Costco's monthly sales of its gold bars and silver coins could total $200 million, Wells Fargo estimated.
The gold bars — which sell out very quickly — go for about 2% over the spot price.
AdvertisementCostco could be selling up to $200 million worth of its one-ounce gold bars and 25-pack silver coins every month, according to estimates from Wells Fargo.
The gold bars are limited to five per Costco membership, while the coins are limited to five cases.
Kelly, however, noted that the sales of gold bars and silver coins would likely be bringing "minimal profit" for Costco.
Persons:
Edward Kelly, —, Costco's, Richard Galanti, Kelly, Costco doesn't
Organizations:
Costco, Service, UPS, CNBC, Costco Citi
Locations:
Wells, Wells Fargo