloration spots.

The coins can't be returned or refunded and are limited to five cases per membership, all of which must be bought in one order. The price includes insured, signed-for air shipping via UPS. Customers can't get them delivered to Puerto Rico, Alaska, or Hawaii.

But compared to the gold bars, which have 4.8-star ratings on Costco's website, the packs of silver coins have a rating of just 3.4 stars, based on 42 reviews. Many of the reviewers referred to the packaging and shipping of the coins, saying that the cases were unsealed when they arrived and the coins had spilled out. Multiple reviewers said that the coins were scratched as a result.

Business Insider has contacted Costco for comment on the reviews.

Costco sells an eclectic range of merchandise. Alongside massive multipacks, the retailer sells various unexpected items to create a treasure hunt experience. It stocks some higher-end items, too, like expensive jewelry and luxury seafood.

And if you want to convince your friends that you really do love Costco as much as you say you do, you can get your hands on a range of Costco-branded apparel and even a Monopoly set.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Living

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.