Kitco Review

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Kitco is a company based in Canada that sells and buys precious metals including palladium, platinum, silver, and gold. It also provides storage solutions and a range of other useful services to clients across the globe.

Founded in 1977 in Montreal by three people, Kitco has expanded rapidly over the years and now has three offices. One is based in Montreal, one in Hong Kong, and one in New York. Today the company has a staff team of over 600.

Kitco has offered analysis, news, and prices on different metals such as silver, gold, palladium, and platinum since 1967. The primary service that this company provides is selling and buying precious metals. Kitco buys precious metal rounds, coins, and bars.

They also purchase scrap metals which are then refined further into "raw bullion".

Most of the business that Kitco conducts is online, yet customers are also free to visit the company's retail store. Kitco sells bullion certificates and physical bullion that are stored in Kitco's vaults.

Before we get started with this review:

With so many gold companies out there, how do you know which is the best to invest with?

At Exim Bank India we've spent years researching nearly every gold and precious metals company in the business and report to our readers on the very few that worth investing with.

Our goal is to give you the best information you need to make an informed decision.

That is why we created a list of the best gold investment companies from our extensive research, and you can use this list to help you make the best choice.

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Information About Kitco

kitco homepage

Founded in 1977 by Marvin Steinberg, Saul Nusbaum, and Bernard Kitner, Kitco's headquarters are based in Montreal, Canada. This firm provides products that come from government and private mints from across the world.

Kitco also offers useful information on metal markets along with other news that relates to finances.  Kitco has earned the reputation of becoming a highly reputable source when it comes to the current prices of gold, and the prices of other precious metals over time.

These metals are typically sold in ingots, rounds, coins, and bars with various weights and purities. For over half a century, millions of customers from across the globe have trusted Kitco for its premium services and product range. 

Historically, many of the well-known precious metals have outperformed most investments, especially during times of economic turmoil.

Kitco is one of the best companies to choose from if you are looking to diversify your portfolio when you purchase silver, gold, platinum, or palladium.

Precious metal investments are also an excellent way to safeguard your money against economic downturns and inflation.

Services and Products

Gold is one of the best hedges against recession, inflation, and volatility when it comes to the markets. It is a valuable store, which ultimately means that it will always hold value. Gold can also be used for investments or jewelry.

Kitco offers the tools and advice that you need when it comes to selling and buying gold, along with a few other precious metals. Kitco provides a range of services and products that you can use to protect your wealth, including:

  • Live Gold Price

Kitco's website updates the live market price relating to gold every two seconds. This is very useful in helping you to decide the best time to sell or buy gold.

  • Gold Coins

You can purchase gold coins from Kitco over a phone call or online through one of the highly experienced representatives. Kitco can also give you the best advice on the types of coins that are best suited to your situation.

This precious metal dealer also sells popular Gold Krugerrands and Gold Sovereigns.

  • Gold Bars

Kitco offers a range of bars from 1 gram up to 1 kilogram gold bars which is an excellent way for investors that are looking for ways to save on premiums.

  • Kitco News

Kitco offers the most current news on the topics that influence the precious metal markets and they provide commentary sourced from analysts that are highly respected in the precious metal sector.

  • Bullion Coins and Bars

Kitco sells palladium, platinum, silver, and gold bullion in a range of sizes. These include one ounce, 10 ounces, and kilobars. There is also an extensive range of bullion coins to choose from.

What Is Gold Bullion?

The term "gold bullion" is sometimes exclusively used for bars, yet this isn't correct. Gold bullion is used for bars, coins, and even tokens and rounds can also be classified as bullion. It is any type of high-purity gold that comes in forms that are suitable for investment.

The definition of gold bullion has to do with its fine-gold content and mass, and with wide economic forces, this is what determines its worth or value.

Kitco Refining

The refining division at Kitco is one of the main leaders in this industry and they have earned a reputation for forming partnerships with customers to offer a premium refining experience.

Kitco also offers accurate and rapid payments with the highest levels of confidentiality. 

The refining division uses the most advanced induction furnaces that melt precious metals such as gold to an accurate purity before it is cast into 99.99% anodes of pure gold, which adheres to international standards.

The refinery is approved and fully licensed by several government agencies.

Kitco Media

Kitco Media is an editorial and news department of Kitoc Metals Inc. along with its subsidiaries. This includes exclusive webcasts, Kitco.com, and Kitco news.

Kitco aims to provide up-to-the-minute, accurate coverage of the most current news that impacts the markets of precious metals directly without fluff or speculation. 

The news team at Kitco covers the most current developments as they unfold in the silver and gold markets, leading people and global events, technology relating to different precious metals, and the essential economic data that affect these markets.

They also have a media library that contains more than 30 years of coverage in video format including mining, geopolitical, and investment news.

With more than 5 million views each year, Kitco Media has become one of the most trusted sources when it comes to financial news. Kitco News is available across the globe and millions of people, namely investors read this news. 

Kitco Media offers press releases that cover the different companies within the sector of precious metals, and they partner with several companies to offer news items that are relevant for their different websites.

Kitco Gold Index

buying and selling gold

KGX, which stands for Kitco Gold Index is one of the exclusive features that work out the relative values of a gold ounce against all the other main currencies across the globe.

The KGX measures how many U.S. dollars are needed to purchase a single gold ounce and are one of the best ways to stay informed when it comes to current fluctuations within the markets.

The Kitco Gold Index reflects the gold price measured in relation to a portfolio that includes five of the major currencies rather than only one.

The KGX offers a measure that is more accurate for investors from countries across the globe since it represents the real cost of selling or buying gold or converting sale profits from gold into a local currency.

The KGX also provides up-to-date spot prices on gold for all five major currencies, including Swiss Francs, Japanese Yen, Great British Pounds, Euros, Canadian Dollars, and U.S. Dollars.

This information should be utilized as general commentary for the markets and should not be relied on as investment advice.

The Fundamentals for Gold Investment

There are several ways that you can invest in precious metals such as gold. For example, you could purchase gold-mining stocks, or buy physical gold in the form of coins or bars.

Investors can also choose to buy future contracts and options to benefit from the price changes that occur in the markets. 

When buying stocks, the first thing you need to understand is that stocks represent ownership interest when it comes to a company. But when you purchase gold, it is a physical asset that offers wealth insurance.

To explain this further, regardless of what goes on with the economy, the stock markets, or any other factors that relate to the financial world, gold maintains its value.

Precious metals such as gold are mainly regarded as long-term investments. However, as an investor, you should aim to maintain a gold IRA account for a time frame that will allow your wealth to increase in value and outpace inflation.

It is typically recommended to hold onto a gold investment for a minimum of 3 to 5 years.

How To Open an Account with Kitco

It is possible to view the prices that Kitco has on offer without having to set up an account. However, if you decide to purchase precious metals from this company you will need to register for an account.

Creating an account with Kitco is free and will only take a couple of minutes.

Step One: 

Make sure you are on the website (kitco.com) and then click on "Open An Account" (on the top-right-hand corner) on the home page. From here follow each prompt on how to register your account.

Step Two: 

Kitco will send you your confirmation email which will give you instructions on how to confirm and activate your Kitco account.

You will then be requested to answer a few security questions and a few personal information questions which allows you to start logging into the account.

Step Three:  

Once your Kitco account has been confirmed, you can start placing orders for the products on offer by adding these to a shopping cart. The company uses a secure-payment system when you are ready to check out

Shipping Information

There are different shipping options to choose from when partnering with Kitco. The company automatically provides insurance on each package. However, you do have the choice to opt out if you don't want to buy insurance coverage.

Domestic Standard Shipping 

If you live in Canada, Kitco ships via Express Saver (depending on the size of the package) or UPS Standard. The delivery time also depends on where you are located in Canada.

International Shipping 

Kitco ships orders across the globe. For international orders, Kitco provides the United States Postal Priority Mail and Federal Express International Priority.

They use Federal Express International Economy for large shipments and International for smaller shipments. The delivery times will depend on the location of the receiver outside Canada.

What Is a Kitco Precious Metals IRA?

Many American citizens are starting to look at precious metals as a way to safeguard their wealth and retirement funds. 

Kitco can assist you with setting up a precious metals IRA with a dedicated administrator who will be with you through each step of the process, which includes setting your self-directed account up and helping you to choose a depository.

The Kitco precious metals IRA is provided in a partnership with a new direction IRA, a custodian that specializes in IRAs, and other types of tax-advantaged accounts.

Kitco offers an extensive selection of bullion products that are eligible for IRAs, including gold, palladium, platinum, and silver coins and bars.

The Benefits of a Precious Metals IRA

The benefits relating to using a precious metals IRA for investment purposes are numerous. It offers an excellent way to diversify investments, while reducing risks, especially in the turbulent economy of today.

Precious metals such as gold and silver provide an excellent hedge when it comes to inflation along with the activities that go on in the stock markets. One of the other benefits is that it allows investors to hold tangible precious metals in their retirement accounts.

You can either store your precious metals with a custodian or take possession of it.

What are IRA Eligible Precious Metals?

Palladium, platinum, silver, and gold are permitted by the IRA to be stored in a Precious Metal IRA. The IRS permits such metals (of certain alloys) in an IRA account. However, the purity of these metals must have a minimum purity level of 99.5% and must also match the standards set out by the IRS.

The precious metal products that can quality depend on a couple of factors, which include the IRA type and where you have purchased the metals from.

Kitco Reviews

Many customers mention very positive things about Kitco. The company has been praised for its customer service, how easy it is to place orders, and its security levels.

Customers that did experience issues with their orders were generally satisfied when it comes to how Kitco works on quickly solving the problem. Kitco has one of the highest ratings on the BBB and Trustpilot.

Kitco is recognized as among the top places to buy or sell your gold online. They have an excellent reputation and provide free shipping and quick sales.

They also have a fantastic Support Team that has also received countless positive reviews over the years from past clients. Most customers are very happy with the helpful nature and quick response that this company provides.

PROS

  • Fully insured and fast shipping
  • Well laid out and easy-to-use website
  • They have an excellent reputation and are experts in the field of precious metals
  • Kitco provides several investment options which include bars and coins

CONS

  • The shipping charges are high for smaller orders
  • There are no discounts on offer for a cash purchase
  • No options when it comes to storing your precious metals with Kitco
  • Costs more than purchasing directly from the mints or dealers

Is Kitco a Scam?

Kitco is a well-established business with an A+ rating from the BBB (Better Business Bureau). The company is backed by many great reviews and years of experience.

For more than 50 years, Kitco has offered investors easy access to market information, cutting-edge services, and physical bullion.  Kitco is one of the most legitimate precious metal refiners and dealers out there.

They sell and buy palladium, platinum, silver, and gold in different forms and sizes, from scrap metal to bullion bars to coins. You are guaranteed that Kitco will always deliver the products you purchased.

Conclusion

The main service of Kitco is to provide easy access to real-time silver and gold prices, which are updated actively at least 4 times every day. Kitco provides a premium range of mint gold coins and they do so at highly competitive prices.

We hope that this review on Kitco has given you the information that you need to make an informed decision when choosing a precious metal dealer for your investments.

Kitco is a decent company, but we do not recommend them, there are better options for individual precious metals purchase and much better option for precious metals IRAs.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

Click Here for Our List of the Best Gold IRA Companies to Invest With

Or, if you like what you have read about Kitco, you can go to their website below: