Bullion Cancellations and Returns

• For every cancelled purchase, an administrative fee of $99.95 will be charged
  • If the price of the precious metals you were purchasing rises above the price at which you agreed to purchase them, there will be no additional charge
  • If there is no change in price from the time you make your purchase to the time it is cancelled, there will be no additional charge
• Kitco incurs a market loss when the price of the precious metals you were purchasing falls below the price at which you agreed to purchase them. Should this happen, you will be charged the equivalent of the resultant decrease in the total value of your purchase in addition to the $99.95 administrative fee.

When you cancel a purchase, in addition to paying a $99.95 administrative fee, you may have to reimburse Kitco for any market loss we sustain as a result of the cancellation of your purchase. If there is no change or an increase in price from the time you make your purchase to the time it is cancelled, you will be charged only the $99.95 administrative fee. However, if we do sustain a market loss (i.e. if the price of the precious metals you were purchasing falls below the price at which you agreed to purchase them), you will be charged as illustrated by the following examples.

If your purchase is cancelled at your request before the payment deadline, the market loss will be calculated using the relevant Kitco live spot price that prevails at the time when you request the cancellation.

Kitco will issue multiple payment reminders before cancelling your purchase. If your purchase is cancelled due to non-payment, the market loss will be calculated using the last available price fixing published by the London Bullion Market Association (the London PM Fix) on the day that the payment deadline expires.

Any market loss repayment and administrative fees that you owe may be charged to your credit card. We will send you an email to notify you of the charge.

Your payment must be received by Kitco no later than three business days from the date on which a price is confirmed for your purchase.

If we do not receive your payment by this deadline, Kitco may deem your purchase to be cancelled and you may be liable for market loss repayments and other fees, as described in our Terms and Conditions.

If you expect your payment to be delayed, please call 1 877 775-4826 or 514 313-9999 to have this fact noted on your account.

Transactions wherein you undertake to sell physical product to Kitco will be cancelled after 10 business days of their price being confirmed if we do not receive the product that you undertake to sell to us.

• For every cancelled sale, an administrative fee of $99.95 will be charged
  • If the price of the precious metals you were selling falls below the price at which you agreed to sell them, there will be no additional charge
  • If there is no change in price from the time you make your sale to the time it is cancelled, there will be no additional charge
• Kitco incurs a market loss when the price of the precious metals you were selling rises above the price at which you agreed to sell them. Should this happen, you will be charged the equivalent of the resultant increase in the total value of your sale in addition to the $99.95 administrative fee.
• If the precious metal products that you send us are of lower weight, purity or value than those for which you confirm a price, the deficit (the difference between the value for which a price was confirmed and the value that is actually received) will be treated as a cancellation and will be subject to the usual policy regarding cancellations, including the application of a $99.95 administrative fee

When you cancel a sale, in addition to paying a $99.95 administrative fee, you may have to reimburse Kitco for any market loss we sustain as a result of the cancellation of your sale. If there is no change or a decrease in price from the time you make your sale to the time it is cancelled, you will be charged only the $99.95 administrative fee. However, if we do sustain a market loss (i.e. if the price of the precious metals you were selling rises above the price at which you agreed to sell them), you will be charged as illustrated by the following examples.

If your sale is cancelled at your request before the shipment deadline, the market loss will be calculated using the relevant Kitco live spot price that prevails at the time when you request the cancellation.

Kitco will issue multiple shipment reminders before cancelling your sale. If your sale is cancelled by Kitco, the market loss will be calculated using the last available price fixing published by the London Bullion Market Association (the London PM Fix) on the day that the deadline for receiving your precious metals expires.

Any market loss repayment and administrative fees that you owe may be charged to your credit card. We will send you an email to notify you of the charge.

Yes, you can cancel a sale of scrap metal after confirming a price for it. However it will be subject to cancellation charges. For more information, see our FAQ on the Scrap Cancellation Policy

Market loss repayments and administrative fees are applied under the following conditions:

• If you confirm a sale and send no material
  • If you confirm a sale and do not send Kitco any material, the sale will automatically be cancelled after 10 business days.
• If you send less pure metal than was reserved at the time of price confirmation
  • If Kitco receives less pure metal than was reserved at the time of price confirmation, you will be charged an administrative fee of $99.95.
  • In addition to the $99.95 administrative fee, should the price of pure metal have moved against your sale, you will be charged the difference between the sale price and the current market price, multiplied by your deficit amount (33.4g in the following example)
    • For example:
    • You confirm a price for 100g of 18k (75 g of pure)
    • You send 100 g of 10k (41.6 g pure)
    • There is a deficit of 33.4 g of pure (75g - 41.6g = 33.4g)
    • You will be given the option to pay this difference by credit card, or have it deducted from the balance that Kitco owes you for the material
• If you confirm a price for a sale and decide to not sell your material to Kitco after it has been tested
  • If you confirm a price for a sale and then decide to not sell the material after it has been tested, the sale will immediately be cancelled and all of your material will be returned to you. The following fees will apply:
    • A minimum $99.95 administrative and market loss repayment fee (based on how the price moves, as described above)
    • A $70 handling fee
    • Return shipping fee depending on weight and method of shipping
    • Any applicable processing fees (i.e. melt and assay fees)

Kitco will attempt to contact you three times by phone and at least once by email (if we have your email address on file) to inform you of the fees before you are charged.

We want you to feel confident and happy with every purchase. If something about your order doesn’t meet your expectations, just reach out to our Customer Service team within three (3) business days of delivery so we can help make it right.

Exchanges

If your item arrives damaged or differs from its description, we’ll gladly arrange an exchange at no additional cost.

For precious metal items, “damage” refers to issues that affect the item’s metal value. Minor surface marks, light scratches, fingerprints, or slight packaging wear can naturally occur during minting, handling, or shipping and do not affect the item’s value.

If you’d like to request an exchange for any other reason, we’re still happy to assist. For these requests, customers are responsible for return shipping and insurance costs.

A few things to keep in mind:

• Availability: Exchanges depend on what we have in stock. If the exact item isn't available, we’ll help you find a close alternative or work out a price adjustment for a higher-value replacement.
• Packaging: Items need to be sent back in their original packaging.
• Condition: Depending on what we have on hand, replacement items may occasionally vary in wear or circulation status.

Returns & Buybacks

Bullion items are not eligible for refunds due to the nature of the precious metals market. If your plans change and you no longer wish to keep your item, we can easily process it as a standard buyback instead. Once we receive the product, we'll calculate the payout based on the current market price and deduct the return shipping costs from your final amount.

Returns for Cool & Collectible items are reviewed on a case-by-case basis and may be subject to a restocking fee.

How to Get Started

If there’s an issue with your order, send our team a message within the 3-day window. Including a few photos of the item and packaging will help us review everything faster and find the best solution for you.

Phone: 1 877 775-4826 or 514 313-9999
Email: info@kitco.com