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Thread: Discussion of converting Kitco pool holdings to physical metal

  1. #1

    Default Discussion of converting Kitco pool holdings to physical metal

    https://youtu.be/VDxhU_TKv4c?t=828


    Can any member confirm?
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?

  2. #2

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    There have been reports for weeks now of Perth Mint in Australia refusing to give silver to pool account holders, I looked here but there is no news about this on the forum, and now I am hearing rumors that Kitco is refusing to give metal to its pool account holders. What exactly is going on in the silver market these days?
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?

  3. #3

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    The reason we are all here.... If you can't hold it, you don't "own" it.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  4. #4

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    Quote Originally Posted by Agbug View Post
    There have been reports for weeks now of Perth Mint in Australia refusing to give silver to pool account holders, I looked here but there is no news about this on the forum, and now I am hearing rumors that Kitco is refusing to give metal to its pool account holders. What exactly is going on in the silver market these days?
    A bunch of paper silver holders want their metal it seems. GL!

  5. #5

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    Quote Originally Posted by t00nces2 View Post
    The reason we are all here.... If you can't hold it, you don't "own" it.

    Amen to that!






    .
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?

  6. #6
    Join Date
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    Default

    Quote Originally Posted by Agbug View Post
    There have been reports for weeks now of Perth Mint in Australia refusing to give silver to pool account holders, I looked here but there is no news about this on the forum, and now I am hearing rumors that Kitco is refusing to give metal to its pool account holders. What exactly is going on in the silver market these days?
    I must admit, I never thought much about this when I partook in the Kitco pool. Is that how the "pool" is "supposed" to work? You buy into the silver pool with....(what?)...cash and you get paid back in silver? And now they refuse to pay? I think I'm confused but I'm not sure.
    Who are the righteous? ....Markpti

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  7. #7

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    Quote Originally Posted by Markpti View Post
    I must admit, I never thought much about this when I partook in the Kitco pool. Is that how the "pool" is "supposed" to work? You buy into the silver pool with....(what?)...cash and you get paid back in silver? And now they refuse to pay? I think I'm confused but I'm not sure.
    I've never bought any paper silver, but i am pretty sure the way the pool accounts are SUPPOSED to work is you accumulate shares of the pool, and Kitco, Perth Mint, etc are supposed to keep enough silver set aside to cover all the shares of the pool account, then when you are ready you pay a premium and convert it to physical silver which they ship to you.

    I think the way it is ACTUALLY working is that they are selling pool shares but not keeping the physical silver to cover them, and when people demand the physical they are being told to piss off.






    .
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?

  8. #8

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    Quote Originally Posted by Agbug View Post
    I've never bought any paper silver, but i am pretty sure the way the pool accounts are SUPPOSED to work is you accumulate shares of the pool, and Kitco, Perth Mint, etc are supposed to keep enough silver set aside to cover all the shares of the pool account, then when you are ready you pay a premium and convert it to physical silver which they ship to you.

    I think the way it is ACTUALLY working is that they are selling pool shares but not keeping the physical silver to cover them, and when people demand the physical they are being told to piss off.






    .
    When i bought into the kitco pool unallocated pool account the premium was less than buying physical for immediate delivery. When I decided to sell I had a choice to just take a check or to pay the extra premium and fabricating and shipping and forced insurance for whatever type of physical I wanted to receive. I guess if they dont have the silver to send then you have no choice but to take the money. and yes, in this aparent global shortage of deliverable physical silver, a lot of people are and will be in that same boat. Yea forex! Wall street and the paper pusher crooks. Regarding kitco pool, I never had any issue with our host and their logistics either buying or selling to or buying from them.

  9. #9

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    I think we will find folks sold paper silver hundreds of times over and never bought a real oz. so the price never moved. I don't know if anybody has been told to piss off, just we can't give you silver right now. lol.

  10. #10

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    Quote Originally Posted by maxwellsilverhammer View Post
    When i bought into the kitco pool unallocated pool account the premium was less than buying physical for immediate delivery. When I decided to sell I had a choice to just take a check or to pay the extra premium and fabricating and shipping and forced insurance for whatever type of physical I wanted to receive. I guess if they dont have the silver to send then you have no choice but to take the money. and yes, in this aparent global shortage of deliverable physical silver, a lot of people are and will be in that same boat. Yea forex! Wall street and the paper pusher crooks. Regarding kitco pool, I never had any issue with our host and their logistics either buying or selling to or buying from them.

    So to be clear about what you are saying in the bolded text, you have a pool account, and you have recently tried to take delivery and were successful? Or are you just saying that in the past you have bought and sold physical silver to them with no problems? I want to hear from someone who has a pool account and has in the past few days, asked for delivery.

    Perth Mint is defaulting on their pool account holders, as is as ABC Bullion of Australia, and I am trying to get to the bottom of weather or not Kitco has joined in the fun. ABC Bullion was also recently caught charging storage fees for bullion it did not possess, according to posts on reddit.
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.

    For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?

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