About Perth Mint Bullion Blog

This blog discusses The Perth Mint's bullion coins and bars, providing information about our latest designs, mintages, sales volumes and sell outs. On a broader front, we share relevant research and opinions for anyone interested in gold and silver bullion investing.

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Win a gold nugget from Gold Industry Group

The Gold Industry Group (GIG) is running a competition to win a natural gold nugget.

Under the chairmanship of Perth Mint CEO Richard Hayes, the GIG represents the interests of gold producers, explorers, prospectors and service providers to provide a unified voice for the industry and promote gold across Australia and beyond.

To enter the competition, all you need to do is sign up for the GIG’s bimonthly community newsletter, ‘Gold News’. Simply visit http://www.goldindustrygroup.com.au/win/ and enter your name and email address.

First prize is “The Ramelius Gold Nugget”, valued at $500.


 

Worth $150, second prize is a tour of The Perth Mint for six people, including the opportunity to see the world’s largest coin made from one tonne of pure gold and a spectacular gold pouring demonstration.

The competition is open until 28 October 2016. Winners will be drawn randomly and announced in Gold News on 1 November 2016.

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The Perth Mint provides unique reassurances for precious metals storage clients

Topics [ buy gold online buy silver online depository depository online ]

The Perth Mint has been storing precious metals for domestic and overseas customers since the 1980s. As the number of customers expanded, we formalised this activity into the Perth Mint depository division during the mid-1990s.

Our business mission is to provide one of the world's safest locations for precious metal storage for those that wish to own, but not take delivery of gold, silver and platinum – thereby removing their security concerns. 

With more than $3 billion worth of investors’ metal now under management, our depository’s success in this area means it has been chosen by around 30,000 clients from over 100 countries to keep their precious metal assets safe and secure.

 

Among the reasons why so many have invested their confidence in our depository is The Perth Mint’s preeminent position in the precious metal industry.

A global leader in precious metals

The Perth Mint is a world-leading fully integrated precious metals business. With our reputation built on more than a century of refining and minting excellence, the mark of The Perth Mint stands as an irrefutable seal of quality and assurance.

As the operator of Australia’s only gold and silver refinery accredited by the London Bullion Market Association (LBMA), we refine almost all of the gold recovered at Australian mine sites, as well as producing a substantial amount of refined silver.

In addition to producing benchmark good delivery bars and a wide range of retail investment bars, we’ve made almost 51 million bullion and numismatic coins over the past 30 years, which have a reputation for quality second to none.

We are Western Australia’s seventh largest exporter and a financially healthy organisation with an annual turnover of more than $9 billion.

Exceptional security

As a working refinery and mint, we directly operate a number of vaults. Our vaults are Category 11 and meet AUS/NZ Standards 3809, each with specifications that have been vetted by our underwriters.

Sites are monitored and recorded 24-hours per day with recordings retained. Access to and within our facilities are controlled electronically from a Class 1 Security Control Room. Our specialist Security Officers constantly monitor for external threats, and work closely with the Gold Stealing Detection Unit at the West Australian Police Service.

Additionally, our risk management team ensures compliance with an impressive level of procedural security for receiving, releasing and accounting for precious metal.

Unique government guarantee

The Perth Mint is wholly owned by the government of Western Australia, Australia’s largest resource-rich state. To manage the Mint on a commercial basis, it created Gold Corporation under a Western Australian Act of Parliament in 1987. As a specific comfort for individuals dealing with the Mint, especially those with precious metal on deposit, a government guarantee was included in the Gold Corporation Act, which is enshrined within Section 22:

“The payment of the cash equivalent of gold due, payable and deliverable by Gold Corporation, the Mint or GoldCorp under this Act and all moneys due and payable by Gold Corporation ...  is guaranteed by the Treasurer, in the name and on behalf of the Crown in right of the State."

It includes the explanation that a "reference in this Act to gold shall be construed as including a reference to silver, other precious metals…” so you can be completely confident that the government guarantee covers all of your precious metal holdings in The Perth Mint's depository facility.

Providing an exceptional level reassurance for all clients, our government guarantee is unique in this sector.

Other important considerations

When making your decision where to store precious metals, the benefits of choosing The Perth Mint also include our:

Focus on the customer

At the heart of the Mint’s ethos lies the desire to delight our customers. As a result, we are strongly committed to customer service, resourcing an in-house call centre operated by specialist personnel, as well as online help and support facilities. We have a formal Complaints Policy embodying our commitment to the efficient and fair resolution of complaints in a speedy and courteous manner. And to further demonstrate our openness and accountability, we have an active presence on popular social media platforms where we publicly answer questions and provide further information in a timely fashion.

Location

In an environment of increasing global, financial and corporate risk, holding precious metal in Perth is a sensible choice because of its geographical isolation and stable political and economic environment.

Corporate governance

As a government-owned institution, we are subject to rigorous corporate governance and control, including the presence of a government representative on the board of Gold Corporation, and an annual audit undertaken by a major accounting firm on behalf of the State Auditor General, an appointment of the Western Australian Governor.

Multiple storage options

The world class facilities of our depository provides multiple storage options, including the Depository Program, and most recently our Depository Online web trading portal, which is designed for investors who want to be able to react quickly 24-hours a day to the dynamic precious metals markets.

Fully-backed client holdings

And finally, it’s important to note that we buy precious metal when you buy from us and sell when you sell to us on a 1:1 basis. This ensures that all metal held on your behalf is 100% backed. Allocated precious metal holders are eligible to inspect or collect their precious metal, while Unallocated and Pool allocated holders may rely on the Mint's audited Annual Reports.



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Perth Mint CEO to headline precious metals investment symposium

Topics [ gold market gold investment ]

The Perth Mint’s Chief Executive Officer, Richard Hayes, a precious metals industry expert, will headline a key group of speakers at the 7th Annual Precious Metals Investment Symposium, being held in Sydney in October.

A thought leader on the global precious metals market, Mr Hayes will share his knowledge and unique insights into the industry at the two-day event. He will also discuss the ‘case for gold’ and investing long-term in precious metals to build wealth and reduce risk.


Perth Mint Chief Executive Officer, Richard Hayes.

Symposium conference organiser, Kerry Stevenson, said, “As the leader of one of the world’s most prestigious precious metals businesses, we are delighted that Mr Hayes will kick off the Symposium.”

“Richard has a vast knowledge of the precious metals industry and I have no doubt delegates will be left both impressed and delighted,” she said.

Since taking the reins at The Perth Mint in July 2015, Mr Hayes and a new executive team have devised a business strategy to position the organisation as a global leader in the precious metals industry.

Mr Hayes is bullish about precious metals. “There is much to learn from the fortunes and misfortunes of others when it comes to investing in an asset of true value – gold,” said Mr Hayes.

Mr Hayes is currently the Chairman of the Gold Industry Group. With a finance and economics background, he has 30 years’ experience in the investment and precious metals sector. He joined Gold Corporation (trading as The Perth Mint) in 2003 as Chief Financial Officer and Deputy CEO, and previously held senior positions with AGR Matthey and Golden West Refining Corporation Ltd. 

With a theme of Investing for Real Wealth in a Volatile Global Market, this year’s forum will provide an opportunity for Australia’s business leaders and investors to come together to engage and network in one of Australia’s most important sectors.

The Precious Metals Investment Symposium will be held at  Four Points by Sheraton, Sydney Darling Harbour on Monday 10 and Tuesday 11 October 2016.

Mr Hayes will deliver his keynote address at 9am on Monday 10 October 2016.

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What makes The Perth Mint a global leader in precious metals?

Topics [ buy gold online buy silver online ]

The Perth Mint is Australia’s largest fully integrated, innovative precious metals enterprise.

We belong to an elite group of gold and silver refiners around the world who are trusted implicitly to meet the highest of standards.

As Australia’s only gold and silver refinery accredited by the London Bullion Market Association (LBMA), we refine almost all of the gold recovered at Australian mine sites, as well as producing a substantial amount of refined silver.

Last year alone, our refinery processed almost 34 million ounces of gold and silver, bringing the total for the last three decades to more than 6,500 tonnes.

We ship 400oz gold and 1,000oz silver good delivery bars to London, and are the dominant supplier of value-added gold cast bars to China and India, the world’s leading consumers. We’re also renowned for our range of small investment cast bars, which are supplied into various local and overseas markets.


With between 300 and 400 tonnes of precious metals typically processed each year, our refining facility enjoys an international reputation for quality and efficiency.

Since being established in 1899 to make sovereigns, The Perth Mint has amassed vast experience in the manufacture of high quality precious metal coins. Today we produce an extensive range of sought-after gold, silver and platinum bullion coins and gold minted bars for investors.

Last year we sold $1.3 billion worth of minted product worldwide, representing more than 16 million coins and bars. During the past 30 years, we’ve made almost 51 million bullion and numismatic coins, adding value to nearly 270 tonnes of gold and more than 3,000 tonnes of silver.

For investors looking for the reassurance of safe storage, our depository offers a choice of secure precious metal investment solutions. With more than $3 billion worth of investors’ metal under management, making it bigger than many high street financial institutions, our depository has been chosen by around 30,000 clients from over 100 countries to keep their precious metal assets safe and secure.

When it comes to trust, quality and service, here’s why you can rely on The Perth Mint

For more than 100 years, The Perth Mint has been a trusted supplier of precious metal products and services, respected for our quality, security, efficiency and technical expertise.

Our dynamic operation maintains its global standing by upholding the core values of excellence, ethics, and equity, underpinned by an uncompromising focus on the customer and cost efficiency.

As well as being accredited as a refiner, weight master and assayer by the LBMA, we’ve achieved similar endorsements from the New York Commodity Exchange, Shanghai Gold Exchange, Dubai Metal & Commodities Centre, and Tokyo Commodities Exchange. As a result, the quality of our precious metal products is accepted without question in commodities markets and by consumers alike.

Our bullion coin range is manufactured under the authority of the Australian government. Each coin is issued as official Australian legal tender, its guarantee of weight and purity. And thanks to their superb ‘reverse proof’ finish, our Australian Kangaroo, Kookaburra, Koala and Platypus series have the reputation of being the highest quality bullion coins in the world.


Australian Kangraoo bullion coins made from 99.99% pure gold.

Investment cast bars, stamped with The Perth Mint ‘swan’ logo – our official LBMA registered mark – are equally trusted and internationally tradeable.

Satisfying investors’ demands for safe storage, our depository vaults meet international security standards and are monitored 24-hours a day. But when choosing where to store precious metals, The Perth Mint offers clients an unprecedented additional safeguard – something unique in this sector – in the form of a government guarantee.

We are wholly-owned by the government of Western Australia, which acquired the assets of the Perth Mint from Britain’s Royal Mint in 1970. To manage the Mint on a commercial basis, it created Gold Corporation under a Western Australian Act of Parliament in 1987. Our government guarantee, which applies to precious metals for physical delivery as well as storage with the depository, is included in the Gold Corporation Act 1987, Section 22, which states:

“The payment of the cash equivalent of gold due, payable and deliverable by Gold Corporation, the Mint or GoldCorp under this Act and all moneys due and payable by Gold Corporation ...  is guaranteed by the Treasurer, in the name and on behalf of the Crown in right of the State."

The Perth Mint is a financially strong organisation, and like any prudent individual, we insure our physical metals. While there’s never been any question about our ability to deliver in over a century of operations, the extra protective layer of a guarantee from the government of one of Australia's wealthiest states provides an exceptional level of reassurance for all our clients.

As we go forward, we’re continually striving to develop effective new solutions and to further improve customer focus through careful attention to our product quality and design, security, communications and client service. With this in mind, we’re almost ready to unveil an exciting new development concerning our innovative Depository Online precious metal trading web portal – and look forward to bringing you the exciting news in the very near future.

The Perth Mint genuinely is a global leader in precious metals.

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Year of the Rooster bullion coins available from today

Topics [ buy gold coins Australian Lunar Year of the Rooster buy silver coins ]

Magnificent Year of the Rooster gold and silver bullion coins are available from today. Immaculately struck from 99.99% pure gold and 99.99% pure silver, these high quality ‘reverse proofs’ celebrate the tenth animal of the Chinese lunar calendar. Offered in a comprehensive range of weights and issued as Australian legal tender, the coins feature superbly-styled portrayals of the rooster in his domain.

Like previous annual releases from the Australian Lunar Coin Series II, no more than 30,000 1oz gold coins and 300,000 1oz silver coins will be released. With a track record of sell outs since the start of the series in 2008, buyers are urged to act as soon as possible to acquire these highly sought-after denominations.

More information at perthmintbullion.com



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Monthly Sales – August 2016

Topics [ buy gold coins buy silver coins ]

Total ounces of gold and silver sold by The Perth Mint in August 2016 as coins and minted bars.

  - Gold (Au): 14,684 oz

  - Silver (Ag): 376,461 oz

This chart shows total monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.

A decline in sales of Australian precious metal minted products for physical delivery in August reflected the trend for lower volumes reported by precious metal businesses worldwide.



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