Perth Mint Update

SilverDJ

SilverDJ

Well-Known Member
Update from the CEO:
There’s no doubt COVID-19 is having a huge impact on us all. At The Perth Mint, our focus is on the health and wellbeing of our staff as well as the continued service to our customers throughout Australia and beyond.

In the past few weeks, my team and I have introduced rolling shifts across dual sites to ensure safe distancing between our employees as well as adopting remote working options and increased hygiene practices in accordance with current government guidelines.

Right now, we are experiencing unprecedented demand. Our precious metal volumes remain high, though there may be some delays and temporary shortages of specific items we manufacture. Our teams are doing the very best they can, so your patience is greatly appreciated.

The Perth Mint has been proudly operating since 1899 and we take our responsibility as one of Australia’s largest exporters seriously. We fully intend to continue our service to all customers throughout this period. Together, we know we will all get through this.

As a State Government trading enterprise, all our operations are guaranteed by the Government of Western Australia. This is your assurance of trust in us and our unflagging commitment to you.

Our Refinery

  • The Perth Mint is not dependent on funding from any external providers, ensuring there is no risk of default or non-payment for our mining customers.
  • We continue to refine more than 90 percent of Australia’s gold production, our refinery remains open and this volume is not decreasing.
  • Trusted as a partner to the Australian mining industry for over 120 years, we have the knowledge, experience and technology to continue operating in this challenging time.
Our Depository

  • The Perth Mint offers the world’s only government guaranteed suite of tailored storage and investment programs.
  • With the largest network of central bank-grade vaults in the southern hemisphere The Perth Mint is one of the safest places in the world to buy and store precious metals.
  • We’re currently receiving higher than usual call volumes so please be patient with our teams should you experience delays. Should you need to contact our office, please ensure you have your account number, account name and password ready
Our Minted Products and Bullion

  • As the inaugural producer of the official Australian bullion coin program, we are experiencing an all-time high-level demand for our products.
  • Our production teams are working tirelessly to meet customer demand. Please be patient if a particular item that you are after is delayed.
Our Shop and Exhibition

  • For your health and safety, our showrooms, guided tours and exhibition are currently closed. Gifts, jewellery and minted products are still available online.
  • Bullion and gold jewellery buy-back services are operating from our East Perth location, Monday to Friday from 9am – 5pm. Social distancing requirements will be required.
From all of us here at The Perth Mint, we want to extend strength and good health to everyone around the world during this challenging time. We thank you for your continued support.

Richard Hayes, Chief Executive Officer, The Perth Mint
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So, they are producing bullion but no bullion for sale to Australians.
This reminds me of the 2015 Kangaroo fiasco, when the Perth Mint provided silver coins to the rest of the world but they kicked Australians in the guts.
Pressure from folk on this forum helped to ensure Aussies got at least 10% of production.
If you don't constantly speak-up, you'll get nothing from Perth. They really do not look after the little guy who wants a few ounces.
 
Holdfast said:
So, they are producing bullion but no bullion for sale to Australians.
This reminds me of the 2015 Kangaroo fiasco, when the Perth Mint provided silver coins to the rest of the world but they kicked Australians in the guts.
Pressure from folk on this forum helped to ensure Aussies got at least 10% of production.
If you don't constantly speak-up, you'll get nothing from Perth. They really do not look after the little guy who wants a few ounces.
Click to expand...

They still have stock in their online depository, and have been adding new stock in recent days.
As I type they have 20oz and up gold bars in stock.
Silver is 1000oz only in stock at present, but at least in the last few days I have seen smaller stock of both gold (down to 1oz) and silver (down to 1kg) sell out and then more stock become available again. Just keep an eye out.
So not for retail sale as such, you have to be a depository customer to see them and buy them.
 
Goldstackers newsletter mentioned african mine closures. First Majestic is witholding stock from refiners. South american mines in quarantine lockdown. Silver $25 USD and gold $2500 USD when?
 
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