a kitco pool account

zeek

I'm tryig to understand this, members here told me you need 1k to open he acct and get started. I emailed kitco and this was the reply
<<Good Afternoon Mr. ee,



Thank you for your reply. Contrary to what you have been informed of by existing Pool Account holders; there is there is no minimum order requirement on Kitco Pool. It is important to note however, that all purchase and sale transactions less than $2,500.00 involving Kitco Pool will be subject to a $15.00 administrative fee.



The $1000.00 minimum you are referring to is in fact only applicable to physical orders (I.e. for bars or coins) for delivery.>>

what's the deal?

JCMhouston

Why ask why, they say one thing, then email another.

RobertS

Their FAQ;

Kitco Pool Account

derryb

<< <i>I'm tryig to understand this, members here told me you need 1k to open he acct and get started. I emailed kitco and this was the reply
<<Good Afternoon Mr. ee,



Thank you for your reply. Contrary to what you have been informed of by existing Pool Account holders; there is there is no minimum order requirement on Kitco Pool. It is important to note however, that all purchase and sale transactions less than $2,500.00 involving Kitco Pool will be subject to a $15.00 administrative fee.



The $1000.00 minimum you are referring to is in fact only applicable to physical orders (I.e. for bars or coins) for delivery.>>

what's the deal? >>


Not complicated. Two completely different type purchases from Kitco:

1. Using a pool account to purchase unallocated metals that are held by Kitco on behalf of the account holder, no minimum purchase is required. However if under $2,500, subject to a $15 admin fee.

2. You can order/buy physical metal from Kitco (no pool account involved) just as you would buy gold or silver from APMEX or any other metal supplier. Kitco requires a $1,000 min. order for physical metal purchases that will be shipped to you.

You can buy metal from Kitco and have it shipped to you and/or you can open a pool account and buy metal that they hold for you. Two different type purchases. Pool account means all metal sold to account holders is pooled together (unallocated) in one big pile in their vault. Firms that sell stored, allocated metal keep your little pile (with your name on it) separate from the other little piles. Allocated accounts will cost you more.