Perth Bullion Liquidation

Discussion in 'General Precious Metals Discussion' started by nighttrader, Jul 9, 2019.

  1. sctpc

    sctpc Active Member

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    I have never bought from perth mint but have a little bit of there product and the people I buy from have regularly not been able to get some types of silver or gold due to the fact Perth mint make batches and if there is a run on a type they only make a batch once a month, I wish silver was a problem but its the type, bit like the 2019 Eagles running out as Sunshine Mint couldn't make enough planchets. yet in Australia we had no trouble getting them
     
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  2. Gigrantor

    Gigrantor Member

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    I received my sales orders on Tuesday, everything was accounted for and was professionally packaged and sealed.

    RSM were utmost professional in keeping me up to date as to the status of my order once the court precedings had taken place.

    2 of their staff members in particular went above and beyond their duties to keep me updated and informed and made sure that I received my goods in the fastest possible time.

    Like many here, I was initially worried and stressed upon discovering the closure of Perth Bullion but fortunately that stress has now been relieved.

    It's good to hear that others have recovered their goods from their safety deposit boxes.

    In the end it's sad that a once great business has gone under, I wish everyone here the best of luck and would like to thank those who gave me support and advice.
     
    Last edited: Aug 22, 2019
  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Great news, I hope everyone has similar outcomes.
     
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  4. fishduck

    fishduck Well-Known Member Silver Stacker

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    Thats great to hear that your experience with RSM has been a good one.

    Just curious, did you end up paying the $350 that RSM asked for and from what I hear, there are still some people that RSM hasn't been able to locate their stuff and were worried that RSM is making them sign the deed of release before accessing their contents, which many believe would void their insurance policy.
    Has that been your experience as well when you received your sale order? Did you have to sign the deed of release before RSM sent your stuff to you?

    Regards
     
  5. Stackmaster2020

    Stackmaster2020 New Member

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    Thanks for the effort.
    Q
    Do we know if xxxx only provided the complimentary 10k per box insurance, or if they were also the broker for additional optional insurance?
    PB advised me the ultimate insurer was Lloyds of London.
     
    Last edited by a moderator: Aug 28, 2019
  6. Stackmaster2020

    Stackmaster2020 New Member

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    Greetings fellow stackers, new member tangled up in this mess, including SDB recovery.

    Seems no matter what I provide RSM they say they cant provide access to my SDB.

    There are many irregularities which when viewed in totality are alarming.
    Could be liquidators stringing out the proccess to collect more fees, but theft of some of the box contents should not be ruled out.
    RSM are not taking the risk of theft seriously (that's from the horses mouth).

    Any members report to police?

    I see Mendalowitz Commercial lawyers have advertised on this thread.
    Are members using them?
    Individually or collectively?

    There is discussion in this forum of affected stakeholders forming a group to provide a united front and reduce costs of individually engaging a solicitor.
    Has anything happened to affect?

    I am a Perth resident and prepared to front up to RSM or PB premesis, or report to Police or Media..
     
  7. PMstack

    PMstack Member

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    I didn't get the latest certificate of insurance, but GCIB covered the whole policy in my previous certificate, which was underwritten by Lloyd's
     
  8. gsswan

    gsswan Member

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  9. fishduck

    fishduck Well-Known Member Silver Stacker

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    How is this going, any updates?
     
  10. Sham Bolic

    Sham Bolic Member

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  11. Sham Bolic

    Sham Bolic Member

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    not really seems a kind of waiting period for things to settle and fall one way or another
     
  12. gsswan

    gsswan Member

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    It's doesn't effect me as I already got my stuff but I got an email from rsm last week, they are going back to court for further instructions.
     
  13. fishduck

    fishduck Well-Known Member Silver Stacker

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    Did they make you sign the deed of release before investigating your stuff and were you comfortable with that before looking and make you sign a document that releases them from any responsibility should your contents not be there?
     
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  14. gsswan

    gsswan Member

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    I would go in 2 to 4 times a year but was not comfortable as it's extortion but had a look in June.

    I would go in 2 to 4 times a year including sometimes in June / July just to look at it without adding or taking anything.

    I signed it, I had a lock on SDB, I had the number written on the lid of the SDB, not that it matters too much I suppose I had tag number & all documents.
     
  15. PMstack

    PMstack Member

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    Has anyone heard RSM is going back to court Thursday 5th September? 0945 at the Supreme Court.

    Application is regarding changing the wording of court order chapter 19 to corral people into signing the deed of release before making an appointment. This is a clear attempt to shut down those with concerns about the effect of waiving insurance cover by indemnifying RSM.

    Also provisions for $3300 collection fee for extra large box holders....
     
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  16. SilverDJ

    SilverDJ Well-Known Member

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    That's criminal! :eek:
    What on earth is the difference in their time and effort between a normal box and a large one that warrants 10 times the cost?
     
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  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Hopefully someone can get their representative in to shut RSM up
     
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  18. PMstack

    PMstack Member

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    RSM know that most people are willing to do f*** all so if they are forced to maybe they'll just offer a non disclosure agreement to those that kick up too much fuss.

    If you don't hear from me here again that's most likely what's happened. I swear the apathy evident surrounding this is appalling.
     
  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I wouldn't call it apathy. Most involved parties are likely not forums members whilst most forums members are likely not waiting on orders or sdb holders. The ones that are have probably signed the papers and received their items and are no longer interested in the headache.

    You can't expect those without a stake in the matter to be going out of their way to solve these issues.
     
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  20. PMstack

    PMstack Member

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    I won't go into the carry on of the forums but I'm sticking with apathy as my general experience there.

    Sure there are lots of people who are not in forums but I've no idea if they are taking seeking positive steps to actively to look after themselves or like the majority on forums hanging back hoping someone will do something that will get them out of this bind.

    I do also think there is a reluctance to stick necks out, but thats why there are 3 boxes unaccounted for and the court still entertaining provisions to force people to potentially negate their insurance through the indemnity waiver part of the deed of release.
     

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