Costco Selling Out Of 1 Oz Gold Bars After Menendez Raid Uncovers $100K Worth

  • Big box retailer Costco says it’s selling out of its one-ounce gold bars online, after a federal indictment on New Jersey Democrat Sen. Bob Mendendez and his wife on bribery charges made public a few days ago showed agents in a raid recovered $100,000 worth at their home.
  • Costco’s Chief Financial Officer Richard Galanti said Tuesday, the one-ounce bars, sold for about $1,900 each are “typically gone within a few hours” and that the company limits the sale two per member.
  • The gold bars show as part of the indictment appear to be one-kilo bars, worth about $62,000 each.
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