How to sell bullion precious metals to Kitco
Whether you are looking to sell gold or silver, physical bullion or Kitco Pool, below are the answers to the top questions regarding how to sell your precious metals to Kitco. Looking to sell precious metal scrap? Use our selling precious metal scrap guide for more information, or call 1 877 775-4826 (Monday to Friday, 8:30 a.m. to 10:00 p.m. ET).
- What products can I sell to Kitco?
- Is there a minimum amount of precious metals that I must sell?
- How do I sell my coins or bars to Kitco?
- When is the price of my sale confirmed?
- Can I ship my coins and bars to Kitco without confirming a price?
- Can I drop my package off at one of your physical locations?
- How should I ship my items to Kitco?
- When is a deposit of funds required to make a sale? Do I need to pay to confirm a price?
- How will I be paid for precious metal bullion products that I sell to Kitco?
- How long will it take for me to receive my payment?
Kitco Metals Inc. buys the following types of products:
- Precious metal bullion products (coins and bars and Kitco Rhodium Sponge) can be sold to Kitco by any individual, business or trust
- Scrap metal (jewelry, watches, metal filings, silver tableware, decorative items, dental gold and silver, etc.) can be sold to Kitco only by businesses (and not individuals) whose activities have a logical link with the sale of their scrap metals. Examples of such businesses are jewelers, pawn shops, antique dealers, manufacturers, dental laboratories, etc.
This section of the FAQs pertains to the sale of precious metal bullion products to Kitco. For further information on selling scrap metal, see our Selling scrap metal FAQs or call 1 877 775-4826 (Monday to Friday, 8:30 a.m. to 10:00 p.m. ET).
There is no minimum amount of precious metal bullion products that must be sold to Kitco online or over the phone.
Kitco Rhodium Sponge can only be sold over the phone (1 877 775-4826 or 514 313-9999). To sell any other precious metal bullion product online:
- Confirm that the product you want to sell is a coin or bar
- Select the relevant product from the list of the products we purchase
- Click on Create packing slip to create your packing slip
- Print two copies of the packing slip, one for your records and another to be included with your shipment
- Send your package to the address on the packing slip
To see what you need to do confirm your price and when you can do so, see “When is the price of my sale confirmed?”
For further information, call 1 877 775-4826 or 514 313-9999.
You may have the price of your sale confirmed at one of the following junctures:
- When you call in to make your sale
- While creating your packing slip
- When Kitco receives your product*
NOTE: Kitco guarantees the price that is confirmed on the packing slip only if your package:
- Is postmarked within one business day of the date on which the price is confirmed, and
- Is received by Kitco within 10 business days
*If your sale includes items listed under the Other products section, your price can be confirmed only when Kitco receives and verifies your shipment.
Yes, you can ship precious metal bullion products to Kitco without confirming a price. You may also confirm a price before we physically receive your products (as long as you are not selling any items listed under the Other products section). If you have not confirmed a price before dispatching your products or while they are in transit, we will price your shipment at the market price that prevails when we receive it.
We can also convert your precious metal bullion products into Kitco Pool, which you can hold indefinitely. This is an excellent option if you no longer want to hold precious metals in physical form and still want to watch the market and sell at a later date.
Yes, Kitco has multiple locations in the northeastern United States and Canada at which you can personally drop off items that you are selling to Kitco. Note however, that depending on where you deliver your package, Kitco may charge a drop-off fee of up to $70 for each package and that some locations may not accept drop-offs of certain items.
For further information or to make a drop-off appointment, call 1 877 775-4826 or 514 313-9999.
When shipping your items to Kitco (whether with Kitco’s assistance or on your own), it is very important to pack them as indicated in our shipping instruction sheet.
Shipping products with Kitco’s assistance
Kitco can assist you with shipping and insurance if you are based in the United States or Canada. You will be able to opt for Kitco-assisted shipping (which is usually faster, more secure and more cost-effective than a privately dispatched courier shipment) while processing your sale online or over the phone.
For standard packages, our shipping and insurance charges are usually as follows:
- $30 flat rate for shipping
- $4 per U.S. $1,000 worth of product for insuring gold, silver, platinum, palladium and rhodium shipments
- You can choose to pay the shipping and insurance charges by credit card or have them deducted from your payout
While processing your sale online or over the phone, you can also opt between having your package picked up (from the address associated with your account) and dropping it off at the courier yourself. If you choose the drop-off option and change your mind, call 1 877 775-4826 or 514 313-9999 to ask about or schedule a pick-up.
Large or non-standard packages (such as those containing 500-coin Monster Boxes, 100 or 400 oz gold bars, more than 700 oz of product, more than $100,000 worth of product, etc.) usually cost more to ship and insure than specified above. Kitco may be able to assist you with shipping and insuring such packages, but this cannot be done online. Please call 1 877 775-4826 or 514 313-9999 to inquire about shipping large/non-standard packages or shipping from outside the United States or Canada.
Shipping products yourself
You can also choose to undertake your own shipping. We strongly recommend that you use a courier service such as FedEx or UPS and that you have your package insured. For added security, please ensure that:
- Your package is double-boxed with all products packed snugly into a strong box that is itself placed inside a slightly larger box
- The exterior of your package bears no indication of the nature or value of its contents
Under certain conditions, you need to deposit funds to make a sale and confirm a price. The deposit requirements depend on your country of residence (or the location of your principal place of business) and the total value of your open transactions*, as follows:
Within the United States or Canada
Total value of all open transactions* Price confirmation requirements Up to $50,000 No deposit required, but a valid Visa or MasterCard credit card number† must be submitted. Over $50,000 and up to $100,000 You may be required to provide a valid Visa or MasterCard credit card number† and are required to have 15% of the total value of all open transactions in cleared funds on your account or in cleared Kitco Pool holding‡ Over $100,000 You may be required to provide a valid Visa or MasterCard credit card number† and are required to have 25% of the total value of all open transactions in cleared funds on your account or in cleared Kitco Pool holding‡
All other countries
Total value of all open transactions* Price confirmation requirements Up to $20,000 No deposit required, but a valid Visa or MasterCard credit card number† must be submitted. Over $20,000 and up to $100,000 You may be required to provide a valid Visa or MasterCard credit card number† and are required to have 15% of the total value of all open transactions in cleared funds on your account or in cleared Kitco Pool holding‡ Over $100,000 You may be required to provide a valid Visa or MasterCard credit card number† and are required to have 25% of the total value of all open transactions in cleared funds on your account or in cleared Kitco Pool holding‡
*For the determination of collateral requirements, the value of all open transactions (outstanding/incomplete purchases and sales) is considered in addition to the value of the current sale. Sales of Kitco Pool are not included in open transactions. The value of your open transactions is considered in U.S. dollars if your current sale is in U.S. dollars. For sales in other currencies, your open transaction values are considered in the equivalents of U.S. dollars, rounded up to the nearest $1,000.
†A credit card cannot be used to pay for a purchase. Your credit card will only be used to confirm your price and, at Kitco’s discretion, to recoup any market loss charges and other fees that may become payable.
‡Funds on account are considered cleared when there are no holds placed on the funds. A cleared Kitco Pool holding is one that is fully paid for and against which no claims are outstanding.
Depending on your country of residence (or the location of your principal place of business), you may choose to be paid by any of the following methods:
Mode of payment U.S. and Canadian customers Customers from other countries Service fee Check sent by regular mail* ✓ × None Check sent by courier* ✓ × $30 USD or CAD bank wire sent to a bank in the USA or Canada ✓ ✓ $40 USD or CAD bank wire sent to a bank outside the USA and Canada† ✓ ✓ $60 GBP or EUR bank wire‡ ✓ ✓ £50/€60 Bullion products normally carried by Kitco ✓ ✓ None Credit to the funds on your account ✓ ✓ None Credit to your Kitco Pool account ✓ ✓ None
*Checks can only be sent for USD or CAD payments to US/Canadian residents.
†For USD or CAD bank wires sent to banks outside the USA and Canada, Kitco will pay all intermediary bank fees.
‡Payments in GBP or EUR can only be made by bank wire or credited to funds on account.
Kitco usually sends you your payment within two business days of receiving the shipment of the products you are selling. Depending on the method by which you choose to be paid, it can take up to 10 business days for you to actually receive your payment. Exceptionally, in the case of U.S or Canadian statutory holidays, extraordinarily high market activity, very high-value sales and other unforeseeable circumstances (such as transport strikes or natural disasters), the processing of your sale and the sending of your payment may be delayed.