Kitco Metals Review

Thinking about investing in precious metals? Check out Kitco Metals! Since it was started in 1977 in Montreal, Canada, Kitco has become a big name in the precious metals game.

They didn’t just stay in Montreal, though; now they have over 600 people working in offices in places like New York and Hong Kong.

People have been trusting Kitco for their metal needs since 1977 because they always share the latest and most reliable news and prices.

Whether you’re starting out or you know a thing or two about investing, my Kitco review is here to show you everything Kitco offers, see how they stack up against others, and figure out if Kitco is the right choice for boosting your investment plans.

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What is Kitco?

Back in 1977, three people, Bernard Kitner, Saul Nusbaum, and Marvin Steinberg, started a company called Kitco. It’s basically a super important place when it comes to gold, silver, and other precious metals.

They set up the main office in Montreal, Canada, but they also have spots in New York and Hong Kong, which sounds pretty global to me.

I think what makes Kitco stand out is that it was one of the first companies to share information about metal prices and market trends in real time online.

Now, their website, Kitco.com, is a place where millions of people go daily to check out what’s happening in the world of precious metals.

It’s not just a place to buy and sell metals but also a source for news, analysis, and some really smart insights into the market.

Besides selling gold and silver in all sorts of shapes and forms, Kitco Metals seems to be way more than just a shop.

They have a whole team that focuses on bringing the latest news and smart analysis about precious metals, not just to investors but to anyone interested all over the world.

This is pretty awesome because it helps people make informed decisions whether they’re just starting out or have been investing for years.

Something cool about Kitco is how they’ve kept up with technology. They launched their website in 1995, which probably helped them reach more people.

They even have an app now, making it easier for folks like me and you to stay updated and make moves anywhere, anytime. Forbes even gave them a nod, placing them among the top sites for those interested in precious metals.

For over 50 years, Kitco has been the go-to for folks from over 80 countries looking to invest in precious metals.

They’re not just about buying and selling; they’re about providing all the info and tools needed, like the latest gold prices and market trends. This helps people protect their wealth, especially during tough economic times.

I reckon it’s their commitment to keeping everyone informed and equipped with the latest market data and analysis tools that have made them a trusted name in the industry.

Team Behind the Company

Each team member plays a big role in growing the company, coming up with new ideas, and making sure Kitco stays a trusted leader.

Here’s a quick look at the main leaders at Kitco Metals:

Bart Kitner: President and Founder

In the late 1970s, Bart Kitner turned his college project into a real business. Starting with just $700, he bought and sold scrap gold and grew his business into the big name Kitco is today.

In 1995, he made a big move by starting Kitco.com, making it easier for anyone interested in precious metals to get information.

Kitner’s story is all about using smart ideas and hard work to grow from a small start to offices in Montreal, New York, and Hong Kong.

Carmela Tutino: Human Resources Director

Since September 2005, Carmela Tutino has been in charge of finding and taking care of the people who work at Kitco.

She works on making sure everyone is happy and growing in their jobs, bringing over 15 years of experience to the table. Her work helps make Kitco a great place to work.

John Dourekas: Director

John joined Kitco in March 2008 to lead Kitco Media and Institutional Business Development. His job includes managing Kitco’s online stuff and coming up with strategies to make the company better.

With a background in technology and advising companies, he’s really good at finding new ways to stay ahead, especially with things like blockchain.

Nizar Tabet: CFO

Nizar Tabet, who became part of the team in October 2019, knows a lot about money matters, with 20 years of experience.

As Chief Financial Officer, he makes sure Kitco’s money is well taken care of, working with things like financing and making sure the company stays strong and grows.

Daniel Morello: Director

Daniel Morello joined Kitco Metals in June 2023, bringing with him 20 years of experience in making customers happy.

He’s in charge of brand management, which means he finds new ways to make people love Kitco even more through smart marketing and using new tech to connect with customers.

What Does Kitco Do?

Kitco is a well-known company in the precious metals field and offers a variety of services linked to gold, silver, and other valuable metals.

From my understanding, Kitco is not just a marketplace for these precious metals but also provides valuable information and refining services.

Let’s look at what makes Kitco stand out!

1. Precious Metals

I believe Kitco strong dedication to customer service makes them a favorite amongst investors, companies, and large buyers worldwide.

They are known for their wide array of products and services that include selling popular metals like gold, silver, platinum, palladium, and rhodium.

Here are the key offerings from Kitco:

  • Bullion Products: Kitco simplifies the process of buying, storing, and selling precious metals, offering a wide range of bullion bars and coins from top mints around the world. These come in various sizes and weights. Kitco’s products are well-recognized globally, and they also offer direct home delivery and secure storage facilities. They also help with setting up precious metals IRAs, making it easier for those interested in including these metals in their retirement plans.
  • Unique Collectibles: Besides standard bullion, Kitco also has special items ideal for gifting. This includes colorful silver coins, unique silver rounds, and art bars made of pure silver, as well as items crafted from 99.99% pure gold. These items are perfect for those searching for a special and enduring gift.
  • Secure Storage Solutions: I find it impressive that Kitco provides a secure storage solution through their allocated storage program. This means that your metals are stored safely and are always under your name. They offer flexible storage locations including Canada (like the Royal Canadian Mint), Hong Kong, and COMEX-approved facilities in the US, ensuring top-notch safety and flexibility.
  • IRA and RSP Integration: Kitco also makes it possible to integrate precious metals into your IRA/RSP retirement accounts. With their connections with major IRA companies, clients can easily incorporate metals into their portfolios, which I think is a smart move for diversifying retirement savings.
  • VaultChain™ Technology: Kitco has embraced modern digital solutions through VaultChain™, which allows clients to buy and sell physical gold and silver using blockchain for secure and transparent transactions. The metals are stored at the Royal Canadian Mint, providing both security and modern trading ease.

Global Accessibility

Kitco serves a global audience from over 80 countries, supported by its online platforms and physical counter services in Montreal (Head Office), Hong Kong, and New York (Subsidiary).

I believe their extensive reach and multiple platforms make buying and managing precious metals straightforward and convenient.

2. Refining

Kitco Refining is a go-to place for businesses to get the most value from recycled precious metals. They offer great prices, different ways to get paid, easy ways to send your metals with pick-up service right from your place, and they always make sure their customers are happy.

For over 45 years since 1977, Kitco has been working closely with:

  • Jewelers
  • Pawn Shops
  • Antique Dealers
  • Manufacturers
  • Dentists
  • Laboratories

Kitco Refining is all about trustworthy relationships. They have been in the business for a long time and know how to serve a variety of clients well. If you’re looking for a reliable and easy way to recycle precious metals, Kitco is a great choice.

3. Kitco Media

Kitco Media is like a giant library for all things related to gold, other precious metals, cryptocurrencies, and mining.

They offer a bunch of different things under one roof, such as Kitco News, Kitco Crypto, and Kitco Mining, among others.

I think of Kitco as a go-to place for anyone who wants to stay updated on these topics because they cover so much ground and do it well.

What They Offer

  • News: Kitco News is amazing for catching up on big news that impacts markets, including everything from gold prices to what’s happening in the global economy.
  • Mining: If you’re into the mining world, Kitco Mining dives deep into this area, sharing news and insights that can be really valuable for those following this sector closely.
  • Crypto: Since jumping into the crypto game in 2019, Kitco Crypto has been on a roll, sharing all sorts of news and updates on digital currencies and what’s buzzing in that space.

What Kitco Aims to Do

In simple terms, Kitco wants to help people make smart choices with their money by offering:

  • Up-to-the-minute news.
  • Advice and opinions from experts.
  • Interviews with really important people in the business and money world.
  • In-depth looks at big events and conferences.

They’ve got teams in Montreal, along with folks in New York, Hong Kong, and Vancouver, making sure they cover stories from all over.

How Popular is Kitco?

Kitco is kind of a big deal in the world of precious metals and finance. Check out these numbers:

  • They attract 3.5 million+ visitors from over 100 countries every month.
  • Their website gets 116 million+ page views a month.
  • Visitors hang around their site for about 21 minutes on average.
  • Over 5 million people have downloaded their mobile apps.
  • They have a massive social media following, with 1.3 million+ folks hooked to their content.
  • Plus, their YouTube videos get over 6 million views a month.
  • They’re even popular in China through Kitco.cn.

These stats show just how many people rely on Kitco for their finance and precious metals news.

The Kitco YouTube Channel

I love how Kitco’s YouTube channel doesn’t just stick to plain news. They chat with big names like Kevin O’Leary, Robert Kiyosaki, and Mark Cuban, giving us insights we wouldn’t get anywhere else. It’s like having VIP access to the thoughts of some of the smartest people in business and finance.

What Products Does Kitco Offer?

Here’s a look at some of the categories and specific items they offer, all based on my understanding:

Kitco Pool – Metal Accounts

  • Kitco Pool Accounts: These accounts let you own metals like gold, silver, and platinum without physically keeping them. This is a great option if you want to invest in metals but don’t want to handle or store them yourself.

Variety of Precious Metals

Kitco has a diverse collection of precious metal products:

  • Gold Products: Kitco offers many gold items, such as the 2024 1 oz Gold Maple Leaf coins and Gold Eagles in different pack sizes. These are high-quality products perfect for those looking to invest in gold or collectors looking for special items.
  • Silver Products: You can find various silver options like 10 oz Silver JM Bars and 1 oz Silver Kitco Rounds. They even have collector’s pieces like MLB logo coins and 5 oz Silver Rounds, great for gifts or adding something special to a collection.
  • Platinum and Palladium Products: If you’re thinking of adding to your investment portfolio beyond gold and silver, Kitco also has platinum and palladium options. They offer 1 oz Platinum Maple Leaf coins and Palladium bars for investors looking to diversify.
  • Rhodium Products: Rhodium is rarer, and Kitco offers products like the 1 oz Rhodium Baird & Co. Bar for those interested in investing in this unique metal.

Special Collections and Collector Items

  • Bundle Products: If you’re looking to buy in bulk, Kitco has bundled deals like the Silver Starter Bundle or the Silver Royal Canadian Mint Bundle, which offer large amounts of silver at better prices.
  • Collectible Items: For collectors, Kitco has special edition coins like the 1 oz Silver Royal Canadian Air Force Centennial Coin and Zodiac-themed coins, which are beautiful and unique.

Accessories and Learning Resources

  • Accessories: Kitco also sells things like storage capsules for coins and educational books about bullion coins, helping collectors keep their investments safe and learn more about their hobby.

Kitco has an extensive range of products that meet the needs of both metal investors and collectors. Whether you’re looking to bulk up your investment portfolio with gold, silver, platinum, or palladium or hunting for unique collector’s items, Kitco seems to have something for everyone. They also offer useful accessories and resources to help you manage and understand your investments better.

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How to Buy from Kitco

Buying precious metals from Kitco, like gold or silver, is an easy process. Whether you want to have the metal sent to you or kept in an account at Kitco, they have many options for you.

Kitco’s online store is full of different kinds of precious metal products, from coins to bars made by well-known mints such as The United States Mint and The Royal Canadian Mint.

Besides buying something you can hold, Kitco also lets you buy metals that they keep for you in different types of accounts.

5 Steps to Buy From Kitco

  1. Start an Account: First, you need to create an account with Kitco. Go to their website to find out how.
  2. Choose How to Shop: You can shop either online or by calling them:
    Online: Kitco’s online store is always open, all day, every day.
    By Phone: Call them at 1 877 775-4826 or 514 313-9999. They’re there Monday to Thursday, 8:30 a.m. to 10:00 p.m. ET, and Friday, 8:30 a.m. to 5:00 p.m. ET.
  3. Know the Minimum: When buying physical bullion, orders must be at least $2,000 CAD/USD. For other products like Metal Accounts, VaultChain™, or collectibles, there’s no minimum amount.
  4. Lock in Your Price: The price of the metal is fixed when you place your order, and it changes with the market.
  5. Deposit if Necessary: Depending on where you live and how much you’re buying, you might need to make a deposit to confirm your purchase.
    In the US or Canada: No deposit needed for up to $50,000; 15% deposit for $50,000 to $100,000; 25% deposit for more than $100,000.
    Other Countries: No deposit for up to $20,000; the same deposit rules apply for higher amounts.

When trying to lock in your price, you might need to give a Visa or MasterCard credit card number. They’ll let you know if and when it gets charged.

Remember, the price of metals changes all the time, so it’s good to keep track of it. If you have any questions, Kitco’s customer service is there to help you every step of the way.

How to Sell to Kitco

Selling your precious metals to Kitco is a simple process. Here’s a clear guide on how to do it and some extra details about pricing and when you can expect to be paid:

5 Steps for Selling Precious Metals to Kitco

  1. Check What Kitco Buys: They buy items like gold and silver coins, bars, and rounds.
  2. Select Your Product Online: Find your item on Kitco’s website and choose it.
  3. Create a Packing Slip: Click on “Create packing slip” online, then print two copies: one for you and one for the package.
  4. Send Your Package: Mail it to the address given on the packing slip.
  5. For Big Items: If you’re selling large bars or special items, you have to call Kitco first.

More Useful Information

  • Setting a Price: You can lock in the selling price by calling Kitco online when making your packing slip or when Kitco gets your item.
  • Mailing Costs: Kitco helps with mailing in the US and Canada, usually charging $35 for shipping plus $6.50 for every $1,000 insured.
  • Getting Paid: Kitco will pay you within 1-2 days after checking your items. Payment is by check, bank transfer, or credit to your Kitco account.

Make sure to send your package within one day after locking in your price to ensure the agreed price. Kitco also has several places in the northeastern US and Canada where you can drop off your items, though they might charge a drop-off fee.

How Does Kitco’s Storage Program Work?

Storing your precious metals safely is important. Kitco’s Allocated Storage gives you a safe and private way to keep your gold, silver, and platinum.

You can choose to store your metals in different places like Canada, the US, or Hong Kong. Kitco makes it easy and flexible by letting you pick from several highly secure vaults around the world.

Why Choose Kitco for Storage

  • Safe and Secure: Your metals are well-protected and insured and belong only to you.
  • Store Around the World: You can keep your metals in several locations, including Canada, the US, and Hong Kong. This way, your investments are spread out and not all in one place.
  • Easy to Use: You can pick from a wide range of metal products to store. It’s convenient to add more or take some out anytime. You can check what you have 24/7 on your Kitco account and buy or sell easily, getting good deals.

Getting Started is Simple!

  1. Talk to Kitco’s Team: Get in touch to begin with your storage plan.
  2. Get a Free Estimate: Tell them what you need, and they’ll let you know how much it costs without any fee.
  3. Look Over the Storage Plan: Check out what Kitco suggests for storing your metals.
  4. Sign Up for Storage: Agree to the plan and start keeping your metals safe with Kitco.
  5. Add Your Metals: You can start by adding gold (minimum 10 oz), silver (minimum 500 oz), or platinum (minimum 10 oz).

Kitco’s Storage Service is straightforward, offering you peace of mind knowing your precious metals are secure, whatever the location you choose.

Kitco’s Refining Services

Known for its fair and clear prices, Kitco promises to pay you within three days using payment methods that work best for you.

They make sending your metals easy, too, providing pick-up right at your door. Customers can choose their selling price in advance or decide later, and Kitco ensures that the weight and quality of your metals are accurately checked.

If you own a business like a jewelry shop, pawn shop, antique store, manufacturing company, or dental lab and want to sell scrap metals, you can start by opening an account with Kitco.

Just fill out the Kitco Business Account Application Form and send it over. Once your account is set up, you’re ready to sell.

Selling to Kitco is straightforward. You can lock in your selling price over the phone or go online to create a shipping slip without setting a price first.

Kitco helps with shipping too, offering guidance and secure shipping options. Their prices always reflect the latest market rates, ensuring you get a fair deal. Kitco’s process is designed to be quick and trouble-free, providing peace of mind with every transaction.

Education Resources: What Can You Learn?

Bullion Education is crucial for anyone interested in investing in gold, silver, and other precious metals. Nowadays, more people are turning to these metals as a way to protect or grow their money.

It’s important to know the right way to buy and own these metals to meet your financial goals. You’ll learn about the best kinds of gold, silver, and other metals that fit what you’re looking for and discover smart and safe ways to buy and sell them.

Understanding what affects the price and availability of these metals is also key. This includes getting to know the unique features of metals like gold, silver, platinum, palladium, and rhodium, where they come from, and what makes them valuable.

Knowing these details helps investors pick the right metal based on their goals and research. Why spend time learning about bullion?

Making mistakes because of wrong information can be costly, especially for beginners. It’s also hard to know who to trust or where to find reliable information. Making the wrong move can lead to big losses.

Before getting started, it helps to familiarize yourself with the jargon of the trade, how to check if a dealer is trustworthy, how to ship and store metals safely, and how to buy or sell without making costly mistakes. This knowledge helps you navigate the complex world of precious metals investing confidently and safely.

Payments Methods and Fees

When you’re ready to buy something from Kitco Metals, it’s important to know how you can pay and what the rules are.

Payments need to be made within three days after you place your order. If you’re living in the U.S. or Canada and it’s your first time shopping with Kitco, here’s what I think you should know about your payment options:

You can use Cleared Funds on a Kitco Account, often called FOA, and there’s no limit to how much you can spend. You can pay in different currencies like USD, CAD, EURO, and GBP, and there’s no waiting time.

If you want to pay with a credit card or PayPal, you have a limit of $10,000, but it’s easy because there’s no holding period, which means you can move forward quicker.

Bank wires are another great way where there are no limits and no holding time. But for bank checks, drafts, or money orders, the most you can spend is $25,000, and there’s a waiting period of about three business days.

With personal or company checks, you also have a $25,000 limit, and the waiting period is a bit longer, about five business days.

E-checks are cool too, with a $25,000 limit and a three-day wait. Online Bill Pay is super handy because you can spend as much as you want and there’s no waiting time at all.

Remember, euros and pounds are only for bank wires or FOA, and if you’re using Online Bill Pay from a U.S. bank, check how your bank does things so you’re not surprised by a check in the mail.

Kitco accepts other payments too, like personal or business checks up to $25,000. If you’ve bought from them before, they might even let you spend more.

These checks take five days to clear, though. Bank checks have the same deal, but their waiting period is only three days.

Using a credit card is easy, although sometimes they might need to check things extra, which could take about two days. And with PayPal, you’ve got similar rules as credit cards, plus remember you can’t buy Kitco Pool or VaultChain with it.

FOA means you have money sitting in your Kitco account ready to use for buying things, and there’s no cap on it. E-checks are pretty straightforward, with a $25,000 limit, but if there’s not enough money in your account, you could get a small fee.

Keeping these details in mind will help you shop without any confusion or delay. Just stick to the limits and get ready for a little wait sometimes depending on what you choose.

Shipping Policies

I think if you’re buying bullion from Kitco, you should know they have some shipping costs. Where you live affects how much you’ll pay and how quickly you’ll get your package, especially if you’re ordering from inside the USA or Canada, or from another country.

For USA and Canada

  • Regular Shipping: This costs $15 USD/CAD, but if you buy more than $5,000 USD/CAD, they don’t charge you for shipping. Most times, your package will get to you in 2-5 days, but sometimes, if you’re in a remote place or depending on the mail service, it could take up to 10-15 days.
  • Insurance: The cost changes depending on where you live, from 0.65% to a bit more in places like Washington (0.80%) and Texas (0.99%).

If You’re Not in the USA/Canada

  • Regular Shipping starts at $135, and it might take 5-10 days to get to you, but sometimes customs can slow things down.
  • Insurance: They charge $6.50 for every $1,000 worth of metals you buy.

Now, if you’re ordering something really big, like loads of coins or huge gold bars, they’ll send it in a secure truck. The cost for this is different each time because it depends on what and how much you’re ordering.

Kitco always sends their packages needing your signature when they arrive, and they won’t send to just a PO box or a place that’s not where someone lives.

Remember, if you’re getting something sent to another country, there might be extra fees like taxes or duties based on that country’s rules.

Customer Reviews and Ratings for Kitco

I looked at how people feel about Kitco Metals and saw different opinions on various sites.

  • On Sitejabber, Kitco got 2 out of 5 stars from 8 people, which makes me think not everyone was happy.
  • The Better Business Bureau (BBB) also shows a low score of 2.14 out of 5 from 7 reviews, but Kitco still has an A+ rating them, which means they’re seen as pretty trustworthy.
  • On the brighter side, Trustpilot has a lot of reviews, 7,082 in total, and Kitco shines there with 4.8 out of 5 stars.

Lastly, I think Kitco is mostly loved for its customer service. People talk highly of Naomi for being super kind and making shopping easy.

Long-time customers trust Kitco a lot for their good work. But, I also heard about a new buyer who was upset because Kitco didn’t give the sale price they promised.

This person had to buy fewer coins and missed out on a discount. Compared to other places, it seems Kitco could be clearer about their prices and deals.

Pros and Cons of Kitco

While it offers a variety of metals and investment options, it’s important to look at both the good and the not-so-good aspects of working with them.

If you’re thinking about investing in metals, or if you already do and are considering Kitco, this part will help you understand what you can expect—both the benefits and the drawbacks.

Pros:

  • Kitco is great for people who want to invest in rare rhodium.
  • They have many other metals like gold, silver, platinum, and palladium.
  • You can keep your IRA metals in a secure place away from your home.
  • They offer new digital gold and silver options.
  • Their prices are good and fair for what you get.

Cons:

  • A lot of their items are often sold out.
  • It costs a lot to have things shipped from them.
  • Some of their services take too long to finish.

Looking at the above pros and cons will help you make a more informed and confident decision in your investment journey.

Is Kitco a Legitimate Company?

Yes, Kitco is a legitimate company known for dealing with precious metals. It started in 1977 and has a good reputation for its reliable services in buying, selling, and trading metals.

Kitco is famous for offering up-to-date metal prices and detailed market insights, which attracts many investors and metal enthusiasts.

Personally, I find Kitco’s news and metal price charts very helpful for keeping up with market changes. Although it’s always good to do your own research before investing, from my experience, Kitco is a trustworthy source in the precious metals industry.

Frequently Asked Questions

Q1. Is it safe to buy gold from Kitco?

Yes, buying gold from Kitco is generally considered safe. They are a well-established precious metals retailer and have a good reputation for authentic products and secure transactions.

Q2. Is Kitco a US Company?

Kitco is not a US-based company; it was founded and is headquartered in Montreal, Canada.

Q3. How does Kitco make money?

Kitco earns revenue through the sale of precious metals like gold, silver, and platinum. They also make money from services like metal refining, market news, and metal pricing information.

Q4. How long has Kitco been in business?

Kitco has been in business since 1977, making it a longstanding player in the precious metals industry.

Q5. Who are Kitco competitors?

Kitco’s competitors include other precious metals retailers like APMEX, JM Bullion, and BullionVault. These companies also provide similar services in buying and selling gold, silver, and other metals.

Conclusion

In conclusion, I think Kitco Metals is a solid choice for anyone interested in gold and silver. They make it really simple to buy and sell these metals, and they give you all the latest news and prices, which is great for beginners and experts alike.

I like how the website is easy to use and how they really know their stuff when it comes to the market. Even though there are lots of other companies doing the same thing, Kitco keeps up because they’re honest, helpful, and always coming up with new ideas.

If you’re looking to mix up your investments or just want to learn more about gold and silver, I’d say Kitco is a good place to start.

BEST COMPANY
BEST OVERALL
9.8

Goldco Precious Metals

  • Goldco Surpasses $2 Billion in Precious Metals Placements
  • Over 5,000 Five-Star Ratings on BBB, Trustpilot, and ConsumerAffairs
  • Seven-Time Winer on the Inc. 5000 List

 

Disclosure: “The owners of this website may be paid to recommend Goldco or other companies. The content on this website, including any positive reviews of Goldco and other reviews, may not be neutral or independent.”
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