Costco says its 1-ounce gold bars are real, have been selling out in hours

(YAHOO FINANCE) – Costco has been selling one-ounce gold bars that it says get snapped up in hours.

“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 Tuesday at the retailer’s fourth-quarter earnings call. “Yes, but when we load them on the site, they’re typically gone within a few hours and we limit two per member.”

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Costco’s website shows that the company sells one-ounce bars of 24-karat gold from South Africa’s Rand Refinery for $1,949.99 and from Swiss supplier PAMP Suisse for $1,979.99. Both products have been given average 4.9-star ratings on Costco’s website.