Perth Mint Certificates
Who is the Perth Mint
The Perth Mint of Western Australia, originally a branch of the British Royal Mint, was established in 1899.
In 1970 ownership of the Perth Mint transitioned to the State Government of Western Australia. In 1988, the Perth Mint’s current parent company Gold Corporation was established as a statutory authority of the Western Australian Government via the Gold Corporation Act of 1987. The Perth Mint refines most of Australia’s gold bullion and produces legal tender coins and is a renowned expert in the area of coin design and production.
The Perth Mint runs the Perth Mint Certificate Program (PMCP) which offers clients allocated, pool allocated and unallocated precious metals storage vaulting options at the Perth Mint’s minting and refining premises. The certificate programme is fully guaranteed by the Government of Western Australia which is one of the wealthiest states in the world, and is the only Government Guaranteed certificate program in the world.
The Perth Mint authorises a small number of Approved Dealers globally for the PMCP, one of which is Dublin based GoldCore. In fact, GoldCore is the only authorised dealer of the PMCP in the UK and the entire European Union.
How can I buy Perth Mint Certificates
Acquiring precious metals through the Perth Mint Certificate Programme is straightforward. In order to purchase Perth Mint Certificates you simply need to open up an account with GoldCore.com and follow the associated instructions.
Once you have an account opened you will be prompted to fund your account. Once funds have been credited to your account you will be able to place orders online via goldcore.com or via the telephone by phoning our Dublin office on 01 6325010.
How can I sell Perth Mint Certificates
Selling precious metals holdings via the Perth Mint Certificate Programme is straightforward also. At the time you wish to sell all or a part of your holding, you should do the following:
Send the Perth Mint certificate that you wish to liquidate in to our Dublin office. On the reverse side of the Certificate you need to complete the Transfer Section.
For clarity, please phone our office for instructions on completion before sending. You will need to include a letter detailing your trade instructions, your bank account details and your signature. We will then confirm the details of the sale with you. You can part-liquidate your position too.
Once you have stored your certificate with us we will register your gold as an asset on our system, you will be able to see your holding on-line, and you will be able to sell your holding by logging into your account and requesting a sale of your asset.
We may request identity documents depending if you have been a customer of ours before. Please call our office for more details.
How do I open an account?
Register online at www.goldcore.com
Call to speak to an advisor at 01 632 5010
Arrange an appointment at our Dublin offices
What Documents do I need?
In order to open an account you must provide the following documents along with your application form.
Copy of photographic id and other id such as birth certificate
Copy of recent proof of address in the form of a utility bill or driving license
Please send these documents to the address below:
What are Certified Copies and who can certify them?
Certification of documents can be carried out by a member of GoldCore staff by appointment, or by the Gardai, your bank or building society manager, a chartered or certified public accountant, notaries public or practising solicitor or a manager with the Post Office or embassy or consulate staff.
The persons who is certifying the documents must have seen the original documents and stamp as follows using a company stamp
Write the following statement on the photocopy
“This is a true copy of the original documents sighted by me”
Sign and print their name
Provide an address and a contact telephone number
State their profession or occupation
Affix an official stamp or seal if applicable
In addition if the certifying officer is a Justice of the peace the certifying officer must
List registration number
How do I transfer Funds?
The most convenient and fastest is a bank transfer to our dollar and multi currency client accounts. Once your account is open we will then send you bank details in order to transfer your funds to GoldCore.
What happens after I transfer funds?
Upon receipt of funds we will contact you to confirm the details of your intended purchase. With your permission we will then place your order on the international bullion markets. You will receive your confirmation the following morning detailing the execution price and the amount of precious metal purchased. Your certificate will be sent to you 9-12 business days later.
How do I Sell?
When the time comes to sell all or part of your holding please call us and we will send you a liquidation form. Alternatively you can have this form sent to you after buying so that you have it in case you need to sell in a short period of time. You will need to send this form to us along with the certificate that you wish to liquidate with the reverse side of the certificate signed in the Transfer Section.
GoldCore charge 1.5% on all Perth Mint Certificate sales transactions.
Upon receipt of your certificates and accompanying documentation we will call you to confirm the specifics of your trade. When you give us permission we will carry out your sale. This will take one day to complete. You will receive your confirmation the following morning. Funds will be wired to your bank account within 8 business days.
What is the Cost Perth Mint Certificate Gold and Pooled Silver?
Please see below our indicative breakdown of premium discounts on orders placed
€10,000 to €20,000 – 3.9%
€20,000 to €29,999– 3.6%
€30,000 to €39,999– 3.4%
€40,000 to €49,999- 3.2%
€50,000 to €59,999 – 3%
€60,000 to €69,999– 2.8%
€70,000 to €79,999 – 2.6%
€80,000 to €89,999 – 2.4%
€90,000 to €99,999– 2.2%
€100,000 – 2%
€100,000+ – <2%
Can I take delivery of Perth Mint Certificate metal?
Yes. The Perth Mint will allow you to convert your unallocated metal holding into an allocated metal holding.
There are fabrication fees applicable for the various different formats of metal since you are exchanging the Perth Mint’s inventory metal for finished product allocated metal.
You must choose the intended storage location. The Perth Mint will store the metal for you or you may have it shipped to a different location such as your home or a different storage provider. Contact a Gold Core Representative for more information on cost and options available to you.
What if I want to buy one week and sell the next, can I use the Perth Mint?
Yes you can, although it probably would not be the most economical way to trade. There are other means of speculating on the gold markets that are far more advantageous from a trading cost and tax perspective. Call our office and we will run you through all the options. The Perth Mint is more suitable to long-term holders of precious metals. On that basis it is one of the better options.
How does the Perth Mint Programme compare with on-line gold trading systems or the Exchange Traded Fund that trades in the stock market?
Exchange Traded Funds are a great way to buy gold via the stock market. They can be expensive, since they can charge 0.40% a year to hold and manage your position. Because of the charges we believe that this method is best suited to short term speculators rather than long term holders of gold.
Gold trading systems also offer great flexibility to speculators, allowing them to enter and exit the market on a whim at low cost and own paper and electronic gold. The hidden costs of such systems should be studied carefully as well as the ownership structure of the providers. Investors should ask – whom do I have risk to, what happens to my investment if the company goes bust or disappears, what liabilities does the service provider incur and can they manage them?
Does the Perth Mint have Insurance?
The Perth Mint is fully insured by specialist insurers. In addition it is fully owned and guaranteed by the Government of Western Australia.
Does the Perth Mint offer allocated storage?
Yes. The cost of allocated storage is 1.5% for gold per annum, and 2.5% per annum for silver. You will also have to pay fabrication costs, depending on the format of products that you choose. Please call us for more details.
Should I opt for allocated or unallocated?
Allocated accounts are suitable for those individuals who may wish to take delivery of their bullion or are concerned about systemic risk and confiscation. Unallocated accounts are free of storage charges. You can always keep your bullion in an unallocated account and then switch to an allocated account should circumstance warrant it.
How secure is the Perth Mint Certificate Programme?
The Perth Mint Certificate Program is very secure. The Perth Mint is owned by the Western Australian Government. It is fully backed by the tax payers of Western Australia, one of the wealthiest states in Australia. The Western Australian government enjoys one of the highest credit ratings in the world from international credit rating agencies.
Learn more about Western Australia’s government: http://www.wa.gov.au/
Who can open a PMCP account?
An account can be opened in any one of the following entities:
- Registered Co‐operatives
- Government Bodies
In whose name can a certificate be issued?
Gold certificates issued by the Perth Mint are legal documents, with unique certificate numbers, reflecting legal ownership of metal by the certificate owner where the metal is stored in the Perth Mint’s vaulting facility in Perth. For example, when issued to a pension trust, the gold certificates are issued in the name of the pension fund and registered to the pensioneer trustee.