Costco reportedly sells more than $100 million worth of gold every month

Families looking to buy huge packs of toilet paper and dirt-cheap hot dogs at Costco can now act like old-fashioned gold diggers because the retailer has spare gold flying off their digital shelves… to the tune of potentially hundreds of millions.

The store known for selling everything in bulk is getting in on the precious metals game these days… selling 1oz 24k gold bars in their stores for around $2,400 each. This has been going on for about six months now, and right now… it’s apparently making money.

Analysts at Wells Fargo reportedly told their clients earlier this week that Costco could bring in between $100 million and $200 million in gold sales each month. Wowza!

For those people thinking about buying up Costco’s entire gold supply, take a deep breath… because the warehouse giant has rules about purchasing the gold.

It limits customers to just 5 gold bars per membership. Of course, these things sell like hotcakes… and are snapped up on their website within hours as soon as they’re back in stock.

Funny enough, CNBC‘s also reports that the company isn’t making a huge profit on the gold… with cashback offers and shipping charges ruthlessly cutting into the bottom line. In other words, the great deals Costco offers make gold bars a bargain…if you can get them.

That said, the company has bought up a Fort Knox level of gold anyway… and could save it for a rainy day. Some economists suggest that selling gold is a smart business move – as more and more investors seem to be focusing on assets like gold, etc.