Buying Precious Metals by Mule Train
I just had to write about my experience with Kitco Metals. Most people know them from kitco.com and a lot of very bearish gold bug investment advice. I am probably somewhat sympathetic with this point of view and often lurk upon the site. I never actually bought anything from them though. I just read the analysis and watched metals prices.
As I have been watching the evolution of cryptocurrency, I have thought the risk of holding Bitcoin was not making as much sense as it used to. I have also become a bit concerned about the growth of quantum computing making the Bitcoin value proposition obsolete. I started to think the thing to do was to convert some of the Bitcoin into physical precious metal. Kitco actually has a huge marketplace where precious metals of all types are sold, so I thought I would finally give them a try.
I went to their site and filled up my shopping cart. I went to pay but there were not as many options as I expected. A credit card charge was prohibitive and certain things would not even be sold to you with plastic. It was a wire transfer or a check. I had expected a Bitcoin option but it was not there. I got on chat with a customer service representative. I was informed they would not take Bitcoin any longer. He further informed me this had only changed a couple of weeks earlier.
