How to sell allocated metals from Perth Mint depository

H

Harrison

New Member
What are the options when it comes to selling my silver and gold retained in a depository account at the Perth Mint?
It seems the spread costs Perth mint itself offers are prohibitive and I'd hope to be availed of other options to sell at the best price possible come the time.
Thanks for your input
H
 
That could be feasible for small amounts though I'm thinking of cashing in circa $30k pa at today's rates hence the question
 
Your options are, sell it back to the Perth Mint, go there and pick it up, or get it posted.
 
An option to consider :
redeem it from the Perth Mint and then sell it to a private bullion dealer.
 
Harrison I assume you are with the 'offline' depository service with the mint. What sort of buy/sell spreads do they offer?

I have a 'Depository Online' account where the spreads are very narrow, which for me is the whole point of being involved. Buy/sell prices right now are:

You Buy

Gold Gold $1,703.33 / toz
Silver Silver $23.56/ toz
Platinum Platinum $1,424.81/ toz

You Sell

Gold Gold $1,699.93/ toz
Silver Silver $23.40/ toz
Platinum Platinum $1,414.87/ toz

...so ~ 0.2% for gold and 0.7% for silver (plus 1% transaction fee, less for larger trades).

- but now I see that fabrication premiums on allocated metals are not refundable, so I guess they are forfeited if you sell back to the mint. Costs involved either way.. what kind of delivery charges would be involved if you decide to redeem your metals? I assume you're not in Perth.

Moving $30k in metals on SS wouldn't be unthinkable, just a bit of a PITA. What area are you in?
 
HoldMeTender said:
Harrison I assume you are with the 'offline' depository service with the mint. What sort of buy/sell spreads do they offer?

I have a 'Depository Online' account where the spreads are very narrow, which for me is the whole point of being involved. Buy/sell prices right now are:

You Buy

Gold Gold $1,703.33 / toz
Silver Silver $23.56/ toz
Platinum Platinum $1,424.81/ toz

You Sell

Gold Gold $1,699.93/ toz
Silver Silver $23.40/ toz
Platinum Platinum $1,414.87/ toz

...so ~ 0.2% for gold and 0.7% for silver (plus 1% transaction fee, less for larger trades).

- but now I see that fabrication premiums on allocated metals are not refundable, so I guess they are forfeited if you sell back to the mint. Costs involved either way.. what kind of delivery charges would be involved if you decide to redeem your metals? I assume you're not in Perth.

Moving $30k in metals on SS wouldn't be unthinkable, just a bit of a PITA. What area are you in?
Click to expand...

Not sure about the abbreviation SS and PITA? Forgive my ignorance!
It does seem as for sales back to the mint that bars are the preferable option.
That said I have a few thousand coins it would probably be tedious to sell by other means.
Anyone know more on this?
Thanks
H
 
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