The membership-only retail giant Costco (NASDAQ: COST) introduced a series of somewhat unexpected, yet profoundly popular items in late 2023: gold and silver bars.

Looking at gold bars alone, the company has been selling an estimated $200 million worth of the precious metal every month throughout 2025, and its silver lineup regularly sells out.

Considering the popularity of Costco and the fact that its markup is, on average, no worse than that of other commodity sellers, coming in at approximately 2%, it is hardly surprising that the retail chain has been able to move such a staggering volume of precious metals.

Yet, between the markup and silver’s staggering rally in the last 12 months, one is left with a question of just how much a customer would have made had they purchased a bar of the argent metal one year ago, late in January 2025.

Costo silver bar bought in January 2025 is now worth this much

Exactly one year ago – on January 29, 2025 – spot silver prices were hovering at approximately $31, while, at press time on the same day in 2026, they were at a remarkable high of $119.

Assuming a stable, 2% markup, a Costco customer would have paid approximately $31.60 for silver worth $119 in early 2026, meaning they would have made $87.40 in profits for each ounce they bought.

Even more impressively, a purchase made exactly at the spot price one year ago would have yielded only a 60-cent higher $88 in profits within 365 days. 

Furthermore, even a January 29, 2025, purchase made at the higher end of the premiums – such as the nearly 30% seen in the Shanghai market in early 2026 – would have led to $79 in profits thanks to silver’s 283% upsurge.

Is Costco Silver or COST stock a better investment?

Interestingly, Costco’s silver or gold would have been a substantially better investment than COST stock in the last 12 months. Unlike the large profits that would have come from the two commodities, the retail giant’s equity would have yielded 0.62% in losses. 

The silver lining for Costco stock investors would have, therefore, come from the dividends. Specifically, unlike between 2024 and 2025 when the yield fell by almost 75%, the value remained stable by 2026, and each COST share owned will lead to a $1.30 payment on February 13.

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