There are just five MAJOR bullion mints – in the U.S., Canada, South Africa, Austria, and Australia. I have never been certain why they are deemed more “trustworthy” than private mints – given governments’ sorrowful history with TRUTH; however, not a single counterfeit coin has EVER been sourced from these mints.
That said, long-time readers know my emphasis between the TRUTH of PHYSICAL PMs, and the LIES of PAPER markets. With essentially ZERO exceptions, if you purchase a “promise” to deliver gold and silver, there is a good chance you’ll NEVER see it. Thus, the quandary of Perth Mint Certificates; i.e., ‘certificates of ownership’ of gold stored in Perth Mint vaults.
In many ways, the Perth Mint program mirrors Miles Franklin’s storage program in Montreal, Canada. In other words, you are given a certificate stating you are the owner of Precious Metals stored in their vault. However, given Perth’s long distance from the Western world – and lack of a personal connection between your metal and the Perth Mint (Miles Franklin officers personally audit the Montreal vault each quarter) – it is difficult to ascertain if Perth mint held metal exists.
Hence, the issue with third party storage in general; that is, unless you are 100% SURE your metal is REAL – and FULLY SEGREGATED – there is a chance you are being conned. No one is more paranoid than myself; and thus, per last week’s “BREAKING NEWS” of my moving my PMs to Montreal, I am 100% SURE.
As for Perth, there is NO WAY of being sure. Moreover, my good friend Jason Hommel – one of the world’s pre-eminent silver experts; and a true, “good smart guy” of the PM world – believes the Perth Mint Certificate program may actually be fraudulent…
I do not have enough information to pass judgment on the Perth Mint Certificate program. However, I do know there is NO CHANCE I would entrust my capital to it; and if I had, I would rapidly attempt to retrieve it.
For those harboring the same worries, Miles Franklin may be able to help; as the same worldwide, ubiquitous security company that manages our Canadian storage program – Brinks – has a branch in Australia as well.
Thus, if you are interested in converting PAPER Perth Mint Certificates to PHYSICAL gold bars – and subsequently shipping them to our Montreal facility – we can facilitate the transaction.
Perth Mint bars are 24 karat gold, and thus qualify to be shipped to our Canadian facility without incurring VAT taxes. Moreover, as an “in-kind” transaction, the conversion from PAPER certificates to PHYSICAL bars is NOT considered a taxable event.
The only incremental cost you will incur is shipping costs from Perth to Montreal – via Brinks – as storage fees are unlikely to materially change. Unless, of course, you are currently holding an “unsegregated” account, which Perth does not charge storage fees on; wherein, you have no personal claim to any SPECIFIC gold.
As the world becomes a more dangerous place – and governments less trustworthy – the decision to hold “PAPER PMs” under flimsy agreements will entail more and more risk. We believe our Montreal program alleviates essentially ALL such risks, and are happy to answer any questions you have about such transfers.
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.