It might just be people not wanting to drop their prices with the spot price but it seems people are wanting more for PM 10oz bars than it would cost to get them directly from Perth Mint? At $21 over spot their last price was $292, so even with postage + insurance a couple of these would set you back about $305ea. This is less than some dealer's prices before postage. Is this because people don't want to deal with PM being the govt or don't like the records being kept or some other reason I don't understand?
They hardly have them in stock,but when they do it works out better only for those who can walk in There is always a premium on 10oz bars because of demand You will almost NEVER see 10oz bars for sale at PM prices on the second hand market
I was told by one dealer that it is usually cheaper to get the 10 oz bars from the Perth Mint as the dealers cannot get any discount on them but they do get discount for coins etc.
The PM sux due to the fact you HAVE to be at home to collect the goods. It's got to be the name on the package to sign for it and ID shown. That is not very convenient for most people.
When I first started stacking I dealt with the mint heaps, used to call up and order but it was a frustrating process ordering via the phone. As stackers we are spoilt for choice now when it comes to buying.
Having dealt with their CS reps I wouldn't say that is completely true. It's just that the Perth Mint does things in an archaic and often very hard to comprehend way and results in pissing off the customer. It'd be nice if they caught up to speed with the rest of the bullion trading world.
It would not be very convenient for us to have to cover losses from thefts where the delivery was left at your door. Are you offering to indemnify us for any losses? The courier knows it is coming from the Perth Mint. Think about how many deliveries would get "lost" when couriers realise they don't need signatures: "Hmm, I'll just say I left it at the door" or "I'll just fake a signature and say that I gave it to that person who was at the door". I'm not saying we can't improve, but some of that stuff is conservative security stuff. Anyway, leaves an opening for private enterprise to offer more customer convenience with more business risk for them.
What I don't get about the PM is that you can have goods delivered from the Shop via AAE but from the depository you have to suffer a world of financial pain paying for delivery via Brinks as AAE is not an option. This makes it cheaper to fly to Perth and pick up yourself. Whenever I've asked why, its always just because that's the way it's done. Anyone else ever had to confront this conundrum?
Typically the value of metal sent from Depository is much higher than that sent from the Shop. You can have goods delivered from Depository using AAE if you wish, however, as it is an unsecured and uninsured carrier, you need to complete a waiver. The Depository guys told me they always provide an AAE/FEDEX quote in addition to the Brinks quote unless the client has requested an insured quote, in which case they don't provide an AAE/FedEx quote. Depository clients can request AAE and arrange the insurance themselves.
Really, last time I checked (which was a couple of months ago) I had to arrange my own pickup. I even tried organising a pickup with AAE, but couldn't because one must qualify for an account to transact with AAE. (Edit: and have travelled to the mint in the past to pick up BECAUSE no cost effective option such as AAE was available). The Shop, btw, provides insured delivery via AAE, leveraging the corporate discount available to the Mint. Why can't you (they) extend the same options to depository customers? That would be great customer service as far as I'm concerned, as opposed to this BS of orgnising your own.
Yes. Eventually signed the waiver and did it via AAE that way. It would have been cheaper to fly to Perth and back than to use Brinks.
I don't buy much, but both times I called I couldn't understand what the woman on the other end of the phone was saying. Aurora got almost all my business after that.
Maybe I shouldn't have said it sux, but the last time it was delivered and I wasn't there to receive it, I was given 1 week to collect it from Brisbane airport or it would be taken back to the Perth Mint and from there I'd have to arrange something else at my expense. To me, that isn't good enough, but if that's your policy so be it. I just choose to use someone else these days.
I got order delivery from Perth Mint via AAE twice, first time, I was unattended and no way I could stay home during weekdays to wait for the delivery to arrive, so I requested AAE via Perth Mint to change the delivery address to my work address with an additional fee of $17. Second time, AAE couldn't find my office and I called them directly to redeliver to the same address, I requested them to call my mobile when they arrive at the building so that I can come down to collect, they were quite nice and got it redelivered on the same day free of charge. Even though there seem to be more hassel with AAE, I feel more secure when they verify my driver's licence against the name printed on the parcel, that way no one can fraud my signature, which I once had with Aust Post service.
The are registration requirements for buying from the Perth Mint bullion website, mostly related to providing proof of identification before being able to make purchases. Other dealers do not have such stringent requirements (whilst remaining compliant with AUSTRAC AML/CTF legislation), and some customers are willing to pay a little bit more for the convenience offered. The difference between the wholesale and Perth Mint retail premiums on cast bars are miniscule anyway - so in order for it be be viable to offer new cast bars for resale, slightly higher prices are necessary for it to be worthwhile.
