620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
In this Kitco review, we take a look at the business, its offerings, what we liked, what we did not like and whether we would or would not use it to invest in gold or a gold-backed IRA.
Who is Kitco?
A Canada-based precious metal investment and exchange service, Kitco provides essential information about current metal quotes, charts, reports and data that will guide any potential investor.
Moreover, they give individuals an opportunity to purchase bullion from a wide array of products offered. Investors can also sell precious metals using their web service at a competitive rate.
This business all started in the latter part of 1970s, when Bart Kitner, who was then a college student, began to trade scrap gold with his loan worth $700.
He gained much success from this endeavor, and that enabled him to explore into our investment opportunities such as various industrial areas in the country.
During the late 1990s, he started getting into buying and selling precious metal products. By 1995, Kitco.com was founded, and this provided market information to investors including news, trends and prices.
At present, the company does not only serve Montreal, but also other cities such as Hong Kong and New York.
What Does Kitco Offer?
Kitco Metals is renowned for its live quotes, up-to-date market information and news as well as online charts that serve as a guide for investors.
They have a vast selection of metal product offerings available including silver, gold, platinum, rhodium and palladium.
Kitco also offers coins, bars and bullions for sale. In fact, the company is popular for its extensive line of high quality gold coins and gold bullion bars. It is also a recognized reseller of GoldMoney.
It is also worth noting that Kitco has its line of Signature Products that are .9999 pure gold and fine silver. These precious metals are among the finest in the industry, and exclusive fabricators create, craft and mint these products.
For those who are planning to invest in this company, Kitco offers the Pool Accounts as one of its investment options. It is a deposit account based on precious metals, and holders can obtain physical bullion through any kind of bar or coin carried by Kitco.
Clients are also given a distinct and unallocated storage format in the company’s pool of precious metals.
Aside from these services, the company provides secured storage, IRA accounts, a buy-back program and gold and silver from its Signature Products.
Things To Like About Kitco
The following are among the key features that most clients appreciate about Kitco:
1. User-Friendly Website
Investors experience an easier time buying products from Kitco because of its website that is easy to navigate. The web page where you can buy products features the recent asking price for bullion.
This helps you make a better decision as you obtain up-to-the-minute rates of the product you are planning to purchase.
There are also helpful categories at the top part of the webpage that guide you when investing including charts, metal quotes and news. You will not find any shortage of information that can help you decide further when buying a type of metal using their web service.
2. Reliable Price List
Another aspect about Kitco that satisfies most individuals is the reliable and accurate list of prices on their site. They appreciate how the rates presented are the actual prices that people need to pay, and this is a major factor since it allows investors to know exactly the amount they are charged upon placing an order.
3. Professional Customer Service
It is important to note that the company provides a professional level of customer service to their clients. Kitco has a phone support service which allows investors to speak with a representative who can help them with any concerns they might have regarding their investments, or simply when they need to present their inquiries before purchasing a product from the company.
Things NOT To Like About Kitco
While Kitco is noted for a number of impressive features, there are certain aspects to think about before making an investment including the following:
1. Unsuitable for Numismatic Collectors
The company may give you a chance to explore and expand on your bullion collection, yet it may not meet the needs of numismatic collectors. Kitco does not offer any coin supplies or rare coins which other companies in the industry provide.
2. Lack of Client Reviews
As you browse online for information about the company’s present clients, there appears to be a lack of information on this aspect. What’s more, there are no Kitco Metals reviews or rankings at Business Consumer Alliance and TrustLink.
This can be rather alarming since if the company has a large base of customers, there should at least be numerous positive reviews about them.
3. Absence of Live Online Support
Although the company has a responsive team of customer service representatives, it would be better if investors can speak with Kitco’s personnel for assistance via real-time online live chat.
This will speed things up when immediate assistance is necessary, but unfortunately, Kitco does not seem to have this type of customer service.
Kitco – IRA Fees
|Initial Setup Fees||Depends on Custodian|
|Annual Admin Fees||Depends on Custodian|
|Annual Storage Fees||$150|
|Minimum Purchase Amount||Not Disclosed|
|Preferred Depository||Brink’s Global Services|
Rankings, Complaints and Customer Reviews
Better Business Bureau (BBB)
The company is not BBB-accredited, although the BBB has given the New York office of Kitco an A+ rating. On the other hand, the Montreal office is not listed on the BBB official website in Canada (read more).
Business Consumer Alliance (BCA)
Kitco is not listed with the Business Consumer Alliance.
There are no customer reviews or ratings for Kitco at TrustLink. Considering how the company has been in operation for quite a number of years, it is rather strange that there are no ratings or feedback about it at the TrustLink website.
As of now there have not been any complaints logged at Ripoff Report for Kitco.
Kitco Review – Final Thoughts
While the company may be known for a number of outstanding services, certain factors can prevent potential clients from investing at Kitco.
For instance, there are no rare coins available, real-time online chat is not offered, and there is an insufficient amount of details about the company operations.
Furthermore, those who are looking to find out more about other clients’ experience with Kitco are not likely to come across any reviews from authority sources such as TrustLink since the company has no customer ratings at this site.
Overall what matters most when it comes to choosing the best company for your investments is reputation and transparency.
Although there may be numerous products offered, it all boils down in the company’s reliability and consistency in providing the finest service that meets the demands of its existing customers.
So, if a huge percentage of clients are pleased with what the company is offering then you should be able to obtain the same level of confidence and satisfaction as well.
- Editor Rating
- Rated 2 stars
- Reviewed by:
- Published on:
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I’ve been a financial retirement planner for over 30 years and have been investing in gold, silver and other alternative investments since 2008. When I’m not spending time with my wife and 3 beautiful children, I am learning more about new emerging technologies such as the blockchain.