Perth Mint (PM) delivery times

P

Paulo

Member
Just wondering about PM delivery times experienced by Stackers since the dip?

Ordered a 100oz silver bar on 06 May 2011, still no word on delivery. At the time PM advised that it may be up to 3 months, they have always been professional and honoured their commitments, so hopefully all will be OK come early August.

Was wondering whether anyone has taken delivery from the PM for any order submitted after 06 May 2011?

I have been unable to even get delivery estimates, except the usual line of "up to 3 months". I understand there has been a production bottle neck on silver with the new coin press, and genuinely appreciate the PM still selling silver even under these circumstances. Just want to find out about the recent experiences of others?

Also does anyone know the process through which the PM prioritises fulfilment of its outstanding allocated sales? Being a government backed organisation I imagine it must have strict (and auditable) policy guidelines. I have searched their website and surprisingly could not find anything (this could be me).

Oh BTW this is my first post, thanks to everyone for all the great advice in this forum.
 
Even though i have an account with the Perth Mint , I have never actually made an online purchase because i live only 35 minutes from the Mint , The last time i was in there i was surprised to learn that the depositry , online account department and the bullion desk all have thier own stock according to one of the staff .

Welcome Paulo...
 
Ordered some bars after the dip. They told me the wait could be up to 2-3 months, but it took only weeks. I ordered straight through the shop though, not online.
 
Last two orders, 6 days. The last received two days ago. But then again, I may not be ordering what you ordered.
 
From http://www.perthmintbullion.com/blog/blog/11-06-22/Silver_Bullion_Bar_Production_On_The_Up.aspx

In coming weeks and months we will be increasing production of other sizes, resulting in much improved continuity of supply.

In the meantime, we are focussed on making silver bullion bars for clients who placed 'back orders' during May and in the first half of June.

If you are currently awaiting delivery of product you ordered and paid for recently, thank you for your patience I can assure you that your purchase is our top priority.
 
With all due respect to Bron, the Perth Mint is run like a Govt Dept and the shop is set up to sell trinkets and specialty items to tourists which is a good thing, there is also no doubt at all that you will get your silver when it arrives.
The shop staff are friendly and helpful, but the bullion counter is another deal. I used to line up and buy at the counter but I got sick of the waiting times and the attitude of the staff acting like they were doing you a favour taking your money, smiles are a rare occourence at the bullion counter, maybe they are afraid their faces might crack, so I went to on line US Mints and other suppliers who may charge a slight premium but you get your goodies on time.
The PM obviously does not have a very good planning capacity to keep up with demand or to serve the public for bullion. This can only be because of bad planning or because the shop bullion sales are only a small part of their business and consequently not much of a priority.
Either way the place needs a shake up or a broom put through it. Even when they can supply again I wouldn't be bothered waiting in the lines to spend my money with someone who does not appear to give a crap.
 
Called PM this morning, silver came in on Monday, had already been allocated, and I was going to be called this afternoon. So all sorted now. Thanks for your replies.

I genuinely appreciate the service the WA government provides, it is nice to be able to order with confidence, and to still be able to order in times of short supply. Within the context of a volatile silver market, supply pressures and slim margins, I imagine the operation would be very difficult to run.

It was good to find out that PM have separate allocations per service channel; this may affect how I may order in future. It also explains why bullion may appear as available on-line but not be available over the counter, and vice versa. It is this inconsistency which raised my concern in the first place.
 
typhoon said:
With all due respect to Bron, the Perth Mint is run like a Govt Dept and the shop is set up to sell trinkets and specialty items to tourists which is a good thing, there is also no doubt at all that you will get your silver when it arrives.
The shop staff are friendly and helpful, but the bullion counter is another deal. I used to line up and buy at the counter but I got sick of the waiting times and the attitude of the staff acting like they were doing you a favour taking your money, smiles are a rare occourence at the bullion counter, maybe they are afraid their faces might crack, so I went to on line US Mints and other suppliers who may charge a slight premium but you get your goodies on time.
The PM obviously does not have a very good planning capacity to keep up with demand or to serve the public for bullion. This can only be because of bad planning or because the shop bullion sales are only a small part of their business and consequently not much of a priority.
Either way the place needs a shake up or a broom put through it. Even when they can supply again I wouldn't be bothered waiting in the lines to spend my money with someone who does not appear to give a crap.
Click to expand...

I have`nt experienced too long a wait myself , but i agree with typhoon about the service , there is one freindly woman working there at times , but the rest can really be quite sharp and blunt , i find it somewhat unexceptable considering the sizeable rolls of cash you can hand over , you get more service buying a pie and sauce .
 
shinythings said:
typhoon said:
With all due respect to Bron, the Perth Mint is run like a Govt Dept and the shop is set up to sell trinkets and specialty items to tourists which is a good thing, there is also no doubt at all that you will get your silver when it arrives.
The shop staff are friendly and helpful, but the bullion counter is another deal. I used to line up and buy at the counter but I got sick of the waiting times and the attitude of the staff acting like they were doing you a favour taking your money, smiles are a rare occourence at the bullion counter, maybe they are afraid their faces might crack, so I went to on line US Mints and other suppliers who may charge a slight premium but you get your goodies on time.
The PM obviously does not have a very good planning capacity to keep up with demand or to serve the public for bullion. This can only be because of bad planning or because the shop bullion sales are only a small part of their business and consequently not much of a priority.
Either way the place needs a shake up or a broom put through it. Even when they can supply again I wouldn't be bothered waiting in the lines to spend my money with someone who does not appear to give a crap.
Click to expand...

I have`nt experienced too long a wait myself , but i agree with typhoon about the service , there is one freindly woman working there at times , but the rest can really be quite sharp and blunt , i find it somewhat unexceptable considering the sizeable rolls of cash you can hand over , you get more service buying a pie and sauce .
Click to expand...

I liken the feeling to going through customs.....:rolleyes:
 
shinythings said:
typhoon said:
With all due respect to Bron, the Perth Mint is run like a Govt Dept and the shop is set up to sell trinkets and specialty items to tourists which is a good thing, there is also no doubt at all that you will get your silver when it arrives.
The shop staff are friendly and helpful, but the bullion counter is another deal. I used to line up and buy at the counter but I got sick of the waiting times and the attitude of the staff acting like they were doing you a favour taking your money, smiles are a rare occourence at the bullion counter, maybe they are afraid their faces might crack, so I went to on line US Mints and other suppliers who may charge a slight premium but you get your goodies on time.
The PM obviously does not have a very good planning capacity to keep up with demand or to serve the public for bullion. This can only be because of bad planning or because the shop bullion sales are only a small part of their business and consequently not much of a priority.
Either way the place needs a shake up or a broom put through it. Even when they can supply again I wouldn't be bothered waiting in the lines to spend my money with someone who does not appear to give a crap.
Click to expand...

I have`nt experienced too long a wait myself , but i agree with typhoon about the service , there is one freindly woman working there at times , but the rest can really be quite sharp and blunt , i find it somewhat unexceptable considering the sizeable rolls of cash you can hand over , you get more service buying a pie and sauce .
Click to expand...

Agree with both of you - service is terrible - the ladies at the front seem like they have PMS everytime I have been there...\

Sticking to OP - the longest wait I have had was about a month, which was after being told I would have a 3 month wait - so all good.
 
I've never had a drama with the people there, they are the same as any other retail place. A couple of the women there have been pretty helpful a few times re: a coin i was chasing. Just because i'm buying PM's there i don't expect the red carpet to be rolled out while everyone screams my name. Only thing i didn't like is not being able to use eftpos for purchaes over $1000 but i can live with it. Wait times not too bad, i've seen more sellers of jewelery than buyers of bullion.
 
I think the Perth Mint is very professional in the way they do business , they are very trustworthy and they are held in high regard world wide , and thier bars while not that attractive will always be accepted by dealers anywhere .
But i just dont think they give a shit about selling bullion bars over the counter , no cheques , no efpost , no credit cards .. !!! no direct deposit facility ...." only cash " .... and a " frown " ....lol
I have thought about making an online order , paying for it , and then picking it up .. but too much hassle .

My first purchase from there was 17 bars , so i walked in with bulging pockets of cash and left with two bags of bars that were splitting and i walked off down the road like i was carrying a baby goat . I thought i would have been given a cardboard carry box .
I have my routine now , back pack , taxi waiting out the front etc..
 
PM does seem to lack the personal touch, in service & communication. It would have been nice to get an update from them. Two months is too long to be waiting for an order in silence, without reassurance. I have another outstanding order with them from late May (again they said at purchase it could take up to 3 months so no break in trust or professionalism). Interesting to see when this will be delivered. In the volatile/fragile silver market three-four weeks seems like such a long wait.

At the end of the day as long as they come up with the goods, I am happy. I still believe that the PM is a State treasure (those living close by are quite fortunate), if this attitude/belief was also reflected in their service and communication then all would be perfect.
 
LovingtheSilver said:
I've never had a drama with the people there, they are the same as any other retail place. A couple of the women there have been pretty helpful a few times re: a coin i was chasing. Just because i'm buying PM's there i don't expect the red carpet to be rolled out while everyone screams my name. Only thing i didn't like is not being able to use eftpos for purchaes over $1000 but i can live with it. Wait times not too bad, i've seen more sellers of jewelery than buyers of bullion.
Click to expand...

1+

Never had any issues with them. So they ain't overfriendly? They're probably run off their feet. If you want to be doted on, drop a few hundred at a retail clothing store and you'll get all the personal attention you desire.
 
shinythings said:
But i just dont think they give a shit about selling bullion bars over the counter , no cheques , no efpost , no credit cards .. !!! no direct deposit facility ...." only cash " .... and a " frown " ....lol
Click to expand...

I'm confused, my understanding is they accept CCs (with a 3% charge) and they certainly accept efpost. Not sure about the direct deposit, but it would surprise me if they didn't accept that. BTW, who still uses cheques?
 
Paulo said:
Ordered a 100oz silver bar on 06 May 2011, still no word on delivery. At the time PM advised that it may be up to 3 months, they have always been professional and honoured their commitments, so hopefully all will be OK come early August.
Click to expand...

This is just amazing to me. These companies are floating on your money. Could you imagine if a food supplier took 3 months to deliver to a restaurant? These are futures contracts and they scare me when I am purchasing. I absolutely will not buy from anyone that does not ship same or next day. If they are not shipping the same day they do not have what they are selling you. Be very cautious. They only go bankrupt once... and then all is lost.
 
While Silver Report makes a fair point, the WA government is a long way from being bankrupt. What Paulo did was lock in a price. I think it would be fairer if you only had to pay a portion of the total cost.
 
Silver Report said:
If they are not shipping the same day they do not have what they are selling you. Be very cautious. They only go bankrupt once... and then all is lost.
Click to expand...

Are you saying...the Perth Mint is out of silver?
 
Silver Report said:
These companies are floating on your money. ... If they are not shipping the same day they do not have what they are selling you. Be very cautious. They only go bankrupt once... and then all is lost.
Click to expand...

You are correct in that if you pay money to any business and then have to wait for delivery you are exposed to them going bankrupt before your deal settles. That is not just precious metals, same risk if you leave a deposit on some whitegoods for example.

As to floating on your money, I think you are missing the fact that when you buy anything from a retailer, they most likely have to pay the manufacturer before they get the remaining cash from you. In the case of precious metals, no dealer is going to lock in a price with you and then just sit on your cash, they immediately buy from us to lock in their cost and have to pay us in 2 days, and we in turn buy and pay in 2 days. No one is floating on your money.

If a dealer is floating on your money, then they are really just speculating on the price falling and in that case I'd say the risk of bankrupcy is higher. You really only want to deal with dealers who cover themselves immediately.
 
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