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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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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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