Costco Customer Nets $600 Profit From Flipping Gold Bar
Costco might be your go-to for bulk snacks and flat-screen deals, but for one savvy shopper, it turned into a goldmine.
Finance influencer Humphrey Yang recently shocked his audience online after revealing he flipped a small gold bar he bought from Costco for a nearly $600 profit.
In a TikTok video that’s racked up over 6.5 million views, Yang explained how he purchased a one-ounce PAMP Suisse gold ingot from the warehouse giant for $2,359 in April 2024.
@humphreytalks Selling my Costco Gold Bar… here’s how it went ????
♬ original sound - Humphrey Yang
Fast forward 11 months, Yang sold that same Suisse gold bar to San Francisco-based bullion dealer Witter Coin for $2,955.42, pocketing a profit of $595.43. “Surprisingly easy,” Yang said after walking out with a bulk of cash.
Considering that gold was trading around $3,020 per ounce at the time, Yang felt the payout was fair. Dealers typically buy slightly below market value, and Yang happily took the deal.
However, not everyone thought it was time to cash out. Some Tiktok viewers suggested Yang got ahead of himself and online critics believed there was room to gain more.“Gold price is probably gonna end up at $8K,” one said. While another added, “Wrong time to sell.”
Turns out, they weren't wrong. Since Yang’s sale, gold has spiked to a record $3,300 per ounce, with Goldman Sachs even raising its year-end forecast to $3,700, as reported by Yahoo Finance. Analysts credit the rally to investor fears over renewed tariffs under President Trump, which some worry could trigger a broader economic downturn.
In fact, earlier this year, the market jitters were so intense that major banks reportedly shipped gold bars from London to New York on commercial airlines. So next time you're making a Costco run, aside from bulk savings, take a second look at the gold section. It might be worth the investment.