WhereIsMySilver
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Problem
A silver or gold token is only as good as your ability to turn it into metal. What is reported about Kinesis KAG and KAU redemptions, and what to check.
Tokenized metal promises two things at once: ownership of physical silver or gold, and the speed of a digital asset. The promise rests on one process, redemption. If you cannot exchange the token for bars within a reasonable time, you hold a claim, not metal.
How Kinesis KAG and KAU redemption is supposed to work
Kinesis describes KAG as backed by physical silver and KAU as backed by physical gold, held in vaults. A holder can ask to redeem tokens for bars, delivered or held in a vault. The request leads to a fee quote, a choice of bar formats, and a delivery date. Each step depends on the provider. If one step stalls, the redemption stalls.
Kinesis redemption delay: what is reported
In 2026, Trustpilot reviewers report silver and gold redemptions delayed by six weeks or more. In both cases documented on this site, KAG redemptions requested on 30 October and 2 November 2026 had no confirmed delivery date and no fee quote by 6 November 2026. The silver tokens were still in the account.
Allocated or unallocated: questions to ask Kinesis
Allocated metal means specific bars are held for customers and recorded as theirs. Unallocated means the provider owes you metal from a general pool. Ask in writing which one applies, how the holdings are audited, and when the latest audit was published.
Questions to ask before you redeem KAG or KAU
Which vault holds the metal, and which operator runs it?
Is the metal held in bond, free of import tax?
Which bar formats are available, and are they in stock?
What are the fees, and when will you receive a written quote?
What is the expected delivery date, and what happens if it is missed?
Counterparty risk with Kinesis and other tokenized metal
Even with allocated metal, you depend on the provider to process your request, and on its banks for fiat payments. Spread your risk, keep your own records, and test redemption with a small amount before you rely on it for a large holding.
This article is general information, not legal or financial advice. Reports from other customers are summarised as reported, not verified by this site.
