Perth Mint Depository Online - new service

Not sure I understand the question.
You simply transfer money from your bank account into your PM account, then you simply "buy" the unallocated metal. In the case of silver only "pool allocated" is available.
Your PM account can hold cash, gold, silver, or platinum and you can instantly buy/sell between them at any time.

[youtube]http://www.youtube.com/watch?v=lCnCfpi9ho0[/youtube]

 

Thank you SilverDJ
Now it all makes sense

 

That does make it clearer, cheers

 

What a bargain! I'll take 500!

 

Would perth mint be a safer option than say Perth bulllion or are they owned by the Perth mint it's time to
Dip the toe in some Unallocated me thinks

 

No, PB is private. I suppose it's a matter of personal preference which you choose, some ppl don't trust govt and some don't trust _anyone_

The buy/sell spread is wider at PB but there are no transaction charges. I haven't crunched the numbers but there's probably not a great deal in it. Same goes with fabrication charges, storage fees etc.

The Mint has the advantage of being govt guaranteed - again, not everyone trusts that either. I chose the mint b/c it was the first program I looked at and it seemed OK. Pretty scientific.

 

Has any one had any bad experiences with Unallocated in the buying and selling ???

 

Yes.
Perth Bullion is a small-ish private company, nothing to do with Perth Mint. Confusing name.

 

No - been using this service since August 2015 and have nothing but praise for it. Customer service has been pretty good, too.

Hindsight and all that..but it was possible to take physical possession of kilo Ag in December 2015 at something like AUD 660 using this service (ok, provided actually getting to the Perth Mint to pick up then didn't present an issue or cost extra)

As far as coins go, my understanding is that after paying extra to go from Unallocated or Pool, Allocated to Allocated and arranging delivery you'd end up with whatever 1 oz Kookaburras happened to be available to fill your order, ie you can't specify any type of coin that you would like ("jeez, mate" [there was an administrative oversight for a couple of years on the order form relating to 2oz Kookaburra coins ..... but that has since been cleared up])

Bron has also already stated that Unallocated Au (which attracts zero storage fees currently) won't be around for ever.

Personally I find it hard to go past this service in terms of price, convenience and minimisation of counterparty risk - if anything in the reverse order. That means that buying or selling, the Perth Mint holds up their end of the deal when you want, at their price. In effect Perth Mint adds around 31 cents to the spot price when you buy Pool, Allocated silver.

Is that a bad experience/good deal ? Depends on your perspective.

 

I like the Prth Mint depository program and have been using it since almost the start.
One thing bugs me though, is that there doesn't seem to be any way to see how much profit you have made on your portfolio.
The only thing it tells you is how much your portfolio is currently worth, but not what you paid for them (not even an average value)
You can download your statements etc and do it manually, but that would be painful.
And they have the "Portfolio History" graph which is kinda weird, but it doesn't tell you overall how much you are up or down on your portfolio.

Is it there and I'm just not seeing it?

 

In case no-one else has posted this: unallocated silver is now available with Perth Mint Depository (online and offline).

Apparently they offered it previously but withdrew it, but have decided to re-introduce the service. I have jumped back in with my (tiny) balance, after cashing out when gold jumped in price. To me it seems like silver is following similar price trends to gold, but with a greater volatility.. so being able to buy and sell with only a couple of percent in fees and spread is a very smart option.