Meh... arguing about paranoia or not is pointless. Some people value their privacy more than others, learn to respect that and don't judge. About Perth Mint's "registration" process... it is more tedious than getting a credit card which is bulls*it. For some credit cards all you need is a medicare number, passport number, drivers license (2 of the 3) and you can register online easily. Perth Mint makes you go through all this crap to 'register'. What a joke. Seriously, the post office/justice of peace? Move into 21st century for crying out loud.
You should still be able to buy small orders over the phone though. ID isn't required for that and wasn't until they changed their policy at some stage.
FB, how can you compare getting a credit card to buying bullion??? Getting a credit card only gets most (99.999%) people into trouble. If you can breathe and have a job, any bank is happy to serve you with a dose of credit card, so of course it's simple.
I was well prepared. Registered months ago. Got online second Mint opened for business with an order for 20 silver and 5 gold coins. 2 hours later still, hundreds of attempts at check out - could not confirm at check out so phoned Mint - half hour wait - told (only after I specifically mentuioned I was also after 1 oz gold coins) that the gold coins were sold out - that was reason my total at check out would not finalise. Now I was on that site the second bullion sales started and I couldn't get any 1 oz gold coins online! Not even a statement on the site that the 1 oz gold were sold out because I went back and they were still accepting the gold coin orders but then not accepting the total at check out. All I can say is that for a major launch it was not good for even those well prepared! I did eventually get 20 silver coins online by deleting the gold coins from my order!
If they can give me $15,000 in credit in 60 seconds online, they can give me the fkn opportunity to buy $1000 in bullion.
I understand what fishball is saying that " you can procure credit easier than you can buy something " That doesnt make sense in my old mans words" its arse about face " which means its the wrong way around. See that was easy to understand :
I know the feeling I got the same response this morning. Even after ordering over the phone for the last 2 and half years. How does that make sense? If I was registered online I wouldn't be talking to these clowns over the phone.
No it's not bloody reasonable! During the registration process there is a part where it says "get bullion trading fast, upload your certified I.D. Blah blah" so what do I do? no worries I say no need to panic! I go and get my D/L and Passport certified by my local JP and scan it into the registration form knowing full well that they won't send the coins until they have the hard copy, but at least I can lock in my roll. After doing that the account says I can't start trading until registration is verified (up to 5 days). What a bunch of unprofessional leaches this mob is.
I'm not going to "trash" you, as invited. But I will respond to a point or two. re: "If you want things done, you need to play by their rules". Thats the sort of statement that fits neatly with the "if you don't want to put up with patdown type security then don't fly" type mentality in the US. There comes a point when stands need to be made, if only to highlight when enough is enough. re: "It's only reasonable isn't it?" No, sorry, it isn't reasonable. Maybe for you. But not for me. re: :If you were in charge, what would you do?". I'd be a meglomaniac dictator. Knowing what I could get away with, on the quiet, when in charge of a largely domesticated (and passive) population, I'd take this type of thing to nth degree knowing I would get away with it. And that is exactly the type of thing, we should all be aware of. re: " Just let any tom/dick/harry buy your bullions using any form of payments?" Absolutely. It's called freedom. re: "And if say the credit card was fraudulent, then imagine the nightmare of recovering your precious metals from the guy who bought it." And this is the type of "fear" that is used to introduce controls with a passive population all in the name of "its for your own good you know". Feel free to "trash" me. Its only talk. And it might lead to a bit of mutual enlightenment. But abuse and insult me, and expect the same in return.
I disagree with this train of thought completely. It's important to remember your values are not the same as everyone elses, AND a business has a right to impose standards by which transactions are executed. Example: you come into my house to conduct business and decide it's okay to spit tobacco on the floor. I have a 'no spitting on the floor' sign on my wall and kick you out. You are however free to spit on the floor in your own house or at the house of anyone else whom will do business with you providing they have no 'no spitting on the floor' policy. The PM has it's own rules (they might even have a rule against spitting on the floor too!) which you must abide by to do business with them. Largely these are imposed on them from above (ie. AUSTRAC) however you are free to do business elsewhere where these rules are not imposed (ebay, SS etc.). PM aren't in a position to make exceptions for a minority whom disagree with their policies. If you want to make a stand: good. But direct your frustrations in the correct area, which in this case is NOT the PM. They are simply adhering to Commonwealth Law. (I don't mean to offend: I just think there's a lot of unfounded trashing of PM going on which isn't really warranted. And the above doesn't necessarily reflect my view on said laws/policies. Yikes: what a disclaimer!)
Except the law doesn't require ID and neither did the Perth Mint till they changed their own policy at some stage and caught some people out through a lack of notification.
Are they though? I think they aren't! I hate to call the girl on the phone a liar (or misinformed) but I am pretty sure the Austrack law is for orders over $5K..... If I am wrong though, why didn't I require to go through all of this bullshit when I purchased $1400.00 worth of proof coins a few months back? What is the difference between proof and bullion as far as Austrack is concerned? If you could launder money via bullion surely you could do it with shinier bullion!
I bought over $5k from PM's other website and didn't need to do any ID of any sort. Paid through Paypal with my credit card and that was it. Breaking the law?
Exactly silverthorn, why even have separate departments as far as the public is concerned. One site with all the products available with one account makes sense. I am sure some idiot manager had to do extra work that way and put the burden on the public knowing that they have the monopoly in Australia and we will just put up with their shit.
And I disagree with your train of thought completely. When a business conducts what I see as poor business (whether that be the service it provides or the seemingly onnorous expectations/preconditions placed on a potential customer) then I'll bloody well say so. You have your opinion and you expressed. I have mine and I have (and will continue) to express it. Oh, and I forgot........................... ............... (best I put in the mandatory smile. It seems that the social more here is for one to add a smile at the end of a swipe. Somehow this is meant to mitigate against taking offence).
In my view the 88% foreign revenue is not an achievement, but the reflection of bad local customer service. Look at that way: Foreign distributors are doing great service in their respective countries (APMWX, Gainesville..), but Perth Mint is so bad locally with their unnecessary bureaucracy, customer relation, unreliable telephone and internet services, and incorrectly interpreted government requirements, they are only able to make 12% locally.
Hmm. That's more recent than I've bought. Wonder if they brought it in just to keep track of who is getting what in term the limits on lunars.
1oz gold are 'available' from a prominent online WA based dealer for just a smidgen less than $200 premium over a 1oz kanga, on the day of release.
I went in person today and was surprised that they don't accept payment of more than $1,000.00 with my credit card. Missed out on my 1oz gold dragon. My bad, it's probably on their website which i missed.
