Who would have thought your next big credit card welcome bonus could start with a trip to Costco?
Buying and reselling gold from Costco has become an interesting strategy for points and miles enthusiasts because a single purchase can represent several thousand dollars of credit card spend. Done carefully, that can help knock out a large minimum-spending requirement, generate everyday credit card rewards, earn Costco Executive rewards, and—depending on the spread between your purchase and resale prices—potentially leave you with a little profit along the way.
But this is not free money, and the numbers matter.
Gold prices move. Selling platforms charge fees. The price someone is willing to pay for your gold may be lower than what Costco is charging. And tying up thousands of dollars just to earn points only makes sense if you have the cash available to pay your credit card bill in full.
With those warnings out of the way, let’s walk through how the Costco gold strategy actually works.
The Costco Gold Strategy in 30 Seconds
The basic idea is pretty simple:
- Find gold at Costco at a competitive price.
- Compare Costco’s price to what you could receive by reselling it.
- Factor in Costco rewards, credit card rewards, selling fees and any other costs.
- If the math makes sense, buy the gold with the right rewards credit card.
- Sell it through a marketplace such as Pure.
- Package it carefully, ship it according to Pure’s instructions and receive your payout.
- Walk away with the credit card spend, points or miles—and hopefully little to no net cost.
The opportunity isn’t necessarily about making a fortune trading gold. For points and miles enthusiasts, the bigger value can be converting a very large purchase into rewards while recovering most or all of the cash shortly afterward.
Important Pure Referral Update
Pure has changed how its referral program works, and you no longer need to copy and paste the old long string of characters during signup.
Instead, simply create your account through thePointsPage referral link:
Create Your Pure Account Through thePointsPage
The link takes care of attaching thePointsPage referral to your signup.
Pure has most recently described its referral structure as providing eligible new users with a $25 credit that can be applied to an eligible buy or sell order, subject to minimum-order requirements, expiration rules and other referral terms.
The important part for new thePointsPage users is that the process is now much easier:
- Click the referral link above.
- Create your Pure account.
- Confirm that the referral is attached during signup.
- Review the current terms before counting a referral credit in your transaction math.
I recommend setting up your Pure account before you find a Costco deal you want to buy. When Costco pricing and Pure bids suddenly line up, you don’t want account creation standing between you and a time-sensitive transaction.
A Golden History: Costco's Foray into Bullion
Costco, the land of oversized everything, surprised many when it quietly started selling 24-karat gold bars online in June 2023. What began as a somewhat niche offering quickly exploded in popularity, with sales reportedly reaching upwards of $100-$200 million per month by April 2024. They later expanded their precious metals offerings to include silver coins and even platinum bars.
For a points and miles enthusiast, there are three reasons this gets interesting.
1. Gold Makes Large Minimum-Spending Requirements Much Easier
A 1-ounce gold bar costs several thousand dollars.
That means one or two gold purchases can put a serious dent in a credit card welcome bonus that might otherwise require $10,000, $20,000, $30,000 or more of spending.
Instead of finding unnecessary things to buy, you’re purchasing an asset that can potentially be converted back into cash shortly afterward.
That doesn’t eliminate risk—but it makes gold very different from simply spending thousands of dollars on things you don’t need.
2. You Still Earn Credit Card Rewards
When you’re not working toward a welcome bonus, using a strong everyday-spending card can add another percentage point—or several points per dollar—of value to the transaction.
On a purchase this large, small differences matter.
A 1% difference on $4,000 is $40.
Make several transactions and those percentages begin to add up quickly.
3. Costco Executive Rewards Can Improve the Math
Costco Executive Members currently earn an annual 2% Reward on qualified Costco purchases, up to the program’s annual limit.
That 2% can be a major part of the Costco gold equation.
For example, if the spread between Costco’s purchase price and your expected resale proceeds would otherwise leave you 1% underwater, a qualifying 2% Executive reward could potentially move the overall transaction into positive territory before even considering your credit card rewards.
Always verify that your specific purchase qualifies and remember that Costco’s reward terms and exclusions apply.
Choosing the Right Credit Card for Costco Gold
Your payment method can completely change the outcome of a gold transaction.
If you’re buying in a U.S. Costco warehouse Costco accepts Visa credit cards, but buying online through Costco.com means you can add Mastercard options to the mix. Lastly, if you really want to get creative you can buy Costco Cash Cards in-store to load to your account, and you can buy them using VGC’s or MCGC’s.
Why is that important? Because every couple of weeks you get you purchase fee-free GC’s from your local Staples using whatever kind of card you want (read: Amex). This provides a decent enough route to hit minimum spends or purchase bonuses on Amex cards for, ultimately, Costco purchases.
Here are several cards or strategies I like for high-dollar Costco spending.
U.S. Bank Altitude Reserve
The Altitude Reserve is no longer available to new applicants, but existing cardholders may still find it extremely useful for eligible mobile-wallet purchases up to the new monthly purchase limit for the 3x earn rate.
If you’ve held onto one, Costco can be one of the places where its mobile-wallet earning structure becomes especially interesting on a large purchase.
Chase Sapphire Reserve for Business
High minimum-spending requirements become considerably less intimidating when your purchases are several thousand dollars each.
At the time of this update, Chase is advertising a 200,000-point welcome bonus after $30,000 in purchases during the first six months on the Sapphire Reserve for Business. Offers can change, so always verify the current application terms.
If you want to support thePointsPage when applying, head on over to our Referrals page and find a blogger to support with their links.
Bank of America Premium Rewards
This one becomes particularly interesting for people with substantial Bank of America or Merrill assets who qualify for an elevated Preferred Rewards tier.
If you already qualify for Platinum Honors or another enhanced earning tier, a large non-category purchase can generate a very competitive effective return, although this is going away pretty soon here depending on when you last qualified for your status.
Capital One Venture or Venture X
Both cards are straightforward choices when you’re looking for a strong return without needing Costco to code as a special bonus category.
Capital One currently advertises unlimited 2X miles on purchases with Venture and Venture X.
Support thePointsPage and other local bloggers by using a referral link to apply for this one, too.
Capital One Venture X Business
The business version can be particularly useful when you’re working toward a large minimum-spending requirement.
Gold reselling gives someone with enough available cash and credit a way to tackle those unusually high spending thresholds without inventing tens of thousands of dollars in ordinary expenses.
Find a referral link to apply with using our referral source network.
Citi Double Cash
When you’re between welcome bonuses, simplicity can win.
Citi Double Cash currently earns an effective 2% cash back—1% when you make a purchase and another 1% as you pay for it—with rewards earned as ThankYou Points.
That can make it a useful option for high-dollar purchases when you aren’t chasing a new-card bonus.
Important: Credit card welcome bonuses, earning structures and application offers change frequently. Always check the current offer and card terms before applying or making a purchase.
Have another card that’s crushing it for Costco gold? Share your data points in the thePointsPage Gold Reselling Superthread in our Facebook Community.
The Math Matters More Than the Gold
This strategy only works when you understand the entire transaction, not just Costco’s price.
Before buying, think of your numbers roughly like this:
Expected resale proceeds
+ Costco Executive reward
+ credit card rewards
+ value of any welcome bonus progress
− Costco purchase price
− Pure selling fees
− other applicable transaction costs
= your approximate net result
That calculation should happen before you buy the gold, not after.
Watch the Buy/Sell Spread
The “spot price” of gold isn’t necessarily what Costco will charge you or what a buyer will pay you.
Physical gold trades with premiums and spreads.
Costco might be selling a particular bar above spot while buyers are simultaneously bidding below Costco’s price. Even if gold itself hasn’t moved, that difference can cost you money.
Gold Prices Move
Your resale value can also change between the time you buy and the time you sell.
Sometimes that movement works in your favor.
Sometimes it doesn’t.
If you’re doing this primarily for points and miles, I wouldn’t build the strategy around hoping the price of gold rises. Treat favorable market movement as a bonus rather than the business model.
Don't Carry Credit Card Debt to Do This
This is the big one.
If you’re paying 20%+ credit card interest while trying to earn a few percentage points in rewards, the strategy falls apart very quickly.
Only consider transactions you can comfortably pay off in full.
Reselling Your Costco Gold Through Pure
This is the part of the process I don’t recommend rushing.
You’re mailing thousands—or potentially tens of thousands—of dollars of precious metals. A few extra minutes spent packing correctly is worth it.
Pure’s current shipping instructions use a box-inside-a-box system. The gold and required packing slip go into a secure inner box, and that inner box is then placed inside a larger outer shipping box. Items should be protected so they cannot slide around or become damaged during transit.
My Packing Process
1. Get everything together before you start.
Have your gold, packing slip, shipping labels, boxes, tape and packing material in one place.
I also like to record the packing process for my own records. This isn’t a substitute for Pure’s shipping requirements, insurance terms or your FedEx receipt, but having a record of exactly what went into the box can provide useful documentation.
2. Secure the gold inside the inner box.
Keep bars protected in their original assay packaging whenever applicable.
Pure recommends making sure nothing can slide around inside the inner package. Bars or certified coins can be protected inside an appropriate plastic bag or foam case, while bullion coins should be protected from scratching during transit.
Include the required Pure packing slip in the inner box.
3. Seal and label the inner box.
Tape the inner box securely and follow Pure’s current instructions for the inner-box label.
4. Put the sealed inner box inside a larger outer box.
The inner package shouldn’t be squeezed into a box that’s too small. Use enough packing material around it that the inner box isn’t bouncing around during transit.
5. Tape the outer box aggressively.
Pure currently instructs sellers to secure the outer box using an H-seam on both sides and tape the corners so the package is properly sealed.
This isn’t where I try to save 30 cents on tape.
Packing Supplies I Keep Around
Amazon affiliate disclosure: As an Amazon Associate I earn from qualifying purchases. The links below are affiliate links, meaning thePointsPage may earn a commission if you make a qualifying purchase.
- Filament Packing Tape – Useful for reinforcing a high-value shipment and securely sealing the inner and outer packaging.
- Tape Dispenser – Makes it much easier to properly tape every seam without fighting with the roll the entire time.
- Versatile Phone Holder for Recording – I like recording the packing process for my own documentation, and a hands-free phone mount makes it much easier to capture the entire process while still having both hands available to package the shipment.
These aren’t substitutes for following Pure’s actual packing instructions. They’re simply the supplies I like having available to make that process easier.
6. Use Pure’s Shipping Label
Don’t substitute your own shipping label.
Pure states that the label supplied with the order covers the shipment under its process, so follow its current instructions and use the provided label.
7. Take the Package to the Correct FedEx Location and Get a Receipt
This step matters.
Pure’s current instructions tell sellers to use a FedEx-branded location rather than leaving these shipments at third-party counters such as grocery stores, Walgreens or independent pack-and-ship locations.
Get a physical drop-off receipt and keep it.
Pure also recommends avoiding weekend shipping and paying attention to the FedEx Express cutoff so your package isn’t unnecessarily sitting at a location.
For a shipment worth thousands of dollars, follow Pure’s latest instructions exactly rather than relying solely on this summary.
Create Your Pure Account Before You Need It
If you’re thinking about trying the Costco gold strategy, I recommend opening your Pure account before you ever make your first purchase.
That way, when you find a good Costco price, you can log into Pure, check the actual bid for that product and calculate your expected resale proceeds before putting thousands of dollars on your credit card.
Use thePointsPage’s current referral link here:
👉 Create Your Pure Account Through thePointsPage
No old referral code is required.
The referral link now handles the referral connection automatically. Make sure the referral is reflected during account creation and review Pure’s current referral terms for any credit, minimum transaction requirement or expiration date before relying on it in your calculations.
Following these simple steps will ensure you receive your bonus, and will get you well on your way to hitting as many credit card sign up bonuses as you can handle!
Your Costco Gold Reselling Cheat Sheet
If the entire process still feels complicated, here’s the simple version:
- Have a Costco Executive Membership if the additional reward makes sense for you.
- Create your Pure account through thePointsPage referral link.
- Find the exact gold product you’re considering at Costco.
- Check Pure’s current bid for that same product before buying.
- Calculate your expected spread, fees, Costco rewards and credit card rewards.
- Decide whether you’re buying primarily to meet a welcome bonus, earn everyday rewards or because the transaction itself is profitable.
- Use a Visa for U.S. Costco warehouse purchases; Costco.com also accepts Mastercard. Use Costco Cash cards if you want to get creative with Amex use.
- Buy the gold only if you’re comfortable with the numbers and can pay your credit card bill in full.
- Sell the gold through Pure when the resale economics make sense.
- Follow Pure’s current packing instructions, use its shipping label and obtain your FedEx receipt.
- Get paid.
- Enjoy the points and miles.
Getting to the Point(s)
Buying and reselling Costco gold isn’t going to be the right strategy for everyone.
You’re dealing with thousands of dollars at a time, a commodity whose price changes constantly and a resale transaction where even a small percentage difference can mean hundreds of dollars.
But for someone who understands the risks, has the cash flow to handle the purchases responsibly and knows how to calculate the entire transaction before buying, Costco gold can be an extremely powerful tool.
The goal isn’t necessarily to become a gold trader.
The goal is to recognize that a $4,000-ish asset purchase can potentially become $4,000-ish of credit card spend, earn Costco rewards, generate points or miles, help unlock a massive welcome bonus, and then be converted back into cash.
When the numbers line up, that’s where things get interesting.
Have questions, want to compare a Costco price with a current Pure bid, or have your own gold-reselling data point?
Join us in the thePointsPage Gold Reselling Superthread in our Facebook Community and post it up.
