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How to test gold at home?

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Gold has been a symbol of wealth and prosperity for centuries. With its value and popularity, it’s no surprise that counterfeit gold items have become a common issue.

To protect yourself from purchasing fake gold, it’s essential to learn how to test gold’s authenticity at home.

If you’re having doubts about a bullion coin or bar that you have in your collection, take a look at FakeBullion.com where you can compare your piece to known counterfeits.

Methods for Testing Gold at Home

1. Magnet Test

The simplest way to test gold is by using a magnet. Pure gold is not magnetic, so if your gold item attracts the magnet, it’s likely not pure gold. Be wary with online purchases as there are many plated and counterfeit items that are frequently seen for sale through Facebook Ads which link to misspelled domain names, or have prices well below melt value. It’s also import to due your own due diligence with Facebook groups, Instagram, Reddit and other social selling and trading platforms. Some look genuine right down to the packaging and hallmarks.

2. Specific Gravity Test

Gold has a high density, approximately 19.3 grams per cubic centimeter (g/cm³). To perform a density test, you’ll need a scale and a measuring container filled with water. Weigh the gold item and then submerge it in water to measure the water displacement. Calculate the density using the formula: Density = (mass / volume).

To test gold using the specific gravity method, follow these detailed steps:

  1. Weigh the Gold in Air: Begin by using a precision scale to measure the weight of the gold item in grams. Record this weight as the dry weight (DW).
  2. Prepare the Water Container: Fill a water container with enough room temperature water to submerge the gold item completely without touching the sides or bottom.
  3. Weigh the Water Container: Place the water container on the scale and press “tare” to make the scale zero. This will account for the weight of the container itself.
  4. Weigh the Gold in Water: Lower the gold item into the water container using a string suspended from a pen or pencil. Record the weight of the water container with the gold item submerged. Be sure to record the weight without the pen or pencil resting on the glass. This is the wet weight (WW).
  5. Calculate Specific Gravity: Subtract the wet weight (WW) from the dry weight (DW) to find the difference (DW – WW). Then, divide the dry weight (DW) by the difference (DW – WW) to calculate the specific gravity (SG) of the gold item.
  6. Compare with Known Specific Gravity: Compare the calculated specific gravity with the known specific gravity of pure gold, which is 19.3. If the calculated specific gravity is close to 19.3, the gold item is likely to be pure. Lower specific gravity numbers may indicate various karats.

Based on the specific gravity, you can determine the approximate purity or karat of the gold item.

Specific Gravity RangePurity
19.13-19.5124 Karats
17.45-18.2422 Karats
16.03-17.1120 Karats
14.84-16.1218 Karats
12.91-14.4414 Karats
Less than 12.91Less than 14 Karats
Gold Karat Specific Gravity Chart

Keep in mind that this method provides a non-destructive way to test the purity of gold, but it may not be as accurate as more advanced techniques used by professionals.

3. Visual Inspection

Look for hallmarks or stamps on the gold item, which usually indicate the karat or purity of the gold.

18k Gold Filled (GF) mark

Common stamps include 10K, 14K, 18K, and 24K. However, other marking may indicate that the piece is gold filled, rolled gold or electro-plated.

Pieces that include “GF” or “RFG” next to or near the karat marking contain only a tiny fraction of the amount of gold. These pieces are variations of plating that use a thin layer of gold on top of a base metal. Some pieces may also include a fraction that indicates what percentage of the piece is actual gold.

The marking on gold-plated items may include ‘GP,’ ‘GE,’ or ‘HGE.’ These electro-plated itemswould be contain only a thin layer of gold over base metal.

4. Acid Scratch Test

The acid scratch test is one of the most reliable methods for testing gold’s authenticity at home. This test involves scratching the gold item with a testing stone and applying different acid strengths to determine the gold’s purity.

Where to Purchase a Gold Testing Kit

You can purchase a gold testing kit online or at a jewelry supply store. A reliable kit should include various acid solutions for testing different karat levels (e.g., 10K, 14K, 18K, and 22K) and a test stone, usually a piece of black slate.

Amazon has a variety of testing kits that include acid solutions and a test stone for around $30. You can find one with a testing kit with wooden storage box for around $45.

How to Use a Gold Testing Kit for the Acid Scratch Test

  1. Clean the gold item and the test stone with a soft cloth to remove any dirt or oils.
  2. Choose the appropriate acid solution based on the karat you want to test. For example, use the 14K acid for a piece you suspect is 14-karat gold.
  3. Place a small drop of the acid solution onto the test stone.
  4. Use a gold testing needle or a small, sharp instrument to scratch the gold item gently. Collect a small amount of gold on the testing stone.
  5. Apply the gold streak from the item onto the drop of acid on the test stone.
  6. Observe the reaction. If the gold streak dissolves or reacts with the acid, the gold is less than the karat of the acid applied. If the streak remains unchanged, the gold is at least the same karat as the acid used.
  7. Clean the test stone and repeat the process with different acid strengths to determine the gold’s purity accurately.

Other Ways to Test Gold

These tests can help you avoid purchasing fake or low-quality gold items or for testing gold for authenticity at home. Although counterfeits are getting better, using a combination of visual inspection, specific gravity test and acid scratch test, you can determine the gold’s authenticity with a high degree of confidence.

For the most accurate results, it is recommended to consult a local coin shop, pawn shop or professional jeweler who will likely have a Sigma PMV that can be used by professionals for verifying gold purity.

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Costco Now Offering Gold Bars Daily, Providing Opportunities for a Quick Profit

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Gold investors have taken notice of the great prices on select coins and bars at Costco, and the warehouse club has responded by increasing the frequency of their offerings.

Costco sells only a handful of gold and silver coins from US Mint and Royal Canadian Mint, while limiting the selection of gold bars to PAMP Suisse and Rand Refinery.

These gold Bars from Costco are eligible for the warehouse club’s Executive Membership 2% annual reward, which provides a “cash-back” rebate on purchases that can later be used for additional club purchases. Additionally, the Costco Anywhere Visa Rewards Credit Card provides an additional 2% in cash back rewards, bringing the total combined “discount” to 4%. Some investors using other rewards credit cards have claimed cash-back rewards as high as 5%, which provides even greater flexibility.

In a recent listing, Costco had listed the PAMP Suisse 1 oz Gold Bar with a price of $2,389.99, while the daily spot gold price was trading at $2,322.90, a difference of $67.09, which is roughly a 3% premium over the melt value.

Taking into account the available rebates and discounts, the net purchase price is roughly $2294.39, which is roughly 1% below the melt value. By itself, this is a great deal for a 1 oz Gold Bar. However, when combining the additional rewards that may be available, it can bring the discount to 2% to 3% below the melt value.

The /r/CostcoPM subreddit tracks all of Costco’s product pages to notify investors when inventory is available as well as the price. Costco is now offering gold products more frequently, with some of the more popular bullion items being available daily.

What is Gold Flipping?

Gold flipping is the process of buying gold at a lower price and selling it at a higher price. It’s that simple. The challenge lies in timing your buys and sells correctly to maximize profits. The fluctuating price of gold can work to your advantage if you learn to read the market trends and make informed decisions.

Even though the price of gold has recently hit it’s all-time highest value. Many industry analysts and commodities traders believe that the gold price will climb much higher than it is today due to ongoing changes to the global economy.

In a recent report for Citi, precious metals analysts predict that the price of gold could reach easily reach $3,000 per ounce by 2025.

Factors Affecting Gold Prices

Several factors affect gold prices, and understanding these can help you time your trades better.

  • Supply and Demand: Like any other commodity, the price of gold is largely influenced by its supply and demand. A higher demand and a lower supply will naturally drive the prices up. At the wholesale level, commodities markets like COMEX and SGE store large amounts of 400 oz gold bars in vaults in New York, London and Shanghai. These gold bars are sold in advance as part of futures contracts, with investors taking physical delivery at a later date.
  • Economic Conditions: The state of the economy plays a significant role in gold prices. During economic downturns or times of uncertainty, investors flock to gold as a safe haven, driving the prices up. With high inflation and the highest mortgage rates in decades, many investors have been moving excess cash into gold to offset volatility in other assets.
  • Inflation and Interest Rates: Gold is a tangible asset that is considered a hedge against inflation. When inflation rises, gold prices usually increase. Likewise, lower interest rates make gold more attractive as an investment, pushing up its price.
  • Geopolitical Events: Any major geopolitical event, such as wars or political instability, can cause gold prices to spike as investors look for safe-haven assets. Ongoing dedollarization efforts by BRICS countries are also contributing to the price of gold, which is globally priced in dollars.

Flipping Costco Gold Bars

While they continue offering the same selection of products, the frequency of available inventory has increased, with many gold products available daily.

Both seasoned gold investors and curious newbies have discovered ways to flip Costco gold bars, turning this include a lucrative side-hustle among rising gold prices.

The gold bars sold by Costco are manufactured by PAMP Suisse and Rand Refinery. These bars are minted with 24k gold and are offered in limited supplies. These gold bars are sold in standardized weights, making them easy to trade.

When these products are available for sale on the Costco website, the pricing is very competitive compared to traditional precious metals dealers. The Costco gold bars are typically priced 1% to 2% lower than the competition. This low market price provides an opportunity that allows investors to leverage the buy/sell spread to squeeze profits from the sale.

How and Where to Sell Costco Gold Bars

Costco deviates from their traditional returns policy and has implemented a “no returns” policy with regard to gold bars. Investors looking to sell gold bars or coins that were bought from Costco will need to find another avenue for selling.

Gold bars are an asset that is easily tradable for cash in most cities and towns around the country. In most areas, the best place to sell gold is usually at local coin stores. Gold has been a form of money for thousands of years and prior to 1933, most Americans used $20 gold coins for both large transactions and as their personal savings. Local coin stores are experts and brokering physical precious metals trading.

Additionally, selling to an online precious metals dealer is an option, especially for those looking to liquidate a large collection. Online bullion dealers are regular buyers of complete portfolios for investors looking to maximize the value of their investment.

We Buy Gold Stores, Pawn Shops and other retail locations may offer convenience, but most will typically offer far below market value. It’s easy to call around and ask for price quotes over the phone when selling gold bullion bars, as these are generally bought and sold based on premiums above or below spot price.

Tips for Maximizing Profit

To make the most out of your gold flipping venture, here are some tips you can follow:

Timing is Everything

Gold prices fluctuate daily. As with any investment, target a low buying price and higher selling price while also keeping track of dollar-cost average.

While some online dealers like APMEX offer a portfolio tool that tracks purchases, many investors find that using a spreadsheet or Google Sheets to be the most effective tracking tool. This is one of the most frequently asked questions in the /r/Silverbugs subreddit. There are queries available that allow you to import the current spot price, which offers the ability to track the value of your investment in near real-time with the markets.

Build Relationships

Building relationships with local coin stores and gold dealers, pawn shops, “We Buy Gold” stores can give you a reliable selling channel and sometimes even better prices. Regular interactions can also lead to great deals when you’re looking to buy.

Store Your Gold Safely

While waiting to sell, ensure that your gold bars are stored safely. A home safe or a safety deposit box is a good investment to protect your assets. If consider a bank safe deposit box, be sure to understand that local banks typically have limited hours, which limits your access to your assets only during their operating hours. Also, many banks have begun to cancel safe deposit box services, leaving many customers’ valuable assets in jeopardy.

Understand Tax Implications

Profits from selling gold are subject to capital gains tax. Keep records of your purchases and sales, and consult a tax advisor to understand your obligations.

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How do Costco Gold Bar Prices Compare

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Costco added a several product lines of 24k Gold Bars to their online store and select warehouses last year, to which their members have taken quite a shine. These investment-grade gold bars are minted from 24k pure gold (.9999 fine) and are minted by a variety of private refineries.

Periodically, Costco will post gold bars for sale on their website at a fixed price relative to the current gold price.

On a recent trading day, Costco offer PAMP Suisse 1 oz Gold Bars for around $61 over that day’s gold price, which was a premium of around 2.6%. The lowest dealer price for the Lady Fortuna Gold Bar that day was around $76 over melt value, roughly 3.24%.

It’s estimated that they are selling up to 80,000 ounce per month. While the low premiums are low, many are maxing out the Executive Membership rewards while leveraging credit card offers to maximize cash back for buying gold bars.

Costco offers these various gold bars with a limited inventory like a “flash sale”. Once the available stock is sold out, the listing becomes inactive. The r/CostcoPM group on reddit tracks the latest offerings as they are available, but most Costco gold bars are sold out within an hour or two.

These same brands of gold bars are generally available in the bullion markets and can be bought from many trusted and reputable bullion dealers.

Most investors in physical gold bars will become familiar with the local coin stores in their area and will also have a handful of favorite online dealers. Not only can this be helpful in adding to your portfolio, but it is also good for down the road, when its time to sell. Local coins stores actively trade in precious metals due to their expertise in gold coins and are familiar with market conditions.

The employees at local coin stores can be extremely knowledgeable when it comes to tangible assets and will often have insights into the buy/sell spread in the local area. While online bullion dealers offer a large selection of products, including bars that are available in a variety of denominations that are less than a full ounce. Fractional gold bars are available in a range from as small as 1 gram to as large as 20 grams and are popular will investors with more modest budgets.

The smallest denomination available from Costco so far has been the 25 gram PAMP Multigram gold bar, which is comparable in price to a full 1 oz gold bar. Buyers looking for smaller denominations of fractional gold bars will have more choices shopping with online bullion dealers.

The brands that Costco has offered so far have been limited to those from PAMP Suisse and the Rand Refinery. Both are among the most reputable refineries and private mints, however, the cheapest 1 oz gold bars are often those from the secondary market.

RAND Refinery

Established in 1920, The RAND Refinery plays a central role in processing gold from the renowned South African gold mines. With over a century in operation, the RAND Refinery has established a strong reputation for reliability and quality in the global precious metals market which contributes to its trusted status among investors and collectors.

Depending on the market conditions, gold bars from the RAND Refinery can be cheaper and may be more cost-effective with a lower price per ounce compared to those from other refineries. RAND Refinery’s gold bars are a highly liquid investment that is recognized and accepted worldwide.

RAND 1 oz Gold Bar

Costco Product Page: Item #1768080

RAND 100 Gram Gold Bar

Costco Product Page: Item #179644

PAMP Suisse

PAMP Suisse is a private mint based in Ticino, Switzerland. Established in 1977, the company has grown to become a leader in the precious metals industry with an outstanding reputation for producing gold bars of the highest quality. Each newly minted gold bar is produced to the industry standard of .9999 fineness and is accompanied by an assay certificate that guarantees its purity and weight.

PAMP Lady Fortuna Series

The Lady Fortuna has received several updates and refinements throughout its 45th year history, making it the most iconic and recognizable brand in the gold market.

Combined with PAMP Suisse’s industry leading Veriscan technology that captures the unique topographical characteristics of each gold bar. A mobile app is available that allows investors to instantly authenticate PAMP Suisse Gold Bars by uploading a series of images, which are then compared to those stored in Veriscan database during the time of minting. This anti-counterfeiting measure helps assure investors that they are buying genuine investment-grade gold bars.

1 oz Lady Fortuna Gold Bar

PAMP 100 gram Lady Fortuna Gold Bar

Costco Product Page: Item #1801206

PAMP 50 gram Gold Bar

Costco Product Page: Item #1782174

PAMP 1 oz Lady Fortuna Gold Bar

Costco Product Page: Item #1748080

PAMP 20 gram Lady Fortuna Gold Bar

Costco Product Page: Item #1782171

Multigram+25 Gold Bars

The PAMP Multigram+ line contains various quantities of 1 gram gold bars in a single assay card. The card is divisible and each 1 gram gold bar can be separated while staying sealed within a mini assay card.

So far, Costco has only offered to Multigram+25, which contains 25 grams of .9999 fine gold. Other sizes in the product line include the Multigram+12, which contains 12 individually sealed one gram gold bars. Additionally, the Platinum Multigram+25 is also available, which can provide some additional diversity to your holdings.

PAMP Multigram+25 1 gram Gold Bars

Costco Product Page: Item #1811661

PAMP Rosa Series

The most distinctive feature of the Rosa series is the intricate rose design engraved on the bar’s obverse side. The detail, sophistication and precision of PAMP Suisse’s refining and minting process is showcased with PAMP Rosa design.

The Rosa design features a single, detailed rose in full bloom at the center of the bar. The rose, with its layered petals unfolding, is depicted with fine lines that showcase the intricacies of its natural form.

Surrounding the rose is a plain, mirror-like finish that contrasts with the textured detail of the rose encased within a border that frames the design, giving it a finished, refined look.

The reverse of the bar is stamped with the PAMP hallmark circles logo, along with the weight and purity information and a unique serial number that matches the tamper evident assay card.

PAMP 100 Gram Rosa Gold Bar

Costco Product Page: Item #1782169

PAMP 50 gram Rosa Gold Bar

Costco Product Page:

PAMP Rosa 1 oz Gold Bar

Costco Product Page: Item #1782167

The Rosa design is one of the signature motifs from PAMP Suisse. The rose is a symbol of beauty, love, and often secrecy. The PAMP Rosa design taps into this rich symbolism and the universal appreciation for the flower’s beauty.

Each minted gold bar is made using a die-striking process that imprints the design onto the bar.

PAMP Lunar Legends Series

Like other PAMP Suisse products, the Lunar series bars are available in high purity .9999 fine gold. The designs are renowned for their intricate detailing and artistic quality. To celebrate the Year of the Dragon, PAMP Each bar features an image of the zodiac animal for that year, often depicted in a style that combines traditional and modern artistic elements.

The Azure Dragon is part of the Four Symbols and is considered important for creating balance and harmony in the environment. It is often paired with the White Tiger on the opposite side to balance yin and yang energies.

Each bar comes packaged in a tamper-evident assay card with an individual serial number and a certificate of authenticity.

PAMP Lunar Legends Azure Dragon 1 oz Gold Bar

Costco Product Page: Item #1778080

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How do the prices of Costco Silver and Gold Coins Compare to Online Bullion Dealers?

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In a move that caters to the growing interest among consumers, Costco has broadened its selection of precious metals, introducing an array of new coins and bars to cater to the growing interest in tangible assets. The addition includes a variety of gold and silver coins and bars from renowned mints around the world, making it easier for members to diversify their investment portfolios.

The new lineup features investment-grade bullion coins such as the American Gold Eagle, Canadian Maple Leaf, along with various sizes of gold bars from PAMP Suisse and the RAND Refinery. These offerings are tailored to both seasoned investors and those new to precious metals, providing competitive pricing that aligns with Costco’s commitment to value.

Costco is able to leverage its membership model to offer competitive pricing on precious metals, while providing members with Cash Back rewards that can be accrued alongside credit card rewards. This combination is helping to undercut traditional coin dealers or precious metals retailers.

The coin offerings have included both gold and silver coins from the US Mint and the Royal Canadian Mint. This move by Costco follows a broader trend that reflects a mainstream acceptance and interest in precious metals as both an investment and long term store of value.

US Mint

The US Mint began minting bullion coins for investors in 1986 after the passage of the Liberty Coin Act. Along with the Gold Bullion Coin Act of 1985, these two laws require the U.S. Mint to produce and sell the American Gold Eagle and the American Silver Eagle in both bullion and proof finishes in sufficient quantities to meet demand from investors and collectors.

The coins are issued as a vehicle to provide consumers with a trusted tangible asset. At the time of the introduction, the economy was in recovery from a recession that was triggered by increases in oil prices by OPEC starting around 1979 and dragged on until 1982. In the first two years of minting, more than 16,835,340 Silver Eagle coins were sold.

US Mint Gold Coins

The most popular gold coins from the U.S. Mint are the American Gold Eagle and the American Gold Buffalo. These coins are significant to investors for their gold content, legal tender status, historical and aesthetic appeal. Both coins are backed by the U.S. government, ensuring their gold content and purity.

They are both highly recognized and traded worldwide, providing liquidity to investors looking for a tangible asset.

2024 1 oz American Buffalo Gold Coin

2024 1 oz American Buffalo Gold Coin

The American Gold Buffalo was first issued in 2006 as the U.S. Mint’s answer to pure gold bullion coins like the Canadian Gold Maple Leaf. It is the first 24-karat gold coin from the U.S. Mint.

It features the classic design of the Indian Head nickel or Buffalo nickel, with an image of a Native American on the obverse and an American buffalo on the reverse, both designed by James Earle Fraser.

The Gold Buffalo is 99.99% gold (24 karats), and has a face value of $50 and is also recognized as U.S. legal tender.

One of the most recent times that the Gold Buffalo was in stock, it was priced at $2099.99. At the time, the gold spot price was trading around $2049, indicating only a $50 markup or roughly 2.5% dealer premium. Normal dealer premiums typically range from around 4% to 10% above the spot gold price. While the Costco price beats out the national bullion dealers, the gold coins have typically sold out within an hour or two as experienced investors pounce on these deals.

Costco Product Page: Item #1799474

2024 1 oz American Gold Eagle Coin

2024 1 oz American Gold Eagle Coin

Introduced in 1986, the American Gold Eagle is available from bullion dealers in four sizes: 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. However, only the 1 oz Gold Eagle is available from Costco, making this offer limited to investors with a larger budget.

The US Mint provides investors with fractional gold coins that allow for investors having more modest budgets to invest in a long-term store of value and wealth. This variety allows investors to choose based on their budget and investment strategy.

Costco offered the 1 oz Gold Eagle in late February with a price of $2,089.99 with each member limited to just two coins. That day, the spot gold price closed at $2,036.00 per ounce, a dealer premium of $53.99 per ounce or slightly higher than 2.5%.

Typical dealer premiums on current year gold eagles range from as low as 3.5% to around 8%. When Costco Gold Eagles are available for purchase, they are typically sold out within an hour or two. The addition of the Membership Rewards for their Executive Members offers an additional 2% cash back that can later be used on future Costco purchases, including precious metals.

Costco Product Page: Item #1804545

US Mint American Eagle Silver Coins

2024 1 oz American Silver Eagle Tube of 20 Coins

The American Silver Eagle is a one-ounce silver bullion coin issued annually by the United States Mint since 1986. A standard mint tube of Silver Eagle coins usually contains 20 coins. Each coin is one troy ounce of .999 fine silver. The coins are packed tightly in a tube to prevent movement and reduce the risk of scratching or damage during shipping.

Tubes of Silver Eagle coins are made available for sale periodically. The availability of Silver Eagle coins from Costco is limited and the pricing is typically similar to other online bullion dealers. It’s important to compare prices of Tubes of Silver Eagle Coins before making a purchase.

Costco Product Page: Item #1789494

2023 1 oz American Silver Eagle Tube of 20 Coins

Costco Product Page: Item #1799373

Royal Canadian Mint

Founded in 1908, the Royal Canadian Mint has established a global reputation for its innovative coin designs, high-quality craftsmanship, and advanced security features

The RCM is a prestigious institution, producing high-quality, pure gold and silver coins, with the Canadian Gold and Silver Maple Leafs being their flagship products. These coins are widely recognized in international markets and are considered to be a highly liquid investment.

Canadian Maple Leaf Silver Coins

2024 1 oz Canadian Maple Leaf Silver Coin Tube of 25 Coins

Maple Leaf silver coins are our Northern neighbors’ equivalent to the Silver Eagle and are suitable as an investment or store of value. The key advantages that Maple Leaf silver coins have over the Silver Eagle are:

  • .9999 Purity – The Silver Maple Leaf boasts a .9999 fine silver purity. While some investors prefer the four-nines purity, the extra nine does not add any extra value in today’s market.
  • Design and Recognition – The 2024 issue carries the King Charles’ profile on the obverse, while the iconic sugar maple leaf design is featured on the reverse. This classic reverse design has been minted annually since 1988 and is recognized and respected worldwide, ensuring the coin’s liquidity and marketability.
  • Anti-Counterfeiting and Security Measures – The Royal Canadian Mint began incorporating advanced security measures into the design of the coins in 2014, providing visual ways for investors to distinguish between fake and genuine coins.

The Maple Leaf coins were in stock on Costco’s website for a few hours recently at the price of $609.99. That puts each coin in a tube of 25 at around 24.40, with the spot price of silver that day closing at $22.08 per ounce. Typical dealer premiums are slightly higher at around $2.50 per coin.

Costco Product Page: Item #1814000

Canadian Maple Leaf 1 oz Gold Coins

The Maple Leaf 1 oz Gold Coin is the flagship bullion investment coin from the Royal Canadian Mint. It has been a mainstay with global investors since 1979. Its .9999 fine gold content makes it one of the purest investment grade gold coins available, which can be important for some investors.

Costco’s first offering of Maple Leaf gold coins including the Queen Elizabeth Memorial obverse design from last year.

A few weeks ago, the current year issue featuring the official portrait of King Charles was made available at the price of $2,219. On the same day gold spot price closed at $2,161.71 per ounce, a premium of $57.29, which is slightly higher than the lowest available price from national bullion dealers. The average premium for the Costco sale had some investors buying, with availability lasting around 17 hours.

Although the 1 oz coin is the standard, the Maple Leaf series is available in various sizes (1 gram, 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz) from a variety of trusted and reputable online bullion dealers, offering flexibility for different investment budgets and strategies.

2024 1 oz Canada Maple Leaf Gold Coin (King Charles Design)

Costco Product Page: Item #1814006

Costco’s expansion into the precious metals market by adding more coins and bars to its lineup demonstrates the company’s response to increased consumer demand for tangible investments as a store of value and wealth. This expansion not only broadens the investment options for Costco members but also signifies the growing trend of retail investment in precious metals.

Moreover, Costco’s foray into precious metals is complemented by its robust online platform and in-store services, ensuring secure and convenient purchases. With this expansion, Costco aims to solidify its position in the precious metals market, among industry veterans like APMEX, JM Bullion, Bullion Exchanges and SD Bullion, offering an accessible path for its members to invest in physical gold, silver, platinum, and palladium.

Precious metals coins are government backed with a guarantee for their purity and weight. They are purposely minted as a long term store of value and wealth that have historically been an effective hedge against inflation and currency devaluation.

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Costco Adds More Coins & Bars to Precious Metals Lineup

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The membership warehouse club Costco, best known for their $1.50 hotdog and soda combo, began offering precious metals last year through their website and available for sale inside some select locations.

The initial product lineup include a variety of 1 oz Gold Bars from PAMP Suisse and RAND Refinery. After initial success, they began offering American Silver Eagles in tubes of 20 coins, which certainly increased awareness and interest.

Costco’s expansion into the precious metals market by adding more coins and bars to its lineup demonstrates an increase in consumer demand for tangible investment assets. This expansion not only broadens the investment options for Costco members but also signifies the growing trend of retail investment in precious metals.

Costco is well-known for its competitive prices and customer-friendly policies and services, both of which contribute to its strong reputation and popularity among consumers. The way that the retailer is able to leverage its membership model to offer competitive pricing on precious metals, potentially undercutting traditional coin dealers or precious metals retailers. With some analysts suggesting this move by Costco reflects broader trends in the retail and investment sectors, indicating a mainstream acceptance and interest in precious metals investment.

2024 Canada 1 oz Gold Maple Leaf in Assay Card from the Royal Canadian Mint

2024 Canada 1 oz Gold Maple Leaf

The 1 oz Maple Leaf is the flagship investment-grade gold bullion coin from the Royal Canadian Mint, the official government mint of Canada.

The Gold Maple Leaf is minted with gold that is refined to a purity level of .9999 millesimal fineness (24 carats). Additionally, the Maple Leaf series includes advanced anti-counterfeiting enhancements into the coin’s design, such as radial lines and micro-engraved laser etchings.

When compared with other investment-grade coins, the premiums for Maple Leaf gold coins are extremely competitive.

Costco is known for keeping product markups low, which helps keep prices competitive and attractive to shoppers. While these coins are only available from Costco during certain times with limited quantities, dealer premiums for 1 oz Gold Maple Leaf coins range from as low as 2% to as high as 8%, depending on the seller.

2024 US 1 oz American Gold Eagle

2024 US 1 oz American Eagle Gold Coin from the US Mint

Following up on the success of the American Silver Eagles, Costco began periodically offering its gold counterpart. The 2024 1 oz American Gold Eagle is the flagship gold investment coin from the US Mint. Introduced in 1986, this coin has been a mainstay for investors for nearly 40 years.

The current obverse of the coin features a famous rendition of Lady Liberty that was originally featured on the St Gauden’s Gold coin.

The reverse of the Gold Eagle was redesigned in 2021 and features the head of a bald eagle in the center.

Around the head of the eagle, inscriptions are included for the United States of America and the notable latin phrase “E Pleribus Unum”, which translates to In God We Trust. Other inscriptions are included for the weight and $50 dollar face value.

While Costco is known for their low prices, they seem to time their offerings when the spot price of gold remains fairly stable. There have been reports on social media where Costco has increased the price of an item during the sales period. When Costco does have a gold or silver offer live on their website, the quantity available remains unknown to buyers. Though on average, the flash sales seem to average between 4 and 6 hours.

The 2024 1 oz Gold Eagle is a standard bullion issue investment coin and are readily available from most online bullion dealers and local coin shops. Premiums from local coin shops can vary greatly, while online premiums are as low as 3.5% to as high as 9% over the spot price of gold.

PAMP Suisse Gold Bars

PAMP Suisse Multigram-25 1 gram gold bars

The PAMP Suisse Lady Fortuna 1 oz gold bars was one of the initial precious metals offerings from Costco. The Lady Fortuna design is one of the most widely recognized gold bar in the world.

Lady Fortuna is the Roman goddess of luck, chance, and fortune, both good and bad. The age-old saying “Luck is blind” could probably be attributed to the story of Fortuna. She is shown blindfolded and holding a cornucopia spilling over with wealth and riches and a wheel of fortune.

PAMP Suisse has been using the design of their premier line of gold bars since the 1980s. Recently, Costco began offering other sizes of PAMP Suisse Gold Bars that include larger sizes, like the 50 gram gold bar, and even fractional 1 gram gold bars.

The PAMP Suisse 1 gram gold bars that are sold by Costco are part of the PAMP Multigram+25 set. The set includes 25 individual 1 gram gold that are each encased in their own mini assay card. The larger assay card is perforated to allow for easy divisibility should you need to gift, trade or sell a portion.

The obverse of each of the bars feature the same beautiful Lady Fortuna design as the larger bars. While the reverse each bar is emblazoned with the PAMP Suisse logo at the top. It also displays each bar’s weight, purity, and serial number.

Costco does not have a precious metals buyback program and their sale comes with special terms and conditions that explicitly state that all sales are final and not returnable.

Some local coin shops may carry some of the PAMP Suisse products, while the Multigram line of products from PAMP often has variable availability amongst online dealers. Premiums for fractional gold bars are generally higher due to the increase in manufacturing costs, with ranges from online dealers ranging from as low as 16% to as high as 30%.

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PAMP Suisse and Activision Collaborate on Gold and Silver Bars to Celebrate 20th Anniversary of Call of Duty Modern Warfare III

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To celebrate the 20th Anniversary of the Call of Duty video game franchise, Activision has partnered with PAMP Suisse to develop a line of limited edition silver and gold bars featuring the imagery from the game.

The obverse shows the outline of a shield with a game character dressed in military fatigues along with the franchise title “Call of Duty” in vertical orientation. The reverse shows a diagonal pattern of Call of Duty Modern Warfare III logo, with the makers hallmark, weight and purity in the center and includes a unique serial number that is also printed on the matching assay card.

Additionally, all of the COD silver and gold bars include a code that is redeemable for a bonus in-game weapon charm.

Further details can be found in the press release from MKS PAMP.

PAMP Suisse

Founded in 1977 and based in Ticino, Switzerland, PAMP is one of the world’s leading bullion brands, known for its high-quality gold, silver, platinum, and palladium products. The company produces a wide range of bullion products, including bars, coins, and ingots, which are popular among investors and collectors alike for their purity, craftsmanship, and innovative designs.

PAMP Suisse gold bars come with an assay certificate, which guarantees the purity, weight, and authenticity of the bar. Each PAMP Suisse gold bar is individually serialized, which aids in authentication and adds to its collectibility. While the intrinsic value of the gold itself is a significant factor in the value, the collectibility of these limited edition bars can add a premium above the spot price of gold.

Call of Duty

“Call of Duty” is an influential and popular first-person shooter video game franchise developed and published by Activision. The series began with the launch of the original “Call of Duty” game on October 29, 2003. The game was initially set in World War II and was praised for its immersive storytelling, realistic gameplay, and engaging multiplayer modes. Over the years, the franchise has expanded to include various settings, including modern times, futuristic worlds, and even space.

“Call of Duty: Modern Warfare” is an update of the original game that features missions that mirror modern military conflicts and tactics. The franchise itself is developed and published by Activision, with various development studios working on different entries, including Infinity Ward, Treyarch, and Sledgehammer Games.

The original “Call of Duty 4: Modern Warfare” launched in November 2007 and was a pivotal game in the series, marking a shift from World War II settings to contemporary battlefields and significantly influencing the first-person shooter genre with its realistic gameplay, narrative depth, and multiplayer modes.

The “Call of Duty” franchise boasts millions of active players across its various titles and has extended its reach beyond video games into a broad array of merchandise and media, including Action figures, LEGO sets, gaming peripherals like branded controllers, headsets, and mouse pads and narrative extensions of the franchise’s storylines, offering deeper dives into its lore and characters.

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Gold bars for every budget

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Gold is the one thing that is universally recognized worldwide as a store of value. Virtually anywhere in the world where you can find a local coin shop or precious metals broker, you can exchange a gold bar for local currency.

Gold bars have become increasingly popular among investors for their affordability, flexibility, and convenience. Investment grade gold bars are manufactured by both private mints as well as government minting operations all over the world. Most are minted with 24k pure gold that refined to a purity of 99.99%.

They are available in a variety of sizes, from as small as a half of a gram, up to as large as a 1 kilogram. While the most common size is the 1 oz gold bar, it’s not always practical or budget friendly to purchase those on a regular basis.

Investing in fractional gold bars allows for more precision in investment size and it makes it easier to sell only a portion at a time compared to larger bars. They are an ideal choice for those looking to start small.

Many investors find that it is more affordable to buy fractional gold bars on a recurring basis as a convenient way to stack gold. Buying a few grams of gold every week or two quickly adds up to a full ounce.

PAMP Suisse is one of the most trusted names in precious metals. In addition to their Lady Fortuna gold bars, some new designs are available. Those include the Arabian Horse 5 Gram Gold Bar, which shows an Arabian stallion galloping across the desert dunes. The background is etched with a circle and triangle motif on a proof like surface. The reverse contains the same etched background along with the pertinent details related to weight and purity.

Stepping up in budget is the Rosa 10 gram gold bar, which features a simple, yet elegant, etch rose design on a smooth, polished background. These limited mintage bars have the PAMP Suisse hallmark stamped on the back with the purity, weight and individual serial number.

As much of the world uses the metric system, dozens of private refineries from all parts of world manufacture gram denominated gold bars. FindBullionPrices.com tracks the prices of products that are available for sale in the United States. While other weights may be available in other markets, in addition to the 1 gram bar, the most common fractional gold bar sizes found here are 20 gram, 10 gram, 5 gram, 2.5 gram and 2 gram.

We track prices of the manufacturers that are most commonly sold throughout the country, both through online dealers and also available in some local coin shops and other bullion retailers. In addition to PAMP, the list private mints that issue gram denominated bars include Valcambi, Emirates, IGR and Argor-Heraeus.

The variety of private and sovereign mints is greater for investors looking for larger gold bars.

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How to Verify a PAMP Suisse Gold Bar? 

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PAMP Suisse has made it easy to verify the authenticity of their products with the Veriscan app that is available for the App Store for iPhones and iPads.

PAMP Suisse Veriscan Instant Authentication Mobile App

The surface of all precious metals have microscopic topographic features that are as unique as human fingerprints. Using the app, you can scan the front surface of the bar, allowing the app to interpret the surface topography of the bar, which is then compared against the data stored in the PAMP VERISCAN database. The app will display an affirmative result for authentic products and issue a failing result for products that it suspects may be counterfeit. 

The PAMP Suisse Veriscan Mobile Application can be used to authenticate gold, silver and platinum bars that are issued by PAMP Suisse, along with bullion coins and bars that are issued by a handful of other established mints that include the Royal Australian Mint, Bank of China, Lombard Bank Malta and UBS.

Larger silver bars and gold bars can be scanned from any of the six sides of the bar.

All PAMP Suisse Veriscan enabled products are issued with a unique QR code, when scanned with the app, allows the lookup of the specific bar’s topographic features that were scanned during the manufacturing process.

After scanning, the Veriscan app will open a corresponding page that contains all of the details of the bar, including its weight, purity, mint mark, and serial number. 

This allows you to compare this information from the mint with the information from the packaging of your PAMP Suisse product. If they match, you have a genuine PAMP Suisse product. Having the application verify PAMP Suisse products allows greater confidence in the authenticity of your gold bar. If they do not match, verify that the you’ve followed the provided instruction to determine if your product is counterfeit.

Instruction for scanning larger size PAMP Suisse Silver Bars and Gold Bars are available in the application’s menu. When scanning larger size bars, the Veriscan application provides options to choose which sides of the product will be scanned. Authenticating larger PAMP gold and silver bars is easy with the enhanced authentication option, which can scan any of the six sides of a gold, silver, or platinum bar. 

The PAMP Suisse Veriscan App can be downloaded from the Apple App Store directly to your iPhone or iPad for easy verification and authentication at home.

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2023 Black Friday Bullion Deals

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Black Friday Bullion Deals from online dealers is an annual tradition where retailers provide significant discounts to kickstart the holiday shopping season. Many of the leading online bullion retailers participate by offering discounts and deals on various precious metals items. This typically include offers for both investors and collectors.

In previous years, APMEX has offered a variety of doorbuster deals, offering discounted premiums, including any quantity pricing along with several spot price deals.

Pre-Black Friday Bullion Deals

The end of year is the perfect time to stack extra precious metals as a way to set aside some funds and be prepared next year and several dealers are already showing price drops for the upcoming Black Friday week sales.

SD Bullion

SD Bullion has begun their pre-Black Friday sale, with a deal for Silver Kilo Bars on sale for as low as 79 cents over spot per ounce in quantity. For individual bars, the premium is around $1.39 per ounce, by far the lowest available premiums for silver kilos.

For gold buyers, SD Bullion has a special offer on Johnson Matthey 1 oz Gold Bars. The premium for the first bar is just $9.99 over spot, with additional bars available at the discounted premium of $29.99.

Bullion Exchanges

Bullion Exchanges is showing prices as low as $0.70 Over Spot per oz on Italpreziosi 100 oz Silver Bars. These bars are also offered at a discounted premium through the Bullion Exchanges eBay store, which includes all credit card and PayPal fees and may be eligible for rewards points, cashback and other offers. They are also offering similar pricing on Germania Mint 100 oz Cast Silver Bars.

Bullion Exchanges has posted offers across all price points. From 5 oz Silver Bars from the Argentia Mint, to discounts on monster boxes and tubes of American Silver Eagle coins.

A variety of gold bars are on sale, ranging from as small as 5 grams to multipacks of 1 gram bars and 1 oz gold bars.

For those looking for lowest premiums should check out the variety of 100 ounce silver options available at Bullion Exchanges. These include lots of twenty 5 oz silver bars, lots of ten 10 oz silver bars, various bundles of 100 oz in silver rounds. If you’re looking to make an even larger investment, Monster Boxes with 500 oz of 1 oz silver rounds are also available.

Check out the Bullion Exchanges Black Friday Deals page for more details.

Monument Metals

Monument Metals has announced a special deal on Nadir Refinery 10 oz Silver Bars. Purchase two 10 oz silver bars and receive the second at spot price! They have created a special page on their website that includes the discounted pricing.

Be sure to check out the Monument Metals Deals page for more Cyber Week offers.

Scottsdale Mint

The Scottsdale Mint has announced a variety of discount offers. Deals are available on Scottsdale Stacker Bars, 1 oz silver rounds, 2 oz silver coins, fractional gold bars and more. Check out the deals page on their website for more information.

Silver At Spot Price Deals

This year, numerous dealers are expected to offer silver at spot deals with limited quantities available.

APMEX

APMEX has announced a variety of offers to start on Black Friday and continue through Cyber Week. These will include several deals at spot price and site-wide “any quantity” pricing, which is typically reserved for bulk quantity orders.

They are offering an addition 10% back in rewards for holders of the APMEX Bullion Card Visa Card.

APMEX is offering Poured Kilo Silver bars at spot price! You can also download the APMEX App from the deals page to get early access to APMEX Black Friday deals.

SD Bullion

The Doc has added additional offers to the early Black Friday Sale. The best deal so far, is the silver at spot price deal on their 10th Anniversary 1 oz Silver Rounds.

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Is the Costco Gold Bar a Good Deal?

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While best known for its large selection of consumer goods and services ranging from groceries to electronics to clothing, travel booking, insurance, and optical, Costco has recently added several 1 oz gold bars to their lineup.

1 oz Gold Bars Rand Refinery

Periodically, warehouse club now periodically offers both Rand Refinery 1 oz Gold Bars and PAMP Suisse 1 oz Gold Bars available for sale on their website.

When the bars are available on the retailer’s website, members must be logged into their account in order to see the pricing. The pricing is based on the spot gold price, plus a traditional retail markup that conforms with their pricing model.

Observations comparing recent sales show against the prevailing gold spot price during the same time have shown that the premium appears to be in the range of 2.3%-3%.

“I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars,” CFO Richard Galanti told investors during a recent quarterly earnings call.

“Yes, but when we load them on the (web)site, they’re typically gone within a few hours and we limit two per member.”

Both of the brands that Costco has made available so far are also readily available from many trusted and reputable online bullion dealers.

In general, gold bars come with lower premiums over the spot price of gold than coins. Meaning, investors can often get more gold for their money when buying bars compared to coins.

1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan

Buying gold bars from Costco may be a convenient option for some investors, but it is important to consider other factors before making a purchase.

Costco sells only a single gold denomination

Both PAMP Suisse and RAND Refinery offer fractional gold bars that are available at a variety of price points, making them more affordable to a larger group of investors looking for a trusted store of value.

The Lady Fortuna line has been PAMP’s signature line for decades and fractional gold bars are available sizes as small as one gram and in industry standard increments of 5 gram, 10 gram, and 20 gram. These fractional gold bars are more accessible and also make an excellent store of value.

Costco does not offer a buyback program for gold bullion. So when it comes time to sell, you will need to find a different gold buyer. Looking through the number of bullion dealers and coin stores in your area is a good way to check how easy it might be to sell locally.

Online bullion dealers update their prices in real-time according to changing market conditions, while Costco prices their gold bars at a fixed price. These bars are sold only on their website for a limited time.

Depending on the timing of your purchase, this could lead to paying a substantially higher premium to Costco for the same 1 oz gold bar than you might from an online bullion dealer.

Costco also has a strict no returns policy for bullion products, which deviates from their normal return policies.

Cheaper Alternatives to Costco Gold Bars

The PAMP Suisse Azure Dragon 1 oz Gold Bars that are offered by Costco are an excellent value for collectors, as these bars are a limited mintage and quickly sell out from online bullion dealers when they are available.

RAND Refinery is a large South African company that produces a variety of gold bars for investors, often at a much lower premium than other mints.

There are many private mints, like RAND, that have longstanding and trusted reputations of delivering pure .9999 fine gold to both industry and investors. These refiners have long standing affiliations with international gold markets like the LBMA, Shanghai Exchange and COMEX.

Some are based here in the United States, such as Sunshine Minting, located in Coere d’Alene, Idaho, which has been operating as a full service private mint since 1979. Sunshine Mint 1 oz Gold Bars incorporate the MintMark SI security feature on the reverse and etched with a unique serial number. This will match the assay card that comes encapsulated with newly minted bars.

Arizona based Scottsdale Minting produces coins on behalf of a variety of governments and issues both gold bars and rounds for investors and collectors under their own hallmark.

Scottsdale Mint 1 oz Gold bars often contain innovative designs that incorporate advanced security features and laser etched features.