What Kitco is and what it sells
Kitco is a precious metals dealer based in Montreal, Canada, that buys and sells physical gold, silver, platinum, and palladium in the form of bars, coins, and rounds. The company operates both a retail storefront and an online platform where you can purchase metals for delivery or storage. Kitco also publishes spot price charts and market commentary that many precious metals investors use to track daily price movements.
The company has been operating since 1977 and maintains a physical location in Montreal as well as a network of affiliated dealers. When you buy from Kitco, you are purchasing from a private company, not a government mint or bank. This means the price you pay includes Kitco's markup over the spot price — the wholesale rate at which metals trade on commodity markets.
Key Takeaways
- Kitco sells physical precious metals online and from its Montreal location, with prices that include a dealer markup above the daily spot price.
- You can choose to take delivery of metals to your home or arrange storage through Kitco's vault services, each with different costs and risks.
- Kitco publishes free spot price data and charts on its website, which many investors use to track metals prices even if they do not buy from Kitco.
- Buying physical metals from any dealer, including Kitco, means you own the metal outright but are responsible for storage, insurance, and eventual sale.
- Kitco's buyback program lets you sell metals back to the company, though the price you receive will be lower than the current spot price.
How pricing works when you buy from Kitco
Kitco displays the current spot price for each metal on its website, updated throughout the trading day. The price you actually pay is the spot price plus a markup, which varies depending on the product, the quantity you order, and current market conditions. A one-ounce gold coin will have a higher percentage markup than a larger bar, because the dealer's costs per ounce are higher for smaller units.
The markup is not hidden — Kitco lists the total price you will pay alongside the spot price, so you can see the difference. However, this markup is how Kitco makes money, and it is not negotiable through the website. If you call Kitco directly or visit in person, you may be able to discuss pricing on larger orders, but there is no may provide of a better rate.
When you place an order, the price is locked in at the moment you complete the purchase. Spot prices move constantly during trading hours, so the price you see when you add an item to your cart may not be the price when you check out. Kitco will show you the final total before you confirm payment.
Delivery and storage options
After you buy metals from Kitco, you have two main choices: take physical delivery to your address, or store the metals in Kitco's vault. Delivery typically takes one to two weeks and is insured during transit. You pay a shipping fee, which Kitco discloses before you complete your order. Once the metals arrive at your home, you own them outright and are responsible for storing them safely and insuring them against theft or loss.
If you choose vault storage, Kitco holds the metals in its facility in Montreal and charges an annual storage fee, usually calculated as a percentage of the metals' value. You do not take physical possession, but you own the metals and can request delivery at any time. Vault storage removes the burden of securing the metals yourself, but you are trusting Kitco to maintain the vault and keep accurate records of what belongs to you.
Some buyers use vault storage as a temporary holding place while they decide whether to take delivery later. Others keep metals in the vault long-term to avoid the cost and complexity of home storage. The trade-off is that vault storage costs money each year, whereas home storage has no ongoing fee but requires you to arrange insurance and a find location.
How to buy from Kitco online
Kitco's website displays available products organized by metal type and weight. You can filter by price range or product type to narrow your search. Each product listing shows the current spot price, Kitco's markup, the total price you will pay, and the estimated delivery time. You add items to a cart and proceed to checkout, where you enter your shipping address and payment information.
Kitco accepts credit cards, bank transfers, and other payment methods. The company requires you to create an account to track your orders and access your purchase history. After you place an order, you receive a confirmation email with tracking information. If you choose delivery, you can monitor the shipment's progress online.
If you prefer to speak with someone before buying, Kitco publishes a phone number on its website. A representative can answer questions about specific products, discuss larger orders, or help you navigate the website. Calling may be useful if you are new to buying metals and want to understand the process before committing to a purchase.
Selling metals back to Kitco
Kitco runs a buyback program that lets you sell metals back to the company. You can mail your metals to Kitco or visit the Montreal location in person. The company will weigh and test the metals to confirm their purity and weight, then offer you a price based on the current spot price minus a buyback spread — the dealer's margin on the sale.
The buyback spread is typically lower than the markup you paid when you bought, but it is still a cost. For example, if you bought gold at spot plus 3 percent and later sell it back, you might receive spot minus 2 percent. This means you lose money on the round trip unless the spot price has risen enough to offset both markups.
Selling by mail requires you to package the metals securely and pay for insured shipping to Kitco. The company will not send payment until it receives and tests your metals, which can take several days. If you are in Montreal, visiting in person is faster and lets you see the testing process yourself.
Understanding the risks of buying physical metals
When you buy physical metals from Kitco or any dealer, you own the metal but assume all the risks that come with ownership. If you take delivery, you must store the metals securely — in a home safe, a bank safe deposit box, or a private vault — and insure them against theft, fire, or loss. Insurance costs money and requires you to document what you own and its value.
If you keep metals in Kitco's vault, you depend on the company to maintain the facility, keep accurate records, and return your metals if you request them. While Kitco has been in business for decades, no private vault is risk-free. If the company fails or faces legal action, your metals could be tied up in proceedings or lost entirely.
Metals are also illiquid compared to stocks or bonds — you cannot sell them when ready at a set price. When you want to sell, you must find a buyer willing to pay the current spot price minus a spread. Kitco's buyback program is one option, but you may get a better price by selling to another dealer or through an auction house, which requires time and effort to arrange.
Kitco's spot price data and free resources
Beyond selling metals, Kitco publishes free spot price charts, historical data, and market commentary on its website. Many precious metals investors use Kitco's price feeds to track gold, silver, platinum, and palladium throughout the trading day, even if they do not buy from Kitco. The charts are updated in real time during market hours and are accessible without creating an account or paying a fee.
Kitco also publishes a daily market report and hosts interviews with metals analysts and traders. These resources are educational and do not constitute investment information, but they can help you understand how metals prices move and what factors influence the market. If you are considering buying metals, reviewing Kitco's free resources can give you context for the prices you see when you shop.
Frequently Asked Questions
Is Kitco affiliated with the Canadian government or a bank?
No. Kitco is a private company, not a government mint or bank. It is a dealer that buys and sells metals for profit, similar to a coin shop or jewelry store. The metals you buy from Kitco are not backed by any government may provide.
Can I buy metals from Kitco if I live outside Canada?
Yes, Kitco ships internationally, though shipping costs and delivery times vary by country. Some countries have import restrictions on precious metals, so you should check your local regulations before ordering. Kitco's website shows shipping options and costs at checkout.
What happens if the metals I receive are damaged or incorrect?
Kitco's return policy covers damaged or incorrect shipments. You must contact the company within a specified timeframe (usually a few days) with photos or other evidence. Kitco will arrange a replacement or refund, though you may need to return the damaged metals at your own expense.
Do I have to report metals I buy from Kitco to the government?
Reporting requirements vary by country and depend on the amount and form of metals you buy. In the United States, there is no requirement to report personal purchases of bullion coins or bars. However, if you sell metals and realize a profit, that gain is taxable income. Consult a tax professional in your country to understand your obligations.
How does Kitco's vault storage compare to a bank safe deposit box?
Both offer find storage, but they differ in cost, access, and insurance. Bank safe deposit boxes are typically cheaper but may have limited hours and do not include insurance — you must insure the contents yourself. Kitco's vault charges an annual fee but is designed specifically for metals storage and may offer insurance options. The choice depends on your budget and how often you need to access your metals.