Perth mints Sketchy verification?

M

MelbournePrepStack

New Member
Hey guys new to buying PM's but have decided to go with the lower premium 1oz kangaroos from perth mint.

I went to buy a 500 pack of them to start with but got hit with the verification wall of doom.

These people want to know where i shit and how i shit and who wipes me afterwards.

Isnt it dodgey for them to keep tabs on who owns what PM's?

I may just be paranoid but in a SHTF scenario wouldnt the government having a list of the houses that have PMS make it a pretty stupid choice to buy from them?

What are the alternatives for a nobody knows i have it purchase solution without being ripped off.
 
if you dont want anyone to know what you are buying,do it face to face from this forum or buy small amount from local shops.
 
SilverDJ said:
Anything over $5k has to be reported by law as part of the AUSTRAC requirements, this applies to all bullion and coin dealers.

http://www.perthmintbullion.com/au/blog/blog/10-10-13/Nothing_To_Fear_From_ID_Requirements.aspx
https://www.goldstackers.com.au/blog/faq/why-are-you-asking-me-for-i-d/
https://www.abcbullion.com.au/compliance
Click to expand...

Anti terrorism and black market seem like a good excuse to know where all the gold is.
Its the same excuse their using right now to Eliminate Cash so they can go negative interest rates.
 
MelbournePrepStack said:
Reading that all i hear is "we wont tell anyone... promise" with fingers crossed behind their backs
Click to expand...

Any dealer is going to report you if they suspect something, or are compelled to by the courts etc.
If you want to remain anonymous then you'll have to buy in smaller values under $5k from local shops, with cash.
 
SilverDJ said:
Any dealer is going to report you if they suspect something, or are compelled to by the courts etc.
If you want to remain anonymous then you'll have to buy in smaller values under $5k from local shops, with cash.
Click to expand...


Sweet thanks any bullion dealer in melbourne city should just sell under 5k physical without questions?
 
MelbournePrepStack said:
Sweet thanks any bullion dealer in melbourne city should just sell under 5k physical without questions?
Click to expand...

They should do. I don't do that personally so can't say for 100%, I'm sure others can verify.
Although if you came in every day and ordered $4999 worth then it's obvious what you are doing and why and they may feel obligated to either ask for ID or refuse service. Depends how seriously they take the "Know Your Customer" clause in the AUSTRAC legislation and how they apply that to over the counter cash transactions.
 
MelbournePrepStack said:
Sweet thanks any bullion dealer in melbourne city should just sell under 5k physical without questions?
Click to expand...

If paying cash and f2f....yes. The major Sydney dealers have no issue.

They may ask you to put a sig on their copy of the sale's receipt to acknowledge you took the PM's, so just sign "Joe Schmoe".
 
Just go to places like goldstackers, bullion now and buy less than $5000 each time ( say 150 kangaroos). Pay cash and there is no record. Won’t take long to get 500 kangaroos. Prices might be slightly higher but you save on shipping costs.

On the other hand I have sometimes seen prices cheaper than Perth Mint.

For example last week I bought some Super Pit coins from Bullion Now. Much better deal that Perth Mint and no shipping cost.
 
Niknakniko said:
Just go to places like goldstackers, bullion now and buy less than $5000 each time ( say 150 kangaroos). Pay cash and there is no record. Won’t take long to get 500 kangaroos. Prices might be slightly higher but you save on shipping costs.

On the other hand I have sometimes seen prices cheaper than Perth Mint.

For example last week I bought some Super Pit coins from Bullion Now. Much better deal that Perth Mint and no shipping cost.
Click to expand...

Thanks man Bullion now has super pit coins for $31.15
perth mints kangaroo is 28.99
is the postage saved bridging that gap much?
 
Super Pit 1oz

Perth Mint

32.59 1-25
31.89. 25-99
31.34. 100-249
Plus postage, plus they suggest you pay for insurance (not mandatory)

Bullion Now

31.20 with volume discounts > 10
Pay cash <$5,000, no record.

In this example, Bullion Now is a much better deal.
 
SilverDJ said:
Anything over $5k has to be reported by law as part of the AUSTRAC requirements, this applies to all bullion and coin dealers.
Click to expand...

AUSTRAC rules just require the dealer to obtain ID and have records, none of the transactions are reported. Only if the dealer has reason to believe that the transaction is money laundering/terrorism financing do they have to file a suspicious transaction report, otherwise the dealer just keeps a record, which would only be shown if police have a reason to investigate someone.
 
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