PERTH MINT ALLOCATED BULLION IS IT SAFE???

D

dagsgarrett

Member
Silver Stacker
I am writing in regards to Perth Mints allocated storage, not Pool Allocated in a SHTF scenario do you really think they do as they say and have your metal separated from inventory and kept in a safe for which you are paying storage fees ect?? I am weighing up the prospects of keeping it stored at home in my own possession and the insurance cost that come with that, and also any risks associated, or paying the Mint to do it for you which I don't mind doing if its there when you need it. Speaking to staff at the mint they say you can arrange to view your metal but without serial numbers ect and the fact you can't actually go inside the vault to view seriously how easy is it to chuck a few bars on a trolley and bring it out to you to view?

Regards

Dags
 
dagsgarrett said:
I am writing in regards to Perth Mints allocated storage, not Pool Allocated in a SHTF scenario do you really think they do as they say and have your metal separated from inventory and kept in a safe for which you are paying storage fees ect?? I am weighing up the prospects of keeping it stored at home in my own possession and the insurance cost that come with that, and also any risks associated, or paying the Mint to do it for you which I don't mind doing if its there when you need it. Speaking to staff at the mint they say you can arrange to view your metal but without serial numbers ect and the fact you can't actually go inside the vault to view seriously how easy is it to chuck a few bars on a trolley and bring it out to you to view?

Regards

Dags
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Since it's yours ask to mark the bars and see what they say.

Edit: I'm serious if they are "your bars" the mint should be fine with it so if they say no it's odd of them.
 
Smoothcriminal said:
dagsgarrett said:
I am writing in regards to Perth Mints allocated storage, not Pool Allocated in a SHTF scenario do you really think they do as they say and have your metal separated from inventory and kept in a safe for which you are paying storage fees ect?? I am weighing up the prospects of keeping it stored at home in my own possession and the insurance cost that come with that, and also any risks associated, or paying the Mint to do it for you which I don't mind doing if its there when you need it. Speaking to staff at the mint they say you can arrange to view your metal but without serial numbers ect and the fact you can't actually go inside the vault to view seriously how easy is it to chuck a few bars on a trolley and bring it out to you to view?

Regards

Dags
Click to expand...

Since it's yours ask to mark the bars and see what they say.

Edit: I'm serious if they are "your bars" the mint should be fine with it so if they say no it's odd of them.
Click to expand...
What a great idea !!!!! take a paint pen & put your signature on it
 
In reality, the only safe place in a SHTF scenario is your own neighbourhood - as long as you have the skills in order to deal with the problem. Now these skills and resources have been harped on long enough by many on this forum and there are whole forums devoted to survivalist theory. To answer your question - No. Why? Because you gotta get there or get it delivered. Perth Mint is as secure a place as any on earth to house your investment - if you are predicting the STHTF, then don't even bother wondering about the services they offer, you just need to store your stuff at home next to your baked beans, water bottles and dried mushrooms.
 
If the Government decides to confiscate precious metals, where is the first place you think they're going to go....
 
dont see the point if shtf really happened laws would be changeed in an instant so say bye to ure gold if ure still not sure keep half at home and half in allocate that way half of you worry is gone (literally lol)
 
I use them and this is from their own site.

http://www.perthmint.com.au/investment_invest_in_gold_storage_options.aspx

Clients worried about potential delays in collecting metal in extreme circumstances, but with concerns about the cost of allocated storage, usually take a staged approach:

1. While the world environment is benign, they hold unallocated. They do not incur ongoing storage costs and fabrication charges.

2. When the environment becomes uncertain and risky, they convert to allocated.
3. When the world is at a crisis point, they take delivery of their physical metal.
This approach can save clients significant amounts of money as it may be some time between stage 1 and 2. Clients who do not feel they can judge the shift from stage 1 to 2, or feel it may be sudden and unpredictable, opt for allocated as they are using precious metals as "insurance" and see the storage fees as the cost of that insurance.
 
I have a largish deposit as part of a SMSF and feel very safe with Perth Mint - I think I will be made whole by either the WA government or Lloyd's of London in Fiat worst case...pretty safe bet given the current economic climate...
 
perthsilver said:
I use them and this is from their own site.

http://www.perthmint.com.au/investment_invest_in_gold_storage_options.aspx

Clients worried about potential delays in collecting metal in extreme circumstances, but with concerns about the cost of allocated storage, usually take a staged approach:

1. While the world environment is benign, they hold unallocated. They do not incur ongoing storage costs and fabrication charges.
2. When the environment becomes uncertain and risky, they convert to allocated.
3. When the world is at a crisis point, they take delivery of their physical metal.
This approach can save clients significant amounts of money as it may be some time between stage 1 and 2. Clients who do not feel they can judge the shift from stage 1 to 2, or feel it may be sudden and unpredictable, opt for allocated as they are using precious metals as "insurance" and see the storage fees as the cost of that insurance.
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I thought that was for "Unallocated" storage which i don't think they're offering anymore.

The other thing with having allocated storage with Perth mint is that they charge 1.9% storage fee with silver (in addition to other fees) . If the price of silver goes higher and higher it may get a lot more expensive than other methods of storage.

http://www.perthmint.com.au/pmdp-new-product-information-statement.aspx
 
The other thing with having allocated storage with Perth mint is that they charge 1.9% storage fee with silver (in addition to other fees) . If the price of silver goes higher and higher it may get a lot more expensive than other methods of storage.


this is why I loaded in at a much higher spot than current - I don't care - the storage cost saves over the next 25 years will more and pay off the punt...

:) not so good at Maths so...at 1.9% per year...wouldn't that mean I would have loss approx 48% of my deposit in the next 25 years from storage fee costs? hmmm...
 
From what i read, i thought it meant that if the spot price of silver goes up, your storage fees will go up as well for the next quarter.
 
ble2002 - not being silly here but isn't that why we invest in PM's? because WE think there going up in the future? I'm greedy and don't want to share my gains with those who store my metal - flat rate for me personally :)
 
The Perth Mint is the only mint in Australia which is fully guarrenteed , in fact it is one of only a hand full of mints around the world that are . Personally i would feel totally secure , allocated or unallocated . As long as your certificates are secure , what does it matter who`s bars are who`s . Allocated is much quicker to arrange delivery if so desire .

May i suggest you make enquiries to your bank .My bank charges $300 a year for safety deposits and $ 54 a year for a shelf placed lockable case in the vault . They will not guarrentee your metal in the event of fire or bank hold ups etc ,, because you are the only one that knows the contents , you get free access once a month and $5 there after . Its not hard to find insurance for such a secure placement . The problem is weight , more so for silver than gold . You have access and security , and its cheaper .

As for government confiscation ? .. we are all pretty alert types and there would be a hell of a lot of noise about it , so we would have time to react , but my great grandfather was jailed for melting and owning gold , so i remain open minded about it .
 
In hindsight, the recent collapse of the spot price of silver (when was it? about Easter? I can't remember now) is a truly classic example of the benefits of holding unallocated (or pooled). Just one phone call or fax and you sell sell sell. Then when things have settled, you buy buy buy.

Disclaimer: I do not work for the Perth Mint, but if they'd offer me a job I'd jump at it. :D
 
mmm....shiney! said:
In hindsight, the recent collapse of the spot price of silver (when was it? about Easter? I can't remember now) is a truly classic example of the benefits of holding unallocated (or pooled). Just one phone call or fax and you sell sell sell. Then when things have settled, you buy buy buy.

Disclaimer: I do not work for the Perth Mint, but if they'd offer me a job I'd jump at it. :D
Click to expand...

yess :D pouring bullion would be so much fun
 
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