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FAQs

About The Perth Mint

Who is The Perth Mint?

Australia’s oldest operating mint was originally opened as a colonial branch of Britain’s 1,000 year-old Royal Mint.  In 1970, authority for The Perth Mint was transferred to the State of Western Australia.  Operated by Gold Corporation, which was created by an Act of State Parliament in 1987, it is the exclusive manufacturer and marketer of the Australian Federal Government’s internationally sought-after Gold and Silver Bullion Coin Program.

 

Why should I buy from The Perth Mint?

The Perth Mint is a multi-faceted precious metals business with a long history and excellent reputation for innovation, quality and service.  Hugely experienced, it has been coining precious metals since 1899; operates the largest refinery in the Southern Hemisphere; and via its Depository department, provides trusted investment program solutions to clients all over the world.  In the final analysis, however, there is no stronger assurance of the Mint’s integrity than the Government guarantee enshrined in the Gold Corporation Act 1987.

 

Are Perth Mint bullion bars and coins recognised internationally?

Yes.  Perth Mint gold and silver bullion coins are issued as legal tender under the authority of the Australian Federal Government.  Each coin, which portrays the effigy of Her Majesty Queen Elizabeth II, Queen of Australia, is denominated in terms of the Australian dollar – one of the world’s most heavily traded currencies. Every Perth Mint gold and silver bullion bar is stamped with The Perth Mint logo, its London Bullion Market Association (LBMA) registered mark –  which is also a proud symbol of the Mint’s expertise in the production of 99.99% pure gold and 99.9% pure silver.

 

Where are The Perth Mint offices?

The Perth Mint’s heritage building and modern coining facilities are situated in the heart of Perth, the capital and largest city of Western Australia.  Refinery operations are located near the Perth international airport.

 

Perth was founded in 1829 on the shores of the Swan River in the south-west corner of Australia.  Growth and development were fuelled by Western Australia’s late 19th century gold rush and the continuing commercialisation of its rich deposits of oil, gas and mineral resources. Perth is conveniently located to Australia’s two major gold mine sites – the vast open-cast pits at Kalgoorlie and Boddington.

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Investing in precious metals

Why should I invest in precious metals?

Investing in precious metals is purely a personal decision.  Some people simply love the timeless allure of pure gold and silver.  Pragmatic buyers understand the role of precious metals in a balanced investment portfolio.  One thing is certain – gold is a traditional ‘safe haven’ in times of economic and political uncertainty.  For example, during the World Financial Crisis triggered in 2007, investors seeking refuge from falling equity markets piled money into precious metals, particularly gold.  In truth, there are many reasons why people seek precious metals.  A good place to find out more about gold market fundamentals and options for buying is the World Gold Council website at www.invest.gold.org

 

Buying from The Perth Mint

How do I buy from The Perth Mint?

There are several ways to buy bullion coins and bars from The Perth Mint.

Who can buy from The Perth Mint?

Anyone - individuals, companies, superannuation and trust funds.

 

Is there a maximum and minimum order value?

Yes, under the prudential policy there are limits on the value of bullion bars and coins The Perth Mint can sell. The Perth Mint can sell up to AUD100,000 to an individual client during any single 24-hour period. 

 

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Creating an account

How do I create an account on www.perthmintbullion.com?

Every client must firstly be registered to buy.  There are three main steps involved:

  • Complete and submit the online application form.
  • Mail your copies of your certified/notarized Customer Identification Documents
  • Provide details of a credit card as a contract completion guarantee and begin buying

What customer identification documentation do I need to provide when creating an account?

Under Australian law, The Perth Mint is required to be able to appropriately identify customers of bullion products. Initially, you may submit electronically scanned versions of the certified/notarized identification documents we require. Scanned documents allow us to create your account and, on approval, for you to begin trading. However, we must also receive certified/notarized copies of the originals before The Perth Mint is permitted to ship your bullion coins and bars. Click here to view the full list of the customer identification documents.

 

Who is eligible to certify/notarize copies of my ID documents?

A certified copy means a document that has been certified as a true copy of an original document by one of the following persons.
The following individuals are eligible to certify copies of ID documents in Australia:

  • Legal practitioner (including lawyers, judges, magistrates, registrar of a court) Medical practitioner Pharmacist
  • Justice of the Peace
  • Commissioner of Declarations
  • Commissioner of Affidavits
  • Notary Public
  • Police officer
  • Member of a professional accounting body
  • Australian Consular Official
  • An authorised representative of a financial institution
  • For overseas customers, certification is acceptable from the above individuals as equivalent within the certifiers’ country of residence.

The certifying officer must:

  1. Stamp or write on the copy: “This is a true copy of the original documents sighted by me.”
  2. Sign and print their name, and affix an official stamp where applicable.
  3. State their profession or occupation group.
  4. Write on the copy the date certified

In addition, if the certifying officer is a Justice of the Peace, the certifying officer must list registration number and state/territory of registration.

    What if I am already a Perth Mint numismatic customer?

    If you are already a registered Perth Mint member for numismatic coins, you must still register to buy on www.perthmintbullion.com by completing the online application form and providing the appropriate customer certified/notarized identification documents.

     

    How will I be notified when my account is created?

    Customers will be notified by email once the customer identification documents have been verified. This should happen within 24-hours of us receiving the scanned documentation. NB We must receive and verify certified/notarized copies of your identification documents within 10 days, otherwise your order will be cancelled.  

     

    What is the “Contract Completion Guarantee” and why do I have to provide my credit card details?

    Orders must be guaranteed with the provision of a credit card when placing the order. In the event of non-completion of the terms of the Sales Contract by the client, an administration fee of $150 plus any losses incurred by The Perth Mint in the liquidation of metal held on behalf of the client will be charged to the credit card. Any gains resulting from liquidation of metal will not be remitted to the client. The credit card must be current and in the name of the client.  The credit card provided for this Guarantee is not authorised for any other charge or payment.  In the event payment is not received within 5 days of the order date, the transaction will be cancelled and the Contract Completion Guarantee activated (if applicable).

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    Buying bullion bars and coins

    What times of the day can I place an order with The Perth Mint?

    Orders for bullion will be accepted between 8.30am and 4.30pm AWST* Monday to Friday, (excluding public holidays.)  * Please note Western Australia is at least 12 hours ahead of US time zones, at most 8 hours ahead of European time zones and plus or minus 2 hours of South East Asian time zones.

     

    How is the price quoted by The Perth Mint calculated?

    Perth Mint prices are made up of the metal content at the current Perth Mint spot plus a manufacturing premium.

     

    Is a deposit required when I place my order?

    Deposits are required on orders over AUD100,000.  We require a 10% deposit in cleared funds prior to fixing the price and accepting the order. A deposit may also be required in other circumstances regardless of the order value.

     

    Are my prices locked in when I place my order?

    Yes, your prices are locked once you submit your online order and receive a confirmation of order from The Perth Mint.

     

    Does the Perth Mint offer quantity discounts?

    Yes, we offer quantity discounts and these are displayed on the website on each product page.

     

    Can I change my order after it is submitted?

    No, your order cannot be changed once it is submitted.

     

    Can I cancel my order once it is submitted?

    Once your order has been confirmed all prices are locked in. Should you wish to cancel your order you can do so by calling 1300 201 112 (between 8.30am and 4.30pm AWST). In the event of a cancellation of an order, an administration fee of $150 plus any losses incurred by The Perth Mint in the liquidation of metal held on behalf of the client will be charged to the credit card. Any gains resulting from liquidation of metal will not be remitted to the client. 

     

    How will my order be delivered?

    Orders under AUD60,000 where no single item exceeds AUD30,000 are delivered by TOLL Priority courier door-to-door with photo ID (passport or driver’s license) and signature required. Deliveries of more than AUD60,000 or where one item exceeds AUD30,000 are sent via Armaguard delivery at quoted cost or by TOLL Priority with an insurance waiver.

     

    When will my order be despatched?

    The Perth Mint will endeavour to despatch an order seven working days from receipt of full payment. In the event of high demand, delivery delays could occur. The Perth Mint accepts no liability in the event of delayed deliveries.

     

    Can I collect my order from The Perth Mint?

    No, collection from The Perth Mint is no longer available. Delivery options can be found here.

     

    Can I return my goods after I receive them?

    No, returns of bullion are not accepted.

     

    Will the Perth Mint buy my bullion back from me?

    Buy-backs are currently not possible to complete online. They can be completed over the phone or in The Perth Mint Shop.The buy-back from a client of bullion product which has yet to be delivered or paid for will not be done.  Buy-back of undelivered bullion may be undertaken only if the original sale has been paid in full with cleared funds (delay of seven working days applies).

     

    Why do 50oz, 1kg, 20oz and 10oz cast gold bullion bars contain slightly less fine gold than their gross weight indicates?

    According to the London Bullion Market Association, it is industry practice to state the weight of larger cast gold bars in terms of their gross troy oz weight. In the case of our 50oz, 1kg, 20oz and 10oz cast bars, the gross weight is comprised of the bar’s fine gold content (99.99% pure gold) and a tiny amount of impurity (silver).

     

    Example:

    To calculate the ‘fine’ weight of a Perth Mint 50 troy oz gold cast bar you can perform the following simple calculation: (weight) 50 x (fineness 99.99) = 49.995 troy oz.

     

    This figure appears in the bar’s table of Specifications in the field ‘Metal Content (Troy oz)’. Further Reading: For more information on this topic, please consult Bar Weights and Their Agreed Fine Gold Content in Troy Ounces on the London Bullion Market Association website. The ‘gross weight’ rule does not apply to other physical Perth Mint gold and silver bullion products on this website. Say you purchase a gold or silver bullion coin designated 1 troy oz, your coin actually weighs slightly more than you would expect. In each case, the minimum gross weight applies to the amount of fine gold (99.99% pure gold) or fine silver (99.9% pure silver) it contains. The excess weight constitutes a tiny impurity. 

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    Payment Methods

    What payment methods are available to me?

    • Wire transfers
    • Real Time Gross Settlement
    • Cheque or Money Order
    • BPay
    • Direct Deposit into Perth Mint Account

    Notes:

    1. All cheque types maximum value accepted $10,000.
    2. Prices will not be backdated to the time client’s funds appear in The Perth Mint’s bank account – the next working day is used.
    3. The Mint is not liable for any delays in receipt of client’s funds into its bank account or lack of notification.
    4. The Sales Order number must be quoted as a reference when depositing funds so the Mint can identify your payment and ensure that your funds are allocated correctly.

    How quickly is payment of my order required?

    Payment is required within two workings days of placing the order.

     

    What will happen if payment is not received in the required time?

    Non payment within five days will result in cancellation of the contract and recovery of costs from the client.

     

    Is there a maximum value for cheques?

    All cheque types maximum value accepted $10,000.

     

    What are The Perth Mint’s bank details?

    Please transfer the contract amount, quoting your order number.

    Please ensure that payment is made AUSTRALIAN DOLLAR (AUD) only – payment will not be accepted in any other currency.

     

    Account name:     GOLDCORP AUSTRALIA
    Bank:      WESTPAC BANKING CORPORATION
    BSB:
      036 000
    Account   810 403
     

    Customers outside Australia require the following additional bank details:

     

    Bank Identifier Code:    WPACAU2F
    Bank Address:    WESTPAC BANKING CORPORATION PERTH WA 6000 AUSTRALIA
     

     
    Does The Perth Mint accept credit cards for payment?

    No, The Perth Mint does not accept credit card payments due to the risk of accepting a fraudulent credit card.

     

    Is GST charged on my bullion orders?

    If the goods are being exported and delivery does not occur within 60 days of purchase, GST may apply and will be charged if applicable.

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    Shipping and Insurance

    What are the shipping, handling and insurance charges? Do you ship internationally?

    We currently only ship in Australia but plan to ship internationally in the near future.

     

    Will my order be insured when it is in transit to me?

    Insurance is offered to cover your goods whilst in transit up to a value of $60,000 where no single item exceeds $30,000. If one item exceeds $30,000 then you must agree to an insurance waiver. Any claims for lost goods must be made within 48 hours of despatch from The Perth Mint.

     

    Can I ship my order to an address other than that on my account?

    Yes, you can only arrange for your order to be shipped to a different address to your billing address, but it must be in the same country as your billing address.