Gold hits record high—what a Costco bar bought last year is worth

With gold prices jumping to a new all-time high Wednesday, you might be wondering how much that gold bar you bought at Costco could be worth today.

As of Wednesday morning, gold traded around $3,549 per ounce, up from about $2,500 a year ago — a roughly 42% increase.

If you bought a Costco gold bar last year, it would likely fetch much more today than you paid. Still, some of those gains will be reduced once you factor in dealer fees and taxes.

Investors tend to seek out gold during times of uncertainty. Gold often gains when interest rates fall, because lower yields make assets that don’t earn interest, like gold, more appealing, according to research by the Federal Reserve Bank of Chicago. Currently, inflation concerns and economic uncertainty are adding to the momentum, say Jon Ulin, a certified financial planner based in Boca Raton, Florida.

«With two wars ongoing, trade tensions, U.S. debt concerns and fears over [Federal Reserve] independence, gold’s traditional ‘fear hedge’ role remains strong,» Ulin says. «It’s beating bonds at providing portfolio safety.»

Here’s how much a 1-ounce Costco gold bar purchased in September 2024 could be worth today, based on its listed purchase price and the spot price at 9 a.m. ET on Wednesday:

• Purchase price (September 2024): $2,679
• Spot price (Sept. 3, 2025): $3,549
• Unrealized gain: $870
• Percentage increase: 32.5%

If you’re thinking of selling your Costco gold bar for a profit, don’t expect to keep the difference between what you paid and the current spot price.

The spot price is more of a benchmark for negotiation, from which you can expect about 5% to 10% less from most dealers, says Ulin.

At brick-and-mortar bullion shops, you may get a better deal. Shops the Wall Street Journal spoke with in New York City in April typically offered 1% to 5% below the spot price. With these shops, you also get the convenience of in-person evaluations and immediate payment.

«Most buyers will likely melt the bar down for resale, so whether it’s still in its original Costco packaging with the certificate doesn’t make a huge difference,» says Ulin. «Unlike luxury watches, where the provenance and paperwork can significantly increase the value, gold bars are more about weight and purity.»

Avoid selling through eBay or Facebook Marketplace, where scams and lowball offers are common, says Ulin.

The Internal Revenue Service classifies physical gold — including Costco bars, coins and jewelry — as a collectible, says Troy Lewis, a certified public accountant and professor of accounting and tax at Brigham Young University.

If you sell within a year of buying, any profit will be taxed as ordinary income with no cap on the rate. If you hold for more than a year, the gain is treated as a long-term capital gain — but unlike stocks or real estate, which have preferential rates that max out at 20%, collectibles are taxed at ordinary income rates, capped at up to 28% depending on your income bracket.

Beyond federal taxes, sellers may also face state income taxes, which can vary widely. Unlike the federal government, most states don’t distinguish between collectibles and other capital gains — they simply tax income. Some states, like Florida or Texas, have no income tax at all, while others — such as California and New York — impose double-digit rates high enough to «curl your toes,» says Lewis.

High earners may also owe the 3.8% net investment income tax, which applies when modified adjusted gross income exceeds $200,000 for single filers or $250,000 for married couples filing jointly, per the IRS.

Altogether, the combined tax bite can meaningfully shrink the real return on gold. Still, Lewis says taxes shouldn’t be the sole factor in deciding whether to sell. The tax bill is unavoidable — the question is whether you’d rather lock in gains now or keep holding and see where prices go, he says.

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