How I Bought a 1oz Gold Coin at Costco for $194 Below Spot Price

There have been a growing number of YouTube videos on the subject of Costco gold. It’s no surprise because interest has been growing as we can see in this Google Trends search for “costco gold”. Although searches have pulled back a bit there is still elevated interest.

One TikTok post caused this spike

Many of these videos about Costco's gold prices miss the mark. They don't get what makes Costco unique or why members are so devoted. Today, I'm going to break down the Costco advantage and reveal how I snagged a 1 oz Canadian Gold Maple Leaf coin for $194 below spot price.

Let’s look at the checkout screen of my order… it explains everything.

Let's break down the price. The gold coin is listed at $2,379.99. There's also a $150 "Discount on Order" – I'll explain that shortly. This brings the initial cost to $2,229.99.

Now, here's where the savings come in. Executive Costco members ($120 annual fee) receive a 2% reward on purchases. That's $44.60 back on this coin, mailed as a certificate redeemable at Costco. Additionally, using the Costco Anywhere Visa card gives you another 2% cashback reward ($44.60). These rewards total $89.20.

Remember, many online gold dealers add a 4% surcharge for credit card purchases. Costco does not add a surcharge.

Factoring in the rewards, your final price is $2,140.79. With spot gold at $2,334.90, that puts your purchase at $194.11 below spot price.

Initial price = $2,379.99
Discount = -$150.00
Executive Reward = -$44.60
Visa Card Reward = -$44.60
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Total price = $2,140.79
Spot gold = -$2,334.90
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Premium = -$194.11

Not exactly what those YouTubers are reporting when they say Costco gold is around spot or maybe a little under and so what’s the big deal?

Discount on Order

Now, what is that $150 discount all about?

That same day, Costco launched promotions offering $150 off purchases over $999 in certain categories such as Jewelry. The Canadian Gold Maple coin seems to have been accidentally included. The coin's banner ad only appeared briefly before being removed, suggesting a swift correction of a potential pricing error. Shoppers who acted quickly may have benefited from the discount, but reports indicate it's no longer available.

Treasure Hunt

That (possible) pricing mistake is not likely to happen again. It was a one-off event that only the quick and prepared could catch.

Even without the discount, Costco's gold prices remain competitive. The math still works out to $44.11 below spot price, making it one of the best deals you'll find on gold. These deals happen nearly every day at Costco.com.

I've put together in-stock alerts to help gold buyers get ahead of the pack. It’s called Costco Daily and you can read more about it here.