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Kitco is a reputable platform dedicated to assisting investors in gold, silver, and other precious metals. Beyond facilitating the purchase and sale of these metals, Kitco provides expert guidance on selecting secure storage facilities.
Additionally, investors can benefit from Kitco's support in establishing a gold IRA and managing their portfolios.
If you're considering partnering with Kitco, the following review offers a comprehensive overview of their services and expertise.
Keep reading to discover how Kitco can enhance your investment strategy.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Kitco passed our strict customer service standards to become one of our top recommendations.
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About Kitco
Investors in more than 80 countries trust Kitco to help them buy and sell precious metals. Bart Kitner took out a small loan in 1977 and opened a company that bought and sold scrap metal.
Called Kitco, the company launched its website in 1995 to appeal to more customers. The company would later create an app for investors and become one of the top sites honored by Forbes.
Pricing and Fees
One of the top things about Kitco is that it takes the guesswork out of pricing. An investor simply decides what type of precious metal they want to buy. They can then enter the total amount of weight they plan to purchase and see the current price.
Prices start at around $26 per ounce for silver and rise to more than $8.000 per ounce for rhodium. Kitco updates its prices as market conditions change. Special discounts are available for investors who spend $100,000 or more.
Available Products and Services
Kitco offers a huge selection of precious metals that include both rhodium and gift ideas. Investors will also find products that are exclusive to the site and some special deals.
Gold Bullion
The gold bullion available from Kitco includes both bars and coins. All of the gold bars weigh different amounts, but the gold coins usually weigh one ounce. Many of the coins come already packaged and are suitable for display. Some of the gold coins that Kitco sells include:
Silver Bullion
More investors today purchase silver bullion because the price of silver keeps rising. Silver bars are common because investors can choose the weight that they want. Kitco offers silver bars as small as 10 ounces and as big as 100 ounces.
There are also some unique silver billion pieces available such as the two-ounce Silver Frankenstein Head and Day of the Dead Skulls. Those who prefer silver coins will find many one-ounce coins like the Silver Maple Leaf coin. Some of the unusual silver coins available from Kitco include:
Platinum Bullion
Platinum is another precious metal with rising prices that can add to a portfolio. Two options that investors can buy from Kitco include platinum bars and coins.
Platinum bars come in one-ounce sizes and from different mints and countries. One-ounce platinum Canadian Maple Leaf coins are another option. These coins come directly from the US Mint.
Palladium Bullion
While palladium bullion is not as popular as some of the other precious metals, it has a high value that keeps going up.
It hit an all-time high of more than $1,000 per ounce in recent years. Kitco offers both one-ounce and one-kilogram palladium bars along with one-ounce palladium coins that bare the Canadian Maple Leaf on the front.
Rhodium Bullion
Another option for a gold or precious metals IRA is rhodium bullion. Rhodium has a high price because there is such a low stock on the market, which likely means that the price will only increase in the coming years.
Kitco offers one-ounce rhodium bars with prices starting at around $9,500. Investors who want to purchase 20 ounces or more must contact Kitco as the site cannot guarantee it will have this amount available.
MintFirst Coins
To set the site apart from others that sell similar products, Kitco has a selection of MintFirst coins. These are uncirculated coins that come directly from a specific mint. All of these coins are in near mint or mint condition and were never released to the general public.
Investors can choose tubes that have 10 or more uncirculated coins that come inside a sealed tube. Other sets include up to 500 coins inside a storage box.
Exclusive Kitco Products
Though some sites that sell gold and silver offer unique items, Kitco has a section devoted to its exclusive products that no other site offers. One example is a Bitcoin Round that contains one ounce of silver.
The round comes in both a silver finish and a gold-plated finish. With the 10-ounce silver bar set, customers get a set of four silver bars that each have a card suit on the front. Other exclusive products include:
Coin Sets & Bundles
Kitco is popular with both investors who want to plan for their futures and collectors who love adding to their collections. With the coin sets and bundles, all types of customers will find a few products they like.
The Walking Liberty Kitco Cache Kit includes 150 ounces of silver in the form of different coins and rounds. With the Silver Round Sets, shoppers can choose sets that have up to 250 ounces of silver rounds included.
Supplies & Accessories from Kitco
Kitco also offers coins and supplies for collectors and others who want to store their coins at home. Shoppers can buy books that help them learn more about coin collecting and how much certain coins are worth. With coin capsules, they get a simple plastic case that keeps the coin tucked inside safe.
Kitco offers many other coin accessories, too such as coin capsule display boxes that hold up to 60 coins.
Collectible Coins
In addition to a large range of bullion, Kitco now offers collectible coins for experienced and novice collectors. These coins are often only available in limited numbers and sell out fairly fast. There are also collectible bars like the set that comes with one bar for each of the 12 months in the lunar calendar.
A two-ounce Looney Tunes Wizard of Oz coin features the classic cartoon characters dressed like Oz characters on a coin shaped like the Warner Brothers logo. There are also tons of other fun collectible coins:
Sell to Kitco
While many customers use the site to find precious metals for sale, others use the site to sell precious metals to Kitco. Kitco accepts gold, silver, platinum, rhodium, and palladium products. It also buys gold and silver rounds as well as certain coins like Kennedy Half Dollars made between 1965 and 1970.
To sell products to Kitco, the user needs to visit the selling page and enter information about what they have. Kitco allows them to pick each item they want to sell and share how many ounces they have in total of each.
They must also have a Kitco account, but they can sign up for a new one before they sell. Kitco gives shows what it will pay and allows the user to either agree to the amount or decide against selling.
Those who choose to go forward will need to complete a form and send in their coins. Kitco will have one of its experts go over the shipment to ensure all products are authentic and in good shape. The user will then receive payment for their items.
Kitco Storage
Investors who buy precious metals need to decide how to store their items. While some choose home storage, others store their collections in an off-site storage facility. Kitco offers storage solutions for investors that include some solid benefits:
It only takes a few steps to set up a storage account with Kitco. The customer needs to contact the company and speak to a professional rep. They will answer some questions about how much they own and then get a free quote.
Kitco sends them a storage proposal that includes the price and other details. Once the investor signs and submits the proposal, they can send their precious metals to Kitco for storage.
Blockchain Investing
Kitco is one of the only sites where customers can both buy precious metals and invest in digital currency. With Kitco ValutChain, customers can now buy gold and silver products through the blockchain. They do not need to wait for their orders to arrive or spend a lot of time looking at the condition of coins and other items.
Customers can buy as much as they want and get the peace of mind of knowing that the Royal Canadian Mint holds those items safely. Blockchain investing is easy and only requires a few steps:
Is Kitco a Scam?
With more than 40 years of experience in the precious metal industry, it's not surprising that Kitco picked up some reviews since it opened. Kitco has a high rating at Trustpilot with an average of 4.7 out of 5.
Customers talked about how helpful the workers were and how easily and smoothly Kitco made the buying process. Others loved how quickly Kitco bought gold and other products from them. One negative review did point out that the site was a little confusing to use.
At Sitejabber, Kitco has a poorer rating of just 2 out of 5. One user claimed that it took more than 40 days for Kitco to complete the process of buying his gold, despite claiming it would take just four days. There were also several complaints about the shipping prices.
A former customer stated that the estimate they received when they bought online was wrong and that Kitco charged them much more for shipping. Kitco has a similar rating with the Better Business Bureau.
Our Rating
Pros & Cons of Kitco
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Cons:
Final Thoughts
While Kitco is not a scam, it's also not suitable for everyone. It can take a long time to process orders and may charge quite a bit for shipping. Investors will also find that they need to contact the company to purchase larger amounts.
For most people though, Kitco is a good choice as the site offers blockchain investing, special collectibles, and a range of precious metals.
Remember to read out list of the Top Gold Companies to see if Kitco made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
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At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.