Costco is now selling platinum bars

Costco is expanding its precious metals offerings, building on top of its rollout last year of gold bars, which often sold out within hours. The retailer is now adding 1-ounce platinum bars to its lineup.

Described as 999.5 pure platinum, the new bar is Swiss-made by a refiner that has earned Good Delivery accreditation from the London Bullion Market Association (LBMA), an international trade association for the precious metals industry.

Costco’s gold bars were such a hit with customers that the retailer had trouble keeping them in stock. After the retailer added silver coins to its lineup, Wells Fargo estimated that the chain was selling as much as $200 million of gold and silver each month to its members.

How much does Costco’s platinum bar cost?

The platinum bar retails for $1,089.99 — if you can get it.

The bar is only sold online, and Costco says delivery is unavailable in Nevada, Louisiana and Puerto Rico. But the Costco site on Thursday also noted that the platinum bar was unavailable for delivery in several other locations throughout the U.S., including New York and Utah.

Costco didn’t immediately respond to a request for comment.

Is there a purchase limit?

Yes, Costco says it is limiting members to one purchase, with a maximum of five platinum bars per transaction.

Is platinum a good investment?

The precious metal, which is used in jewelry as well as for industrial items such as catalytic converters, hasn’t had the same kind of recent performance as gold, which has long been viewed by investors as a hedge against inflation as well as a source of financial stability when stock and bond markets are volatile.