Perth Mint says it has enough silver in stock following online claims the refinery is defaulting

Discussion in 'General Precious Metals Discussion' started by ozcopper, Mar 24, 2021.

  1. SodaPop

    SodaPop Member

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    Why did Perth Mint place a 10KG per household permanent limit (not daily) on the same day the raid was supposed to happen? Kinda manky.
     
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  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    From WSS
    52tltimj2hq61.jpg
     
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  3. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Not buying it's a "permanent / lifetime" limit. I've seen that claimed only by Redditors - needs verification from the Mint imo.
     
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  4. heartastack

    heartastack Well-Known Member Silver Stacker

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    Well, as the PM has had no issues flogging loyal retail customers through various schemes (thinking privy lunars and re-minting old year kooks and lunars) it would be nice to see PM bullion get some scarcity value again.

    Nothing personal from me, sometimes there are unfortunate human costs when things go bad and I don’t wish that on anyone.
     
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  5. dollars

    dollars Active Member Silver Stacker

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    Instead of saying they have the silver
    Just provide the full range of products to customers as they want them
    From my memory from years ago didn’t the Perth Mint increase their ability to produce product ? Bron and Ron Armstrong could confirm

    The lunar series as an example customers are unable to buy essentially what is supposed to be mint to demand product ( given the 1oz gold and silver coins did have a limit )
     
    Last edited: Apr 1, 2021
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  6. Jason1

    Jason1 Well-Known Member

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    there was this little thing called covid that came about that put a complete handbreak on minting, even stopped it completely for some time there, they have been on the back foot ever since. one point there was a 4 month wait on orders, its hard to get ahead when you start off with a back log, that was known well before WSS came about, we have had a year of this delay in retail bullion.
     
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  7. Azure

    Azure Active Member Silver Stacker

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    Looks like only 1kg bars are available at this time:
    http://www.perthmintbullion.com/au/View-All-Bullion.aspx

    Lists 1000oz bars as available.
    (by phone though, no price listed).

    Other weight product pages still accessable via:
    https://www.perthmint.com/our-bullion-products.aspx#Silver-minted-bars
    But obviously listing "Out of Stock".

    10kg limit would HAVE to apply only to 1Kg bars, i.e. 10x 1kg bars... surely?
    After which, if you wanted more physical youd be 1/3 of the way to a 1000oz bar anyhow.

    If not... i still cant imagine more than 3x boxes of 1oz coins with 5x rolls of 20each for 300oz (just shy of 10kg) would be too restrictive a limit for people... (short term) When lunars are released i believe from memory the limits at the openings in perth are more restricted than that so it doesnt seem TOO outrageous or uncommon...

    What are delays for shipment actually like at the moment..? I havent tried buying from them directly recently.

    If its really 4 months thats truely incrediable, they should run new staff training and pay higher wages as theyd be loosing out BIG time on potential sales turnover not having product.
     
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  8. PMCollector

    PMCollector Active Member

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    So I recently bought some silver from Perth Mint, just some feedback for others if interested. All IMO.

    Quality of responses by email/phone : Poor, usually response time 7-10 days and responses are short and vague.

    Speed of delivery : Excellent (ordered and paid 30th March and received 7th April, with Easter and apparent squeeze/dramas this was acceptable)

    Quality of product : Neutral (Bars heavily scratched with black marks, which I understand is normal but how hard is it to place a sleeve of foam in between the bars? Their website shows a polished perfect bar then says images are for illustration purposes only.
    Bullion bars supplied may vary in finish, including colour tone, surface texture and shape... Fair enough, but ABC has always shipped me bars that look like what they post up on their website.)

    Price : OK, but believe ABC bullion care more about what they are doing than Perth Mint which is a shame.

    I'd love to work for one of these places, I'd really take care and pride in what I was doing... just my opinion.
     
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