Updated on February 17, 2014

 

Kitco Rhodium Sponge

 

·           What is Kitco Rhodium Sponge?

·           Can I buy Kitco Rhodium Sponge?

·           What is the Kitco Chain of Integrity?

·           When is the Kitco Chain of Integrity considered broken?

·           What are the benefits of using a Kitco Recognized Storage Facility?

·           Are there costs involved with using a Kitco Recognized Storage Facility?

·           Can I use a storage provider other than a Kitco Recognized Storage Facility?

·           How do I sell my Kitco Rhodium Sponge when the Kitco Chain of Integrity is intact?

·           How do I sell my Kitco Rhodium Sponge when the Kitco Chain of Integrity is broken?

·           What price will I receive when I sell my Kitco Rhodium Sponge?

·           If I own a 10 oz bottle of Kitco Rhodium Sponge within the Kitco Chain of Integrity and I only want to sell back 5 oz, will I be able to?

·           Can I transfer my ounces of Kitco Rhodium Pool to Kitco Rhodium Sponge?

·           Can I transfer my ounces of Kitco Rhodium Sponge to Kitco Rhodium Pool?

·           Can I sell my rhodium sponge, bar or coin purchased from an external supplier?

 

What is Kitco Rhodium Sponge?

 

Kitco Rhodium Sponge is a Kitco-exclusive product. Pure rhodium, viewed magnified, appears porous and powdery. This is why it is known as “sponge” in industry parlance. Kitco Rhodium Sponge is pure rhodium powder (.999+ fine) packaged in tough, tamper-proof pharmaceutical-grade plastic bottles. In addition to a unique serial number, each bottle’s label bears indications of its contents’ net weight and purity.

 

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Can I buy Kitco Rhodium Sponge?

 

Currently, we only buy back Kitco Rhodium Sponge and no longer sell it. If you already own any Kitco Rhodium Sponge and wish to sell it or covert it into rhodium Pool, please call 1 877 775-4826 or 514 313-9999.

 

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What is the Kitco Chain of Integrity?

 

The Kitco Chain of Integrity is a process by which rhodium sponge purchased from Kitco never leaves the possession or control of recognized suppliers, transporters and facilities. When you choose to keep your Kitco Rhodium Sponge within the Kitco Chain of Integrity, it is sent for storage on your behalf directly to a Kitco Recognized Storage Facility of your choice using a Kitco Recognized Secure Transport Provider. When you desire to sell back your Kitco Rhodium Sponge from within the Kitco Chain of Integrity, it is shipped back to us direct from the Kitco Recognized Storage Facility using a Kitco Recognized Secure Transport Provider.

 

Kept within the Kitco Chain of Integrity, Kitco Rhodium Sponge is thus assuredly pure and safe from unauthorized tampering that could result in a substantial depletion of its resale value (for details, see, “What price will I receive when I sell my Kitco Rhodium Sponge?”).

 

To keep your Kitco Rhodium Sponge within the Kitco Chain of Integrity, you can have it delivered for secure storage to one of the following Kitco Recognized Storage Facilities:

 

·           Brink’s Inc., a subsidiary of The Brink’s Company (established in 1859), is a global leader in business and security services, serving banks, retailers, governments, mints, diamond cutters and jewelers through more than 800 facilities in 110 countries on six continents.
Brinks Vault Services
Tel.: 1 888 562-9034
Fax: 212 704-9502
Email: metals@brinksinc.com
Website: www.brinksinc.com

 

·           G4S International Logistics is a division of G4S plc, one of the world’s leading security solutions companies with operations in more than 110 countries and over 595,000 employees. G4S offers special flat-rate, streamlined services to buyers of Kitco Rhodium Sponge.
G4S International Logistics
Tel.: 1 800 401-7447 (option 3)
Email: g4si.kamp@g4si.com
Kitco-specific website: https://kamp.g4si.com
Website: www.g4si.com

 

·           VIA MAT INTERNATIONAL (VMI), part of the VIAMAT Group, is a global provider for valuable logistics and secure storage solutions. Headquartered in Switzerland, VMI has modern premises on four continents and in all major financial centers.
VIA MAT INTERNATIONAL
Contact person: Ricardo Vazquez
Tel.: 305 513-2600
Email: ricardo.vazquez@viamat.com
Website: www.viamat.com/vmi

 

 

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When is the Kitco Chain of Integrity considered broken?

 

The Kitco Chain of Integrity is considered broken when:

 

·           You take possession of the physical product

·           You arrange storage with a storage facility other than a Kitco Recognized Storage Facility

·           You tamper with the seal of the bottle(s), even if you do so inadvertently when visiting a Kitco Recognized Storage Facility

 

If a bottle is tampered with while in a Kitco Recognized Storage Facility, it will need to be assayed at a Kitco facility before a price can be confirmed.  All shipping, insurance and assay charges will be your responsibility.

 

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What are the benefits of using a Kitco Recognized Storage Facility?

 

·           By storing your Kitco Rhodium Sponge at a Kitco Recognized Storage Facility, you keep the Kitco Chain of Integrity intact and ensure that the resale value of your rhodium is not compromised

·           The logistics of resale are much simpler and less costly when you want to liquidate all or part of your holding

·           You needn’t pay the shipping and insurance fees associated with taking physical delivery of your rhodium sponge

·           The storage provider insures your metal against loss or damage (refer to your storage agreement for specific terms and conditions)

·           Your Kitco Rhodium Sponge is stored segregated from other customers’ assets held at the Kitco Recognized Storage Facility

 

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Are there costs involved with using a Kitco Recognized Storage Facility?

 

Storage fees covering insurance and handling costs are applicable. Costs vary depending on the Kitco Recognized Storage Facility you choose.

 

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Can I use a storage provider other than a Kitco Recognized Storage Facility?

 

Yes, you may use any storage provider other than a Kitco Recognized Storage Facility. However, this will break the Kitco Chain of Integrity and negatively impact the price at which you would be able to sell your rhodium.

 

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How do I sell my Kitco Rhodium Sponge when the Kitco Chain of Integrity is intact?

 

You cannot sell your Kitco Rhodium Sponge from within the Kitco Chain of Integrity unless it has already been delivered to a Kitco Recognized Storage Facility.

 

To sell us your Kitco Rhodium Sponge when the Kitco Chain of Integrity is intact:

 

 

*

Kitco will only confirm your selling price if your Kitco Rhodium Sponge is already at a Kitco Recognized Storage Facility.

 

Note that it can take up to two business days for your Kitco Recognized Storage Facility to transfer your Kitco Rhodium Sponge to us.

 

Your payment will only be issued when your Kitco Recognized Storage Facility confirms that your Kitco Rhodium Sponge has been transferred to us, that it never left the Kitco Recognized Storage Facility and that its seals are intact.

 

 

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How do I sell my Kitco Rhodium Sponge when the Kitco Chain of Integrity is broken?

 

To sell your Kitco Rhodium Sponge when the Kitco Chain of Integrity is broken, call 1 877 775-4826 or 514 313-9999 from 8:30 a.m. to 10:00 p.m. ET, Monday to Friday.

 

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What price will I receive when I sell my Kitco Rhodium Sponge?

 

Kitco’s buyback price will vary depending on whether or not the Kitco Chain of Integrity is intact.

 

·           When the Kitco Chain of Integrity is intact, we will buy back your Kitco Rhodium Sponge at 100% of the Kitco Rhodium spot bid price, without requiring an assay test.

·           When the Kitco Chain of Integrity is broken

o   If its seal is intact, we will buy back your Kitco Rhodium Sponge at 95%* of the Kitco Rhodium spot bid price.

o    If its seal is not intact, we will buy back your Kitco Rhodium Sponge at 80%* of the Kitco Rhodium spot bid price, less an assay fee of $250 per bottle.

 

Please note that the assaying process is destructive and materials that are subjected to it cannot be returned to you in their original condition.

 

*

See the Kitco Rhodium Sponge Terms and Conditions for details.

 

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If I own a 10 oz bottle of Kitco Rhodium Sponge within the Kitco Chain of Integrity and I only want to sell back 5 oz, will I be able to?

 

You can only sell an entire bottle Kitco Rhodium Sponge at a time. We cannot buy back any part of a Kitco Rhodium Sponge bottle.

 

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Can I transfer my ounces of Kitco Rhodium Pool to Kitco Rhodium Sponge?

 

No, Kitco Rhodium Pool cannot be converted into or transferred to Kitco Rhodium Sponge because Kitco Rhodium Sponge is no longer available for purchase.

 

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Can I transfer my ounces of Kitco Rhodium Sponge to Kitco Rhodium Pool?

 

As long as your Kitco Rhodium Sponge is within the Kitco Chain of Integrity, we will convert your Kitco Rhodium Sponge into Kitco Rhodium Pool ounce for ounce. If your Kitco Rhodium Sponge is outside the Kitco Chain of Integrity, the calculation will be based on purity and whether or not the bottles are tampered with. You will lose the fabrication fees.

 

For further information, call 1 877 775-4826 or 514 313-9999 from 8:30 a.m. to 10:00 p.m. ET, Monday to Friday.

 

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Can I sell my rhodium sponge, bar or coin purchased from an external supplier?

 

Yes, you can sell rhodium sponge, bars and coins sourced from an external supplier to Kitco. However, the price we pay for it will depend on several factors such as the source and purity of the metal the need for assaying it. To sell rhodium sponge sourced from an external supplier, call 1 877 775-4826 or 514 313-9999.

 

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