Costco is making waves once again with the introduction of its new platinum bars, following the tremendous success of its gold bars. Each platinum bar weighs one ounce and is priced at $1,089.99.

In a report by NBC, Costco revealed that these platinum bars became available on October 2, but only through its website. Access is limited to Costco members, and it’s worth noting that there are currently no delivery options for this product in Louisiana, Nevada, and Puerto Rico. Manufactured in Switzerland, these bars are beautifully engraved with intricate patterns. As highlighted on Costco’s website, each bar features a purity of 999.5% platinum, and importantly, they are non-returnable. Members can purchase only one bar, with a maximum limit of five bars per transaction, and price adjustments will not be accepted.

This launch represents Costco’s latest foray into the rare metals market, following the successful rollouts of gold bars and silver coins. Since debuting gold bars in August 2023, they have flown off the shelves, selling out within just a few months. Analysts from Wells Fargo reported that Costco moved approximately $200 million worth of gold bars in April alone. Back in September, Richard Galanti, who was Costco’s financial chief at the time, mentioned during a conference call that gold bars typically sold out within hours once restocked online, with each member capped at two bars.

Over the past five years, gold prices have steadily risen, increasing by a total of 70%, with a striking 40% jump just in the last year. On the other hand, platinum prices have shown considerable fluctuation over the years, climbing 15% in the past year but experiencing an 8% drop since the beginning of 2024. Earlier this year, platinum was valued at approximately $1,100 per ounce.