I have used Kitco for sell orders multiple times in the past without issue. However, my most recent transaction has been extremely problematic.
I initiated a sell order for 5 American Gold Eagles on February 9, 2026. Initially, I was told there would be a 5 business day delay, which later became 10, and eventually up to 30 business days. This felt like a bait and switch. After nearly a month, on March 9, I was informed that the package did not contain the five coins.
They then initiated an internal review and insurance process, stating it could take up to 90 business days from when the claim was opened, not from when I shipped the package.
I followed all shipping instructions carefully, including securely packing and double boxing the contents. Despite this, I was required to provide photos and even obtain a notarized letter explaining how I packaged the shipment, at my own expense.
According to UPS tracking, the package was reported damaged by Kitco on March 6. However, on March 10, both the investigation and insurance claim were closed by UPS because they were unable to contact the receiver, which in this case is Kitco.
On March 16, I discovered this myself through UPS tracking and confirmed it directly with a UPS representative. Kitco had no knowledge that the claim had been closed and had been operating as if everything was proceeding normally. I had to inform them of the status. This indicates they were not actively monitoring the claim.
Had I not taken the initiative to check and follow up, this may have gone unnoticed entirely.
Kitco has since said they are “following up,” but I have received no meaningful update. They continue to repeat that the process may take 90 business days, despite clear mishandling of the situation.
I find it highly concerning that processing delays increased significantly, followed by a claim that my nearly $25,000 shipment was empty, refusal to provide footage of the package being opened, and then a failure to properly manage the UPS claim.
At this point, I am still out $25,000 and have serious doubts about whether this will be resolved properly given how the case has been handled so far.
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Millions of precious metal investors trust Kitco as their #1 source for 24-hour precious metal price updates, industry news, and financial market insights. Kitco Metals both buys and sells physical bullion bars and coins made of investment grade precious metals. For decades we have safely sold and delivered millions of ounces of silver, gold, platinum, palladium, and rhodium bullion products to investors in North America and around the globe. We are also an active buyer of physical precious metal bullion products from our very own offices in Canada, Hong Kong, and the United States. For more details please refer to:See more
