How much do Costco's gold bars cost? Here's what investors should ...

Costco is selling two types of 1-ounce gold bars to its members — and there has been big demand for this new product.  Getty Images

As an investment, gold makes a lot of sense. Not only does this precious metal offer investors a way to hedge against inflation, but it is also a store of value and a smart way to diversify your investment portfolio to mitigate risk from other investments. 

Those unique benefits are a large part of why interest in gold investing — which ranges from gold bars and coins to gold stocks and gold IRAs — has skyrocketed in popularity in recent years. And, one recent indicator of the growing demand for gold is that the warehouse giant Costco is now selling 1-ounce gold bars to members through its website.

Costco currently offers two different types of 1-ounce gold bars for purchase, and the retailer says there has been hefty demand since the bars were introduced. But if you're thinking about buying a few gold bars from Costco, you may want to know how much it will cost you first to make sure you're getting a good deal.

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How much do Costco's gold bars cost? 

Costco is currently selling two types of gold bars on its website: a 1-ounce gold PAMP Suisse Lady Fortuna Veriscan bar and a 1-ounce bar from South Africa's Rand Refinery. And, the two bars are pretty comparable in price, with the PAMP bar listed at $1,980 and the Rand bar listed at $1,950.

But because demand has been so strong, the warehouse retailer is limiting each member's purchase to a maximum of two gold bars. And, it could be tough to get your hands on gold bars through Costco. According to the company's CEO, the gold bars have been selling out within a matter of hours after they're listed — and as of Friday morning, the gold bars were listed as unavailable on Costco's website, a likely indicator that they are still sold out.

So what can you do if you want to buy gold bars but can't get them through Costco? Or if you want to purchase more gold bars than the two-bar limit for Costco members? Well, the good news is that you have other options.

Learn more about your gold investing options here.

Costco's gold bars are sold out, but there are other buying options

Here are a few other places to buy gold bars if you can't get them at Costco:

Licensed online retailers

There are numerous reputable online retailers that you can easily purchase gold bars from. And, if you're looking to buy a large number of gold bars, some licensed online retailers may even offer discounts on large purchases (or for paying for your gold with a credit card). Some offer discounts for buying in large quantities or paying for your purchase by credit card.

You have a wide range of reputable online gold dealers to choose from, including JM Bullion, American Precious Metals Exchange (APMEX) and American Hartford Gold. But these aren't the only options you have, so be sure to compare your options. And, before you make any purchases, be sure to read customer reviews and learn about the dealer's reputation on sites like the Better Business Bureau.

Brick-and-mortar retailers

If you prefer to buy gold bars in person, you can visit a local precious metal retailer to make your purchase. But, as with online retailers, it's important to do your homework to make sure that you're buying from a trusted dealer and getting authentic gold bars that meet purity standards.

Before you take this route, make sure to explore the retailer's customer reviews and learn about their reputations through the same sites you'd use to vet online retailers. You may also compare prices before you make a purchase. It's not unusual for there to be big markups on gold bars when you're buying them in person due to these stores having higher overhead. Knowing the spot price for gold will also help you make an informed decision on who to buy your gold bars from.

Banks and credit unions

You may also have the option of buying gold bars from a bank or credit union. That said, the options may be limited compared to an online or brick-and-mortar retailer — and it may be difficult to find a financial institution to buy them from. If you want to take this route, your best bet is to call beforehand to ensure that the bank or credit union is offering gold bars for sale. 

The bottom line

Costco is offering two gold bar options currently and both have price tags that are slightly under $2,000. But if you're planning to make your purchase from the warehouse retailer, it could be difficult. The high demand has resulted in Costco's gold bars selling out within a matter of hours after they're listed. But the good news is that there are plenty of other options for buying gold bars if you want to make an investment in this precious metal, including banks, online retailers and brick-and-mortar precious metal shops. Whatever route you take, though, just be sure to do some research first to ensure you're getting an authentic product at a good price.