Kitco
Kitco Metals Inc. is a retailer of precious metals and offers refining services. Kitco operates from its offices in Montreal, New York, Hong Kong and Shanghai, and buys and selsl a wide range of gold and silver products. Kitco also provides custodial storage programs to individual customers and corporations the world over.
Kitco
Kitco Metals Inc. is a retailer of precious metals and offers refining services. Kitco operates from its offices in Montreal, New York, Hong Kong and Shanghai, and buys and selsl a wide range of gold and silver products. Kitco also provides custodial storage programs to individual customers and corporations the world over.
Customer Reviews16
Comparison shopped Kitco and four other online companies for selling bullion. Decided to go with Kitco because they offered an option to wait until bullion was processed to set price. Kitco didn't process within the time they told me and, other than an update email that they'd received the package, didn't contact me with any further updates. I had to repeatedly contact them to find out what was going on. Then they conveniently chose a processing date to settle the transaction when gold was at its lowest price in nearly two weeks. And, of course, from that they removed about $50 from spot. Had that been communicated to me at the outset, I'd have chosen another company to sell to that paid closer to spot. Not only was my experience with Kitco negative enough that my family won't do business with them again in the future, but this experience has also encouraged us to get out of gold bullion as soon as possible and instead into assets we can manage the trades of ourselves 24 hours a day. Too many gold dealers, even the so-called reputable ones in the business for years, have become far too greedy with their spreads. There are better inflation hedges available now. We'll definitely be using other companies, not Kitco, to sell the rest of our bullion.
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I had monies invested in metals w/ Kitco for almost exactly a decade. After making my initial purchases (and leaving them in the care of Kitco), I had almost nothing to do with Kitco for the remainder of that decade. When, however, I went to convert the metals back into currency and have the resultant check sent to me, it was a MOST unpleasant experience. For starters, the Customer Service Rep (CSR) with whom I was speaking became noticeably unhappy about me closing out my account. He also steered me towards receiving my check via regular mail, which I agreed to. But I had no idea that it would take almost a MONTH to receive that check. I kept looking for that check, and it didn't show up for three weeks and a day!! After two weeks of waiting, I called Kitco and asked where my check was? I was advised by THAT CSR that their "policy" is that they have 21 business days to get you your check. I made it clear to them that I had placed an order for vitamins only a couple of days prior from up in North Dakota, and had received that order within 4 days of placing it (throught the post office). So I KNEW that the postal system wasn't the reason for the delay in my receipt of the Kitco check, and made it clear to them that I thought they didn't have any right to simply hold onto MY money for weeks on end. THIS CSR was unhappy to hear THAT piece of information. I"m sorry, but these KItco CSRs are living in some alternate reality if first, they don't expect anyone to ever close out an account with Kitco (AND get noticeably bent out of shape when someone does close out an account with them); and second, also think that it should be A-OK with Kitco's cusotmers for Kitco to hold onto money that belongs to their customers (and NOT to Kitco) for weeks at a time. Unbelievable. AND... to be clear... I was looking forward to (finally) receiving the check, so I could check the envelop in which it came, and see how long they waited before they actually mailed out my check to me. Well... Kitco - a company that I had THOUGHT was so above-board and trusted so much - pulled a fast one regarding this matter, also, 'cuz (if you can believe it) Kitco has figured out a way to mail out your check to you WITH NO DATE of MAILING ON THE ENVELOP. I wonder how much time someone at KItco spent figuring out how to circumvent the usual (and what for me, up 'til now had been the UNIVERSAL) mailing procedure of dating the envelop with the date that envelop had been mailed out? Way to go Kitco!! Where do you think business practices like this are going to get you? You have certainly lost my business forever because of the garbage that you all put me through on this closing of my account.
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Wired money name on the passport matching account name and bank account name , kitco disabled my account two weeks after than start asking all sort of questions, I provide everything they ask no problem... then Kitco takes4 days to tell me they are closing my account and canceling all my transactions with out any reason as they claim that is how they fell... and that I will get my money that they kept for 5-6 weeks and making interest...
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I paid with my debit card and they canceled the transaction for no reason after 5 days later. 2 days later they charged without my authorization $50 in my debit card. I opened claimed (un-authorized charged) with my bank and they blocked my account for $50. What a great big company getting nasty for $50- What a great customer service.
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Kitco is either crooked or incompetent. Either way it should be avoided. I ordered silver in March and paid in March. Products still haven’t been delivered. I been given the run around by Kitco, including outright lies, telling me I could pick up the package at Fed X ( I went there in person and no package). Silver has gone up since I placed my order, so Kitco has less of an incentive to see that I get what I ordered and paid for. Total sleazebags who could care less about their customers. If you’ve had a similar experience, complain to the FTC and other regulatory authorities do companies like this are held accountable.
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After scouring locally and online for a low-fee service to buy my two $50 maple leafs, I discovered Kitco, which offered a mere $20 fee per coin, as opposed to the $50-$200 I was quoted, elsewhere. After a few e-mails between me and Kitco - - all of which were responded to within hours or the very next business day - - I was assured that the process wouldn't cost a cent more, and that I would get a check (there are other ways to receive funds) within 10 business days. After spending just over $20 on registered/insured mail (don't bother with the USPS "e-mail delivery notice" option; the registered tracking number gives you free tracking, and tells you when it was delivered (save the $2.00!), I was able to track the well-protected, plain, envelope (postmarked at the post office), through the next 8 business days, through which it travelled, which was oddly long, considering that the address was a post office just 30 miles away, but, the PO clerk warned me that the "chain of custody" is meticulous and slow, so, I took it in stride. Two business days, later, I rec'd an e-mail from Kitco saying they rec'd it, and that the check would be sent within 24 hours, and that I would receive it within 10 business days. Four days later, it was in my hands (it was sent from an out-of-state address, but, written on an in-state bank; go figure!), and was exactly what I expected, with no additional fees or any taxes, etc. I strongly recommend them to anyone thinking of selling their gold bullion: Avoid the angst of paying WAY too much at jeweler's, pawn shops, metal recyclers, etc!
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I order from kitco all the time! Yes, I pay by check and it takes weeks to process, but once payment clears it gets herein 3 days(Hawaii). I’ve purchased 80% my coins through their service and one time I had a problem with one of the gold eagles they sent. It had a deep gash near the edge, but on the coin face... and they accepted the return on their dime. Other than that, they will call me and try to persuade me to pay by bank wire transfer, but I refuse even though they offer to pay the $15 fee
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The reps are helpful and the prices are good, even after freight cost is added at the end. They have some pretty cool items that i haven't seen anywhere else too, so that's a plus. Delivery came by UPS 3 days after I sent in the funds. I did have to send a wire though, which the bank charged me $15 for. The amount was minimal compared to how much i was buying, so i didn't mind. Checks take awhile to clear with them and i didn't want to wait to get my stuff.
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1)Very high prices than average market or banks 1 Oz Gold was around 1660 – 1720 CAD, at Kitco was around 1880 CAD Why should you buy from them in the first place? 2) Take care of their website as it’s tricky Don’t follow or click the links of Shop now or Buy now As it will lead you sometimes to sell instead of buying and in order to cancel this sales order You have to buy cancellation fees, with their zero tolerance policy There nothing called “It was my first time” or “your website lead me to sell than buying” You will have to pay the cancellation fees anyway I hope that my 50$ will help Kitco to be a good place
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I purchased a 2015 Canada 1 oz Gold Maple Leaf BU from Kitco. I have never received such a badly scuffed coin from any dealer that was supposed to be brilliant uncirculated. Never again.
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