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FAQ
The
Perth Mint Certificate Program
Q. Who is The Perth Mint?
The Perth Mint has operated since 1899 and was established to turn the gold from the Western Australian gold rush into sovereigns for the British Empire. The Mint is a division of Gold Corporation and is wholly owned by the Western Australian Government. The Perth Mint has a formidable reputation as a leader in international precious metal investment.
Q. Why should I store my gold in Perth?
Situated on one of the most politically and economically stable continents, Perth offers one of the most secure locations for hard asset storage world-wide. All precious metal at the Mint is insured by Lloyds of London.
Q. So what is it going to cost me to invest in the program?
This is a quality investment and is completely transparent. For the purchase of precious metal there is a 1.75% service fee and a $10 Certificate Administrative Fee, and for the sale of precious metal the service fee is reduced to .75%. The service fees are simply added on to the price of the metal you purchase. E.g if you buy gold at AUD 800, when you add the service fee you are buying it at AUD 814. The Perth Mint also charges a fee of 0.25% on the metal of all buy and sell trades paid by cash.
Q. What precious metals can I acquire under the Perth Mint Certificate Program?
You can invest in Gold & Silver. Although the Perth Mint does vault Palladium it is not available with the Perth Mint Certificate Program due to its omission from Australian Precious Metal Taxation exclusion legislation.
Registration in the Scheme
Q. When I register with you what forms of identification are acceptable?
Various forms of identification are acceptable. Typically a copy of your Passport Bio Data Page or Birth Certificate as well as a copy of yours Drivers Photo Drivers Licence would suffice. The ID you provide must be in accordance with the “Reference from an Acceptable Referee” form. Further details of this safeguard.
Q. Do the original ID & Registration forms need to be sent?
Yes, the originals do have to be sent to us. However to speed up the process of setting up your account you can e – mail or fax them to us, before mailing the original copy to us.
Q. Where do I send my ID and Registration forms?
Click here for details on where to send your ID and Registration forms.
Q. Can a Perth Mint Certificate be held either individually or jointly?
Yes, either is fine. For each applicant validation of Identification is required upon registration in the scheme.
Q. Can a Perth Mint Certificate be issued to a trust, partnership or corporation?
Yes, we can arrange this for you. Just provide certified (notarized) copies of the entity’s certificate of incorporation or registration and its authorised signatories.
Q. What is the minimum precious metal purchase?
Entry to the Perth Mint Certificate Program requires a low minimum investment of AUD 5,000. This amount can be held in multiple Perth Mint Certificates.
Acquiring Gold Certificates
Q. My Account is set
up, where should I send my money?
Click here for details on where you should send your investment money.
Q. My money is in
the account, who do I now speak to, to purchase my
precious metal?
Either E - mail or call us, and we will complete your trade with the Perth Mint.
Q. Can I make a subsequent purchase of Gold, and what is the minimum I can buy?
For subsequent purchases on your Perth Mint Account the minimum amount is AUD 5,000.
Q. I don’t fully understand the difference between Unallocated and Allocated storage, please explain.
Unallocated storage is a means for you to benefit from incurring no fabrication or storage costs. You invest in a pool of precious metal stored on an unsegmented (unsegregated) basis. If you would like to see your precious metal it would take ten working days’ notice.
Allocated storage is an option whereby your precious metal products are stored separately in a safe deposit box. There are fabrication and annual storage fees charged for allocated storage. You are able to see your precious metal within two working days’ notice.
Q. What is the difference between Allocated Coins & Bars and Unallocated Bullion?
If you want to purchase allocated coins & bars, you pay the quoted fabrication charges at the time of purchase, in addition to the 1st year storage costs (% per metal). In the case of a purchase of unallocated bullion, you only have title to precious metal, as it is an unfabricated form. If delivery is required, you will need to pay fabrication charges.
Q. Can I buy a mix of Gold and Silver on a single certificate?
No, only one of Gold or Silver can be included on a single certificate, though you may acquire multiple certificates of Silver and Gold.
Q. Are there any taxes associated with holding precious metals or with taking delivery of precious metals in Australia?
There are no Australian taxes or duties levied on the import, export or domestic purchase and sale of precious metals in Australia. You should consult your taxation advisor for specific taxation advice in your jurisdiction.
Q. Is there a limit on the amount of precious metal I can acquire?
No, there is no limit on product quantity.
Q. There are quite a few options for precious metal, what is the most popular option and why?
The majority of our clients never intend to take physical delivery of the Precious Metal and so prefer to invest in unallocated bullion as there is no storage or fabrication costs incurred.
Maintaining my Gold Certificates
Q. Can I part-sell my Certificates and what is the minimum I can sell back?
You can sell back AUD 5,000 or more against your certificate(s) providing your minimum balance of precious metals held in certificate(s) is AUD 5,000. The Perth Mint will issue you directly with a new certificate indicating your reduced holding at a cost of AUD 10 for a new certificate.
Q. Can I liquidate my certificate(s)?
Your Perth Mint Certificate is extremely easy to liquidate. Just complete the “To be completed by Owner” section of the Transfer block on the reverse of the Certificate, inserting PCMG Pty. Ltd name as the Transferee, and mail the Certificate to us, once verified with the Perth Mint we will forward the funds to you. Alternatively, you can take physical delivery at the Perth Mint or arrange for delivery.
Q. Can you help me transfer my Certificate to a 3rd Party? [From asset strategy site]
Perth Mint Certificates can be transferred directly to third parties. PCMG Pty. Ltd. can facilitate the process and ensure it proceeds smoothly. When The Perth Mint receives the correctly transferred Certificate and other documentation, it shall invoice the Transferee for any storage fees due and a new Certificate fee. After payment of these fees, The Perth Mint shall enter the name of the Transferee on its register and issue a new Certificate to the Transferee.
Q. If I wished, can I arrange collection or delivery of precious metal held on my Mint Certificate?
Yes, the Perth Mint requires ten business days’ notice for collecting ‘Unallocated holdings’ and two business days’ notice for ‘Allocated holdings.’ Depending on the type of storage you originally selected and the method of delivery, outstanding storage fees, fabrication charges, delivery fees or Certificate fees may be payable. PCMG Pty. Ltd. can facilitate the process and ensure it proceeds smoothly.
Q. What happens if I loose my Certificate?
Contact us for assistance; we provide you an application form for replacement certificates. Once the Perth Mint has verified your identify and received a Certificate Fee your lost certificate(s) are cancelled and new certificate(s) issued.
Glossary of Terms
Bullion: Also referred to as bars, wafers or ingots and the terms can be used interchangeably. This is a form of precious metals produced by a refinery. The bullion bars will generally have a stamped Hallmark, Weight, Fineness and Serial number.
Bullion Coin: A legal tender coin whose market price depends on its precious metal content.
Legal Tender: The coin or currency which the national monetary authority declares to be universally acceptable as a medium of exchange.
Fineness: The quantity of pure precious metals (e.g. gold, silver or platinum) contained in 1,000 parts of an alloy.
Kilo Bar: A bar weighing one kilogram is equivalent to approximately 32.150 troy ounces.
Troy Ounce: a unit of weight, equal to about 1.1 ordinary ounces. The word ounce when applied to precious metals refers to a troy ounce.
PMCP: The Perth Mint Certificate Program.
Decimal Bullion: Bullion in Decimal Weight System, e.g. ‘Kilo Bar.’.
Legal Entity: where the registered owner is a corporation or other legal entity such as a limited liability company or a trust, the names of the people who have authority to sign on behalf of the entity are needed to complete the application. You must provide at least one name and sample signature.
Person: if the registered owner is a person, that person will be included as a signing authority with the ability to sell or transfer the certificates. You may choose to have an additional signing authority as well. When more than one person have this authority to sign the certificate, you will be asked whether all signatures (‘joint’ option) will be needed to trade or transfer, or any of them (‘individual’ option).
Registered Owner: the person or entity whose name appears on the Perth Mint Certificate. They hold legal title to the precious metals described on the certificate. The registered owner always has the ability to sell or transfer the certificates.
Signing Authority: the individual(s) whose signature is required to sell or transfer the certificates. It is possible to add or remove a ‘Operating Authority’ after registration is completed. If you might wish to collect the precious metals from the Perth Mint we also recommend you provide personal identification documents for the authorised signatories.
Additional Signing Authority: For additional signing authorities you will also be asked whether all signatures (‘joint’ option) will be needed to trade or transfer, or any of them (‘individual’ option). When you sign and return the application form to us, a sample signature of the additional signing authority may be needed.
Capacity: Your "Capacity" is simply a very brief title that explains who you are that enables you to be the person who has authority to sign over title of the certificate. Examples are Trustee, Agent, President, Treasurer, Power of Attorney, Legal Counsel etc.
Joint signatures: If all signing authorities must agree to a sale of the certificate then choose "joint.” Choosing "joint" would ensure that a sale couldn't be made without the consent of the additional signing authority (and vice versa).
Individual signature: Choosing "individual" means that either the registered owner or additional signing authority may sell or transfer the certificates. In this case the additional signing authority would be able to sell or trade the certificates without the need for written consent of the registered owner.
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