Has anyone here used Perth mint's unallocated program?

yes its crap. They once made me wait 6 week to convert to physical. Avoid it. If you cant own physical you may aswell just buy on asx - etpgmag.
Your posting in the wrong place by the way
 
Yianni said:
yes its crap. They once made me wait 6 week to convert to physical. Avoid it. If you cant own physical you may aswell just buy on asx - etpgmag.
Your posting in the wrong place by the way
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thanks. and you're right I didnt realise it was within a trading sub forum, I thought it was just a general aus/nz page.
 
Yianni said:
yes its crap. They once made me wait 6 week to convert to physical. Avoid it. If you cant own physical you may aswell just buy on asx - etpgmag.
Your posting in the wrong place by the way
Click to expand...
would you care to help me a bit? i have a bit in the stock market but im unsure how commodity based shares/companies work. Are you just giving money to an investment company and they buy silver with it? I dont really get how a share price tracks a commodty like that and while I know youre not necessarily paying 1 share = 1 oz of metal bought, Im not sure why they arent the same. Sorry for dumb questions
 
I've used it and have had no problems. A simple phone call to buy and sell and your funds arrive soon after the sale. However, I have heard of some people recently having a problem converting their unallocated into physical, but I expect a cash sale should be okay.
 
b williams said:
would you care to help me a bit? i have a bit in the stock market but im unsure how commodity based shares/companies work. Are you just giving money to an investment company and they buy silver with it? I dont really get how a share price tracks a commodty like that and while I know youre not necessarily paying 1 share = 1 oz of metal bought, Im not sure why they arent the same. Sorry for dumb questions
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When you buy commodity shares you're usually buying into a mine that has the metal in the ground. So it needs to be dug up and refined before it's of value to anyone. Most of the larger miners like BHP pay dividends.

There are also shares like PMGOLD on the ASX, which represent actual gold that's allegedly held on your behalf in a vault. So if the price of gold goes up 10% then PMGOLD should also go up about that amount. However as it's a market with buyers and sellers, your transaction price can vary a little from the Kitco price.
 
GoldenEye said:
When you buy commodity shares you're usually buying into a mine that has the metal in the ground. So it needs to be dug up and refined before it's of value to anyone. Most of the larger miners like BHP pay dividends.

There are also shares like PMGOLD on the ASX, which represent actual gold that's allegedly held on your behalf in a vault. So if the price of gold goes up 10% then PMGOLD should also go up about that amount. However as it's a market with buyers and sellers, your transaction price can vary a little from the Kitco price.
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thanks for your help. Well that's why I am still unsure but leaning towards buying unallocated instead of just something like etpmag. Like you said, the price of the metal may go up but with something like pmgold or etpmag it still depends on buyers and sellers + sentiment. directly buying an allocation, allocated or not, feels more direct and safer
 
I use it to buy and sell and never had a problem. As already mentioned I’ve heard of timeline issues for some trying to convert to physical. Good luck.
 
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b williams said:
thanks for your help. Well that's why I am still unsure but leaning towards buying unallocated instead of just something like etpmag. Like you said, the price of the metal may go up but with something like pmgold or etpmag it still depends on buyers and sellers + sentiment. directly buying an allocation, allocated or not, feels more direct and safer
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PMGOLD/ETPMAG price is probably controlled by market making so won't necessarily diverge significantly from the actual price of the underlying commodity.
 
b williams said:
New member and hoping to chat to people who have used this as a platform to buy silver.
Cheers
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Let's look at this from the level of basic human interaction...
(a) if you do not trust someone, would you want to do (any/let alone ongoing) business with them?
(b) with regard to point "(a)" lets point out that this person has plenty of other competitors who provide the same products.

From a common-sense perspective, if there are (say) five companies out there providing precious metals, and of these five, you find that four are trustworthy, but one is definitely NOT trustworthy, then why would you do business with that one company? You would not, and its as simple as that. Only a confused nitwit with a befuddled, vacillating mind would do so.
(PS: But don't worry, as these flakes usually tend to carry with them a reference book called "1001 excuses for every occasion", and they have had plenty of practise in quoting from this book.)

If someone does not trust a particular precious metals dealer, then they should not possess ANY of their products, one reason being that you are supporting a crook, and that is almost as low-down as being the crook yourself. How low can you go?

If you ever find someone bad-mouthing some company, find out if the bad-mouther owns any of their products. And if they do, then you have your answer as to the true character of the person standing in front of you.
 
yawn... as one wise commentator on YouTube says about this video, "this is like watching paint dry."

At 1:54 - 1:56 he says that the Perth Mint is "on the verge of eventually becoming insolvent." What do you guys reckon? Shall we give the Perth Mint another month of life? How about 2 months? A year?

If the Perth Mint is not insolvent within this guy's life-time, do you think this guy will shut up? Probably... but the problem is that there will always be another buffoon lined up to take his place, and behind him, yet another buffoon and so on... each wanting to bore us with the same basic storyline. Yawn...

PS: Does his face look like an intelligent face to you? Not to me :( And if you want to make your video a bit more credible, then wear a wig so that you can look like Albert Einstein. Also change the tone of your voice so that you sound more alive, as it sounds like you are on the verge of death. And please try and look alive and perky, as you appear lifeless and devoid of any vigour. Better luck next time pal. Next!! [The next buffoon now gets ushered in through the stage door...]
 
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I watched the video & he says Allocated metal which I assume to be Allocated Storage metal shows on the balance sheet.

Allocated Storage is not a balance sheet item as it not an asset of the PM, customers pay the PM the storage fee of the customers asset, as always it's the age old question as to whether any of the Allocated Storage has been stolen

I have a hard time following it anymore...
 
Thanks for this tdtwedt. But as I said (and as you well know), there is no end of buffoons (it is an endless stream). Here is the response from the long standing buffoons at the laughable "Silver Doctors"... And there will be plenty more where this came from, as the buffoons run wild with glee and manic excitement... the end is nigh.... the end is nigh...

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