I am not a Costco shopper, for the simple reason that buying in bulk isn’t practical for me — a single person with limited storage space. I have visited their stores in the past, mostly out of curiosity, and was both fascinated by the variety of their stock and impressed by the savings that could be enjoyed by a large family.

But not being a regular visitor, I have been unaware of the true scope of the possibilities offered for the low price of a Costco membership. Until today, that is, when I read that “Costco is now selling platinum bars for $1,089.” [CNN 5 things a.m., October 4, 2024.]

Whoa! What was that again?

I had known that you could find anything at a Costco store from toilet paper to clothes to vitamins to supposedly the world’s best salmon. And that bigger items — furniture, major appliances, and even cars and trucks — were available online. But platinum bars?

“Is that even legal?” — I asked myself. Of course, it must be, or they wouldn’t be able to do it (not openly, anyway). But I read that they had also once offered gold bars, and I was under the impression that they were limited by some government regulation or other. Obviously, I was mistaken.

Now, I am a big Amazon shopper. It’s convenient, usually cost-effective, and they have virtually everything. But I never even considered that they might be a source for gold. So I did a search.

The first item I came up with was a snack bar by Grab The Gold — “Organic, Gluten free, Vegan, Kosher, & Dairy Free – 11g of Protein.” Interesting, especially in the chocolate peanut butter variety, but not what I was looking for. So, moving on . . .

Aha! Here was a “1 Gram Swiss Gold Fortuna PAMP Suise Bar (New w/Assay) in gift pouch,” for $139.99. And another, similar item (though “Suisse” was spelled with two esses), minus the gift pouch but specifying .9999 fine gold, for $135.00. Pricing those out, at about 28 grams to the ounce, an ounce would be worth $3,780.00.

And then I hit the jackpot: the amazing “Chow Sang Sang 999.9 24K Solid Gold Price-by-Weight Gold Koi Fish Ingot for Women and Men (10 Grams, 0.35 Oz),” for the “bargain” price of $1,176.00. Multiply that out, and it comes to $3,360.00 for a full ounce.

Compared to those Swiss bars ($3,780/oz.), that would be a good price. But at today’s market price of $2,660/oz. for gold, it’s a total rip-off, even with the beautiful design. And so is the Amazon price.

Chow Sang Sang is a legitimate Hong Kong jewelry company, listed on the Hong Kong Stock Exchange. And the whole world knows how great Amazon is. But that doesn’t mean their prices are always going to be the best.

It’s one thing to buy a pretty piece of 14K jewelry from Costco or Amazon — you can always have it appraised by your favorite jeweler, and return it if it turns out to be disappointing. But gold bars are not trinkets; they are an investment. My main concern, other than the inflated price, is whether there is a way to determine the true purity of the gold. Has it been altered in any way? And if you’re not satisfied with your purchase, is it returnable and fully refundable?

I keep thinking back to a very old saying: “All that glitters is not gold.”

So maybe I’ll just grab the 144 rolls of toilet paper and a few pounds of salmon, and call it a day.

Just sayin’ . . .

Brendochka
10/4/24