Families looking to buy huge packs of toilet paper and dirt cheap hot dogs at Costco can now make out like old-timey prospectors, 'cause the retailer's got gold to spare, which is flying off their digital shelves ... to the tune of potentially hundreds of millions.
The store known for selling everything in bulk is in the precious metals game these days ... selling 1-oz, 24-karat gold bars in their stores for around $2,400 a pop. This has been going on for about 6 months or so now, and at this point ... it's apparently a money-maker.
Analysts at Wells Fargo reportedly told its clients earlier this week that Costco might be bringing in between $100 million and $200 million on gold sales each month. Wowza!
Now for those folks thinkin' about buyin' up all Costco's gold supply, take a breath ... 'cause the warehouse giant's got rules about purchasing the gold.
It's limiting customers to just 5 gold bars per membership. Of course, these things go like hotcakes ... and get snatched up on their website within hours anytime they restock.
Funny enough, CNBC's also reporting the company's not turning a huge profit on the gold ... with cash-back offers and shipping costs mercilessly cutting into the bottom line. In other words, the great deals Costco offers make the gold bars a steal ... if you can get' em, that is.
That said, the company's bought up a Fort Knox-level of gold regardless ... and, could be saving it for a rainy day. Some economists are suggesting them selling gold is a smart biz move -- as more investors seem to be pivoting back toward assets like gold, etc.
So, get your gold while you can ... and grab some massive cans of tuna while you're at it.